people before profit

Photo by Kurt Christensen courtesy Sharable.

Shareable filmmaker and podcaster Robert Raymond talks with PBI Chair Ellen Brown about the contrast between the extractive Wall Street banking system and a publicly-owned alternative, and the path forward for the public banking movement.

Raymond asks: “How should the movement evolve to be successful?”

Ellen responds:

“Massive unrest and revolutionary fervor are happening globally, but activist groups tend to be limited to their own circumscribed silos. If we could manage to bring all those groups together under one umbrella, we could be a seriously effective force. Public banking advocates feel that public banking could be such a unifying force.”

Ellen continues:

“My own sense, though, is that to make significant headway, we really need to get the federal government and the Federal Reserve involved. … We need to do as China does, and support our local public banks with the deep pocket of the central bank.”

[Read the full article]

2 Thoughts on “Sharable talks with Ellen Brown about public banks and shared prosperity”

  • I am a retired bank employee in Sri Lanka and I am a keenly interested follower of the Public Ba King Movement in the US. Has any other country in the world successfully trialled a public bank?
    In an authoritarian country like China may be able to experiment with the idea. But what about the free world? Would a politically and economically powerful ethnic community in a given country be able to try this idea?
    As an retired bank employee, I myself know from experience that something is critically wrong with the model followed by the global financial architecture. The banks’ intermediation costs are unsustainably high in this digital world. Another development on the global scene is cryptocurrency : Even the Facebook has now introduced a digital currency. But none can predict their future. Some countries are experimenting with the Universal Basic Income idea with the digital economy thriving, driving down the cost of production. The time is ticking and and things are evolving fast and, come what may, the world has to move on.

    • There are public banks all over the world. Germany, China, and others. Check our our blogs and you’ll find many articles. Thanks for commenting!

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