Ellen Brown: Many European, Asian and Latin American countries have their own national development banks, as well as belonging to bilateral or multinational development institutions that are jointly owned by multiple governments.
Ellen Brown: The Federal Reserve alone could do the job. It could buy “Green” federal bonds with money created on its balance sheet, just as the Fed funded the purchase of $3.7 trillion in bonds in its “quantitative easing” program to save the banks.
Ellen Brown: Rep. Alexandria Ocasio-Cortez and the 22 representatives joining her in calling for a Select Committee are also proposing a novel way to fund the program, one which could actually work.
Ellen Brown: The City Council took supporters by surprise when it put the charter amendment on the ballot in July, leaving only four months to promote it.
Ellen Brown: President Trump has stepped up his criticism of the Federal Reserve, saying of its aggressive interest rate hikes that it has “gone crazy.” The same charge has been leveled against Trump, but there may be a method to his madness.
Ellen Brown: A “yes” vote will allow the creation of a city-owned bank that can partner with local banks to provide low-cost credit for the community, following the steller precedent of the century-old Bank of North Dakota, currently the nation’s only state-owned bank.
Ellen Brown: Central bankers are now aggressively playing the stock market. To say they are buying up the planet may be an exaggeration, but they could. They can create money at will, and they have declared their “independence” from government. They have become rogue players in a game of their own.
Ellen Brown: Giant Chinese tech companies have bypassed credit cards and banks to create their own low-cost digital payment systems.
Ellen Brown: Not all of the energy being promoted by California’s CCAs is “clean.” In Humboldt County, the Redwood Coast Energy Authority has greatly boosted our dirtiest source of power — our local biomass.
Ellen Brown: The president has criticized Federal Reserve policy for undermining his attempts to build the economy. To best make the central bank serve the needs of the economy, it needs to be transformed into a public utility.
Ellen Brown: California legislators exploring the public bank option may be breaking not just from Wall Street but from the Federal Reserve.
Ellen Brown: California has over $700 billion parked in private banks earning minimal interest, private equity funds that contributed to the affordable housing crisis, or shadow banks of the sort that caused the banking collapse of 2008.
Ellen Brown: The Fed is aggressively raising interest rates, although inflation is contained, private debt is already at 150% of GDP, and rising variable rates could push borrowers into insolvency. So what is driving the Fed’s push to “tighten”?