Central Bankers’ Desperate Grab for Power

Central bankers are out of ammunition. Mark Carney, the soon-to-be-retiring head of the Bank of England, admitted as much in a speech at the annual meeting of central bankers in Jackson Hole, Wyo., in August. “In the longer-term,” he said, “we need to change the game.” The same point was […]

Neoliberalism Has Met Its Match in China

When the Federal Reserve cut interest rates last week, commentators were asking why. According to official data, the economy was rebounding, unemployment was below 4% and gross domestic product growth was above 3%. If anything, by the Fed’s own reasoning, it should have been raising rates. Market pundits explained that […]

The Cheapest Way to Save the Planet Grows Like a Weed

Planting billions of trees across the world is by far the cheapest and most efficient way to tackle the climate crisis. So states a Guardian article, citing a new analysis published in the journal Science. The author explains: As trees grow, they absorb and store the carbon dioxide emissions that […]

The American Dream Is Alive and Well—in China

Home ownership has been called “the quintessential American dream.” Yet today less than 65% of American homes are owner occupied, and more than 50% of the equity in those homes is owned by the banks. Compare China, where, despite facing one of the most expensive real estate markets in the […]

The Bankers’ “Power Revolution”: How the Government Got Shackled by Debt

Posted on May 31, 2019 by Ellen Brown This article is excerpted from my new book Banking on the People: Democratizing Money in the Digital Age, available in paperback June 1. The U.S. federal debt has more than doubled since the 2008 financial crisis, shooting up from $9.4 trillion in mid-2008 to […]

The Fed’s Dramatic About-Face

“Quantitative easing” was supposed to be an emergency measure, but the Federal Reserve is now taking a surprising new approach toward the policy. The Fed “eased” shrinkage in the money supply due to the 2008-09 credit crisis by pumping out trillions of dollars in new bank reserves. After the crisis, […]

The Venezuela Myth Keeping Us From Transforming Our Economy

Alex Lanz / CC BY-NC-ND 2.0 Modern Monetary Theory (MMT) is getting significant media attention these days, after Rep. Alexandria Ocasio-Cortez said in an interview that it should “be a larger part of our conversation” when it comes to funding the “Green New Deal.” According to MMT, the government can spend what […]

The Financial Secret Behind Germany’s Green Energy Revolution

Wind farmer Jan Marrink poses by his wind turbines in Nordhorn, Germany. (Martin Meissner / AP) The “Green New Deal” endorsed by Rep. Alexandria Ocasio-Cortez, D.-N.Y., and more than 40 other House members has been criticized as imposing a too-heavy burden on the rich and upper-middle-class taxpayers who will have […]

Fox in the Henhouse: Why Interest Rates Are Rising?

Article originally posted by Ellen Brown on Truthdig, 20/04/2018. The Federal Reserve calls itself independent, but it is independent only of government. It marches to the drums of the banks that are its private owners. To prevent another Great Recession or Great Depression, Congress needs to amend the Federal Reserve Act, […]

Funding infrastructure: Why China is running circles around America

“If we don’t get our act together very soon, we should all be brushing up on our Mandarin.” Ellen Brown / Web of Debt – Ellen Brown / Op-Ed – February 28, 2018   Image Credit: Truthdig NationofChange is a nonprofit organization, and this website is funded by readers like […]

How Uncle Sam Launders Marijuana Money

Friday, January 26, 2018 4:21 AM EST In a blatant example of “do as I say, not as I do,” the US government is profiting handsomely by accepting marijuana cash in the payment of taxes while imposing huge penalties on banks for accepting it as deposits. Onerous reporting requirements are […]

Student Debt Slavery II: Time to Level the Playing Field

This is the second in a two-part article on the debt burden America’s students face. Read Part 1 here. The lending business is heavily stacked against student borrowers. Bigger players can borrow for almost nothing, and if their investments don’t work out, they can put their corporate shells through bankruptcy […]

Student Debt Slavery: Bankrolling Financiers on the Backs of the Young

Students graduating at the University of Alabama in Tuscaloosa in 2011. (Butch Dill / AP) The advantages of slavery by debt over “chattel” slavery—ownership of humans as a property right—were set out in an infamous document called the Hazard Circular, reportedly circulated by British banking interests among their American banking counterparts during […]

Regulation Is Killing Community Banks — Public Banks Can Revive Them

Wednesday, November 01, 2017 By Ellen Brown, The Web of Debt Blog | News Analysis At his confirmation hearing in January 2017, Treasury Secretary Stephen Mnuchin said, “regulation is killing community banks.” If the process is not reversed, he warned, we could “end up in a world where we have […]

How to Wipe Out Puerto Rico’s Debt Without Hurting Bondholders

During his visit to hurricane-stricken Puerto Rico, President Donald Trump shocked the bond market when he told Geraldo Rivera of Fox News that he was going to wipe out the island’s bond debt. He said on October 3rd: You know they owe a lot of money to your friends on […]

How to Fund a Universal Basic Income Without Increasing Taxes or Inflation

Published on Wednesday, October 04, 2017 by Common Dreams Studies have shown that it would actually be cheaper to distribute funds to the entire population than to run the welfare services governments engage in now. by Ellen Brown first published at https://www.commondreams.org/views/2017/10/04/how-fund-universal-basic-income-without-increasing-taxes-or-inflation “It has been calculated that if the UK’s […]

Sovereign Debt Jubilee, Japanese-Style. The US National Debt

Japan has found a way to write off nearly half its national debt without creating inflation. We could do that too. Let’s face it. There is no way the US government is ever going to pay back a $20 trillion federal debt. The taxpayers will just continue to pay interest […]

Dear Mr. President, Be Careful What You Wish for: Higher Interest Rates Will Kill the Recovery

Higher interest rates will triple the interest on the federal debt to $830 billion annually by 2026, will hurt workers and young voters, and could bankrupt over 20% of US corporations, according to the IMF. The move is not necessary to counteract inflation and shows that the Fed is operating […]

If China Can Fund Infrastructure With Its Own Credit, So Can We

By Ellen Brown, The Web of Debt Blog Construction on Ou Zhuang station at the intersection of the no. 6 and no. 5 subway lines, scheduled to be open at the end of 2009, Guangzhou, China on February 26, 2009. At least 15 cities are building subway lines and a […]

“Ryancare” Dead on Arrival: Can We Please Now Try Single Payer?

Photo by DonkeyHotey | CC BY 2.0 The Canadian plan also helps Canadians live longer and healthier than Americans. . . . We need, as a nation, to reexamine the single-payer plan, as many individual states are doing. — Donald Trump, The America We Deserve (2000) The new American Health […]