How to Cut Infrastructure Costs in Half

Money is not fixed and scarce. It is "elastic": it is created when loans are made and extinguished when they are paid off. Private banks now create nearly 97 percent of the money supply in this way. To get much-needed new money into local economies, rather than borrowing from private investors who cannot create the money they lend, governments should borrow from banks, which create money in the form of deposits when they make loans. And, to get that money interest-free, a government should borrow from its own bank, which returns the interest to the government.

Read more

Dark Pools: The Path to the Next Financial Crisis?

The biggest banks on Wall Street, both foreign and domestic, have been repeatedly charged with rigging and colluding in markets from New York to London to Japan. Thus, it is natural to ask, have the big banks formed a cartel to rig the prices of their own stocks? And, are these dark pools behind the run-up in bank stock prices?

Read more

What Donald Trump Owes Wall Street

Wells Fargo. JPMorgan Chase. Fidelity Investments. Prudential PLC. Vanguard Group. These are among the major financial institutions that own business debt held by Donald Trump, according to an investigation just published by the Wall Street Journal.

Read more

Bernie Sanders Supporters Launch Effort to Reform Wall Street

Supporters of Senator Bernie Sanders demand that President-elect Donald Trump fulfill a campaign pledge promising to enact a 21st Century Glass-Steagall Act to reform Wall Street.

Read more

Battle Over Banking: Vermont Had a Public Bank?

Yes, Vermont had a public bank...and it was successful, despite the many impediments thrown at it by neighboring states and their private banks.

Read more

Actually, Public Banks Can Be GREAT for Communities

According to a recent Op-Ed in the Seattle Times by Michael Waite, former candidate for Seattle treasurer, public banks create conflicts of interest and are a disservice to the taxpayer. Not so fast, Michael. Public banks have an excellent track record in helping states and cities finance infrastructure, among other public services.

Read more

The Italian Banking Crisis: No Free Lunch - Or Is There?

 

The money that is now created by banks in pursuit of their own profit either needs to be issued by governments (as has been done quite successfully in the past, going back to the American colonies) or it needs to be created by banks that are required to serve the public interest.

 

Read more

Fake Headlines: Big Media and the Big Banks

 

Big media should know better than to rely on a global bank that has been serially charged with egregious frauds and deceptions to write its headlines.

 

Read more

A Closer Look: The Benefits of a Public Bank

 

PBI's Santa Fe affiliate, the Brass Tax Team, uncovered information showing that Santa Fe spent $7 million in bond issuance costs and fiscal agent fees, and will pay $25 million in interest to Wall Street.

If Santa Fe had a public bank that refinanced that debt at 4 percent, its debt service costs would have been reduced by $282,425 and total debt by $52,439,584.

Read more

Who's the Boss: Still Messing with Mother Nature

Want to get caught up on It's Our Money with Ellen Brown? Check out our recent podcasts regarding the interrelationship of planetary health and our consumptive lifestyles, as well as the Money Tribe and water.

Read more

connect

get updates