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The Case for Big Government

The Case for Big Government

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Tag: Ellen Brown


The Global Banking Game Is Rigged, and the FDIC Is Suing

Taxpayers are paying billions of dollars for a swindle pulled off by the world’s biggest banks, using a form of derivative called interest-rate swaps. And the Federal Deposit Insurance Corporation has now joined a chorus of litigants suing over it.

Posted on Apr 13, 2014 READ MORE



Bankers Win Both Ways: Now They Can Take Both Taxpayer and Depositor Money

On March 20, European Union officials reached a historic deal to save failing banks by tapping both taxpayer and depositor funds. It may be illegal under EU Parliament, but is being rushed through to lock taxpayer and depositor liability into place before the dire state of eurozone banks is exposed.

Posted on Mar 29, 2014 READ MORE



Warren’s Post Office Proposal: Palast Aims at the Wrong Target

Investigative reporter Greg Palast is usually pretty good at peering behind the rhetoric and seeing what is really going on. But in tearing into Sen. Elizabeth Warren’s support of postal financial services, he has done a serious disservice to the underdogs—both the underbanked and the U.S. Postal Service itself.

Posted on Mar 13, 2014 READ MORE



The Stone That Brings Down Goliath? Richmond and Eminent Domain

Gayle McLaughlin, the bold mayor of Richmond, California, has gone where no woman dared go before, threatening to take underwater mortgages by eminent domain from Wall Street banks and renegotiate them on behalf of beleaguered homeowners.

Posted on Mar 3, 2014 READ MORE



The Credit Card Gravy Train Is Running You Down

The credit card business is now the banking industry’s biggest cash cow, and it’s largely due to lucrative hidden fees.

Posted on Feb 14, 2014 READ MORE



Enough Is Enough: Fraud-Ridden Banks Are Not L.A.’s Only Option

JPMorgan Chase has been involved in more than a dozen felonies. Why are we still doing business with it?

Posted on Jan 30, 2014 READ MORE



From Austerity to Prosperity: Why I Am Running for California Treasurer

California cannot solve its budget problems by slashing services that have already been cut to the bone or raising sales taxes that hurt the poor far more than the rich. We are fighting over a pie that remains too small. The pie itself needs to be expanded—and it can be.

Posted on Jan 16, 2014 READ MORE



AP/Richard Drew

Overthrow the Speculators

There will never be significant economic reform until megabanks are replaced by a network of state- and city-owned public banks. The revolution must be local.

Posted on Dec 29, 2013 READ MORE



epicharmus (CC BY 2.0)

100 Years Is Enough: Time to Make the Fed a Public Utility

December 23, 2013, marks the 100th anniversary of the Federal Reserve. Has it achieved the purposes for which it was designed? For the banks, the Fed has served quite well. For the laboring masses whose populist movement prompted it, not much has changed in a century.

Posted on Dec 22, 2013 READ MORE



ephicharmus (CC BY 2.0)

Amend the Fed: We Need a Central Bank that Serves Main Street

Congress has the power to amend the Fed—just as it did in 1934, 1958 and 2010. For the central bank to satisfy its mandate to promote full employment and become an institution that serves all the people—not just the 1%—the Fed needs fundamental reform.

Posted on Dec 8, 2013 READ MORE



msdonnalee (CC BY 2.0)

Monsanto, the TPP and Global Food Dominance

Global food control has nearly been achieved at grave cost to our health, and if the Trans-Pacific Partnership passes, control over not just our food but our health, our environment and our financial system will be in the hands of transnational corporations.

Posted on Nov 28, 2013 READ MORE



eflon (CC BY 2.0)

Public Banking in Costa Rica: A Remarkable Little-Known Model

In Costa Rica, publicly-owned banks have been available for so long and work so well that people take for granted that any country that knows how to run an economy has a public banking option.

Posted on Nov 11, 2013 READ MORE



kevin dooley (CC BY 2.0)

The Bank Guarantee That Bankrupted Ireland

When the indomitable Irish spirit is awakened, organized and mobilized, the country could become the poster child not for austerity, but for economic prosperity through financial sovereignty.

Posted on Nov 2, 2013 READ MORE



DVIDSHUB (CC BY 2.0)

Is Homeland Security Preparing for the Next Wall Street Collapse?

An Associated Press article in February confirmed a purchase order by the Department of Homeland Security for 1.6 billion rounds of ammunition. That’s enough to sustain an Iraq-sized war for over twenty years. Someone in government seems to expect some serious civil unrest. Why?

Posted on Oct 7, 2013 READ MORE



liewcf (CC BY-SA 2.0)

Debate: ‘Public Banks Are Key to Capitalism’

Former Truthdigger of the Week and Public Banking Institute President Ellen Brown led a debate in The New York Times’ opinion pages this week, arguing: “We actually need publicly owned banks for a capitalist market economy to run properly.”

Posted on Oct 3, 2013 READ MORE



thedailyenglishshow (CC BY 2.0)

A Postal Savings Bank: Infrastructure That Doesn’t Cost Taxpayers a Dime

Necessary banking services the post office performed efficiently in the past, such as infrastructure funding, serving the “underbanked,” and providing a safe place to save your money, could be revived with a single legislative stroke.

Posted on Sep 23, 2013 READ MORE



p-a-t-r-i-c-k (CC BY-ND 2.0)

The Armageddon Looting Machine: The Looming Mass Destruction from Derivatives

Increased regulation and low interest rates are driving lending from the regulated commercial banking system into the unregulated shadow banking system. Although free of government regulation, these banks are propped up by a guarantee hidden in the 2005 Bankruptcy Reform Act pushed through by Wall Street. The result is a perverse incentive for the financial system to self-destruct.

Posted on Sep 19, 2013 READ MORE



stevendepolo (CC BY 2.0)

Making the World Safe for Banksters: Syria in the Cross Hairs

Iraq and Libya have been taken out, and Iran has been heavily boycotted. Syria is now in the cross-hairs. Why? Here is one overlooked scenario.

Posted on Sep 5, 2013 READ MORE


Can the FDIC Protect Your Money From Another Crash?

The first of a planned three-part series on the dangers of private banking highlights government documents describing plans to confiscate the deposits of individuals as well as cities, universities, counties and pension funds when another banking crash occurs.

Posted on Aug 31, 2013 READ MORE



badjonni (CC BY-SA 2.0)

The Leveraged Buyout of America

Giant bank holding companies now own airports, toll roads, and ports; control power plants; and store and hoard vast quantities of commodities of all sorts. They are systematically buying up or gaining control of the essential lifelines of the economy. How did they pull this off, and where did they get the money?

Posted on Aug 26, 2013 READ MORE



WarmSleepy (CC BY 2.0)

Not Too Big to Jail: Eliot Spitzer Is Wall Street’s Worst Nightmare

Before his infamous resignation as governor of New York in March 2008, Eliot Spitzer was one of our fiercest champions against Wall Street corruption in a state that had some of the toughest legislation for controlling the banks—and by extension, an advocate for women.

Posted on Aug 19, 2013 READ MORE



Bob Jagendorf (CC BY 2.0)

The Detroit Bail-In Template: Fleecing Pensioners to Save the Banks

The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally.

Posted on Aug 5, 2013 READ MORE



idleformat (CC BY 2.0)

Green Light for City-Owned San Francisco Bank

Moving San Francisco’s money into a municipal bank would protect the city’s deposits and reduce its debt burden. A chief roadblock to forming such a bank was recently overcome by a legal opinion issued by one of the city’s deputy attorneys.

Posted on Aug 2, 2013 READ MORE



zzkt (CC BY-SA 2.0)

Collateral Damage: QE3 and the Shadow Banking System

Rather than expanding the money supply, quantitative easing has actually caused it to shrink by sucking up the collateral needed by the shadow banking system to create credit. This “failure” has prompted the Bank for International Settlements to urge the Fed to shirk its mandate to pursue full employment, though the sort of QE that could fulfill that mandate has not yet been tried.

Posted on Jul 26, 2013 READ MORE



gpoo (CC BY 2.0)

Think Your Money Is Safe in an Insured Bank Account? Think Again

An international trend to shift responsibility for bank losses onto blameless depositors lets banks take and gamble away your money.

Posted on Jul 5, 2013 READ MORE



DEMOSH (CC BY 2.0)

The Crime of Alleviating Poverty: A Local Community Currency Battles the Central Bank of Kenya

Former Peace Corps volunteer Will Ruddick and several residents of the Bangladesh slum in Kenya face a potential seven years in prison after developing a cost-effective way to alleviate poverty in Africa’s poorest areas: a complementary currency issued and backed by the local community. The solution has brought charges of forgery from the country’s central bank.

Posted on Jun 28, 2013 READ MORE



Images_of_Money (CC BY 2.0)

Hundreds Gather for Public Banking and Economic Justice

Earlier this month, leading scholars, activists and other concerned people met in San Rafael, Calif., to explore the idea of public banks: democratically run, fiscally transparent institutions designed to serve community stakeholders rather than capital shareholders.

Posted on Jun 23, 2013 READ MORE



peasap (CC BY 2.0)

Bail-Out Is Out, Bail-In Is In

The new rules for keeping the too-big-to-fail banks alive allow for the use of creditor funds, including uninsured deposits, to recapitalize failing banks. In the event of another crisis, access to your money would depend on the security of the FDIC. The question, then, is how reliable is the FDIC?

Posted on Apr 30, 2013 READ MORE



mahalie (CC BY-SA 2.0)

Winner Takes All: The Super Priority Status of Derivatives

With taxpayer bailouts no longer an option, a major derivatives crisis could transfer money currently held by state and local governments and citizens—secured and unsecured, insured and uninsured—into the hands of derivative claimants.

Posted on Apr 10, 2013 READ MORE



striatic (CC BY 2.0)

Truth Telling Is Offensive

Paul Craig Roberts was an assistant secretary of the Treasury under Ronald Reagan. Like many Americans, he has been wounded by the government he helped create, and he’s tired of being called offensive and depressing for talking about it.

Posted on Apr 6, 2013 READ MORE



Max F. Williams (CC BY 2.0)

Why Is Socialism Doing So Well in Deep-Red North Dakota?

North Dakota’s thriving state bank makes a mockery of Wall Street’s casino banking system—and that’s why financial elites want to crush it.

Posted on Mar 30, 2013 READ MORE



eflon (CC BY 2.0)

The Confiscation Scheme Planned for U.S. and U.K. Depositors

Confiscating customer deposits in Cyprus banks was not a one-off, desperate idea of a few eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the U.S. Federal Deposit Insurance Corporation and the Bank of England, dated Dec. 10, 2012, shows these plans have been long in the making.

Posted on Mar 28, 2013 READ MORE



loop_oh (CC BY-ND 2.0)

A Safe and a Shotgun or Publicly Owned Banks? The Battle of Cyprus

For now, the government of Cyprus has overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout. But if technocrat bankers can push through their confiscation scheme, precedent will be established for doing it elsewhere when bank bailouts become prohibitive for governments.

Posted on Mar 22, 2013 READ MORE



Stuart Conner (CC BY-ND 2.0)

How Congress Could Fix Its Budget Woes Permanently

Money today is simply a legal agreement between parties. Nothing backs it but “the full faith and credit of the United States.” The United States could issue its credit directly to fund its own budget, just as our forebears did in the American colonies and as Abraham Lincoln did in the Civil War.

Posted on Feb 14, 2013 READ MORE



DonkeyHotey (CC BY 2.0)

The Trillion Dollar Coin: Joke or Game-Changer?

The trillion dollar coin represents one of the most important principles of popular prosperity ever conceived: the creation of money by sovereign governments, debt-free.

Posted on Jan 18, 2013 READ MORE



dps (CC BY 2.0)

Fiscal Cliff? Let’s Call Their Bluff

Taxpayers and governments that are pushed too far have been known to resort to radical policy measures, and there are some on the table that could fix the problem at its core.

Posted on Dec 20, 2012 READ MORE



therichbrooks (CC BY 2.0)

Why QE3 Won’t Jump-Start the Economy—and What Would

The economy could use a good dose of “aggregate demand”—new spending money in the pockets of consumers—but QE3 won’t do it. Neither will it trigger the dreaded hyperinflation. In fact, it won’t do much at all. There are better alternatives.

Posted on Sep 22, 2012 READ MORE


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