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Entries by Ellen Brown

Bank of North Dakota Soars Despite Oil Bust: A Blueprint for California?

(2) Comments | Posted May 2, 2016 | 1:25 PM

Despite North Dakota's collapsing oil market, its state-owned bank continues to report record profits. This article looks at what California, with fifty times North Dakota's population, could do following that state's lead.

In November 2014, the Wall Street Journal reported that the Bank of North Dakota (BND), the nation's...

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The War on Savings: The Panama Papers, Bail-Ins, and the Push to Go Cashless

(2) Comments | Posted April 11, 2016 | 10:00 AM

Exposing tax dodgers is a worthy endeavor, but the "limited hangout" of the Panama Papers may have less noble ends, dovetailing with the War on Cash and the imminent threat of massive bail-ins of depositor funds.

The bombshell publication of the "Panama Papers," leaked from a Panama law firm specializing...

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The Populist Revolution: Bernie and Beyond

(2) Comments | Posted January 26, 2016 | 11:20 PM

The world is undergoing a populist revival. From the revolt against austerity led by the Syriza Party in Greece and the Podemos Party in Spain, to Jeremy Corbyn's surprise victory as Labour leader in the UK, to Donald Trump's ascendancy in the Republican polls, to Bernie Sanders' surprisingly strong challenge...

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The Citadel Is Breached: Congress Taps the Fed for Infrastructure Funding

(3) Comments | Posted January 17, 2016 | 11:16 PM

In a landmark infrastructure bill passed in December, Congress finally penetrated the Fed's "independence" by tapping its reserves and bank dividends for infrastructure funding.

The bill was a start. But some experts, including Congressional candidate Tim Canova, say Congress should go further and authorize funds to be issued for...

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Time for the Nuclear Option: Raining Money on Main Street

(4) Comments | Posted September 23, 2015 | 1:47 AM

Predictions are that we will soon be seeing the "nuclear option" -- central bank-created money injected directly into the real economy. All other options having failed, governments will be reduced to issuing money outright to cover budget deficits. So warns a September 18 article on ZeroHedge titled "It Begins: Australia's...

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A Revolutionary Pope Calls for Rethinking the Outdated Criteria That Rule the World

(0) Comments | Posted July 5, 2015 | 8:40 AM

Pope Francis' revolutionary encyclical addresses not just climate change but the banking crisis. Interestingly, the solution to that crisis may have been modeled in the Middle Ages by Franciscan monks following the Saint from whom the Pope took his name.

Pope Francis has been called "the revolutionary Pope." Before...

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The Trade in Services Agreement: Stealth Block to Monetary Reform

(1) Comments | Posted June 12, 2015 | 10:18 AM

It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.

-- Attributed to Henry Ford

In March 2014, the Bank of England let the cat out of...

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The Trans-Pacific Partnership and the Death of the Republic

(7) Comments | Posted April 24, 2015 | 2:01 PM

"The United States shall guarantee to every State in this Union a Republican Form of Government." -- Article IV, Section 4, US Constitution
A republican form of government is one in which power resides in elected officials representing the citizens, and government leaders exercise power according to the rule of law. In The Federalist Papers, James Madison...
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Why Public Banks Outperform Private Banks: Unfair Competition or a Better Mousetrap?

(0) Comments | Posted February 10, 2015 | 3:14 PM

Public banks in North Dakota, Germany and Switzerland have been shown to outperform their private counterparts. Under the TPP and TTIP, however, publicly-owned banks on both sides of the oceans might wind up getting sued for unfair competition because they have advantages not available to private banks.

In November 2014,...

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Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives

(78) Comments | Posted December 29, 2014 | 9:45 AM

The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend.

Senator Elizabeth...

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New Rules: Cyprus-style Bail-ins to Take Deposits and Pensions

(11) Comments | Posted December 1, 2014 | 5:36 PM

On the weekend of November 16th, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again. It was all so fast, they may not have known what they were endorsing when...

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The Looming Foreclosure Crisis: As the Fed Runs Out of Bullets, Local Governments Step In

(0) Comments | Posted July 8, 2014 | 12:58 PM

Mortgage debt overhang from the housing bust has meant lack of middle-class spending power and consumer demand, preventing the economy from growing. The problem might be fixed by a new approach from the Fed. But if the Fed won't act, counties will, as seen in the latest developments on eminent...

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Buying Up the Planet: Central Banks on a Corporate Buying Spree

(0) Comments | Posted June 25, 2014 | 12:00 AM

Finance is the new form of warfare - without the expense of a military overhead and an occupation against unwilling hosts. It is a competition in credit creation to buy foreign resources, real estate, public and privatized infrastructure, bonds and corporate stock ownership. Who needs an army when you can...
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California's Top-Two Primary Eliminates Third-Party Rivals

(0) Comments | Posted June 9, 2014 | 12:37 PM

Primary elections originated in the American progressive movement and were intended to take the power of candidate nomination away from party leaders and deliver it to the people. California's Top Two Primary takes power away from third parties representing the 99% and delivers it to the 1%.

Voters have increasingly...

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Infrastructure Sticker Shock: Financing Costs More Than Construction

(0) Comments | Posted June 5, 2014 | 10:42 PM

Funding infrastructure through bonds doubles the price or worse. Costs can be cut in half by funding through the state's own bank.

"The numbers are big. There is sticker shock," said Jason Peltier, deputy manager of the Westlands Water District, describing California Gov. Jerry Brown's plan to build...

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Robbing Main Street to Prop Up Wall Street: Why Jerry Brown's Rainy Day Fund Is a Bad Idea

(4) Comments | Posted May 7, 2014 | 3:44 PM

There is no need to sequester funds urgently needed by Main Street to pay for Wall Street's malfeasance. Californians can have their cake and eat it too - with a state-owned bank.

Governor Jerry Brown is aggressively pushing a California state constitutional amendment requiring budget surpluses to be...

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Banking Union Time Bomb: Eurocrats Authorize Bailouts and Bail-Ins

(0) Comments | Posted March 31, 2014 | 12:04 PM

"As things stand, the banks are the permanent government of the country, whichever party is in power." -- Lord Skidelsky, House of Lords, UK Parliament, 31 March 2011)

On March 20, 2014, European Union officials reached an historic agreement to create a single agency to handle failing banks....

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

(0) Comments | Posted March 18, 2014 | 1:06 PM

Investigative reporter Greg Palast is usually pretty good at peering behind the rhetoric and seeing what is really going on. But in tearing into Senator 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...

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Lucrative Returns on Phantom Money: The Credit Card Gravy Train

(0) Comments | Posted February 18, 2014 | 11:16 AM

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

You pay off your credit card balance every month, thinking you are taking advantage of the "interest-free grace period" and getting free credit. You may even use your credit...

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

(5) Comments | Posted December 23, 2013 | 6:56 PM

December 23, 2013, marks the 100th anniversary of the Federal Reserve, warranting a review of its performance. Has it achieved the purposes for which it was designed?

The answer depends on whose purposes we are talking about. For the banks, the Fed has served quite well. For the laboring masses...

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