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Tag: Public Banking


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



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



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



Ellen Brown

Truthdigger of the Week: Ellen Brown

Ellen Brown is a major public intellectual and a tireless promoter of a tried and tested solution that may represent Americans’ best chance at taking their society back from predatory bankers.

Posted on Aug 25, 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



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


Banking: From Public to Private and Back Again

Once upon a time American banks supported the economy by financing the growth and development of industry. For the last many decades they’ve had the opposite effect by plowing money into existing assets and loading the economy down with debt. The consequences have been disastrous, economist Michael Hudson told The Real News Network this week.

Posted on Mar 30, 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



Danielle Walquist Lynch (CC BY 2.0)

Ensuring Scottish Sovereignty: Exploring the Public Bank Option

Will a publicly owned bank help Scotland avoid unnecessary debt and take control of its economic destiny as North Dakotans did in the U.S.?

Posted on Dec 7, 2012 READ MORE


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