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Crushing the States, Saving the Banks: The Fed’s Generous New Rules

Crushing the States, Saving the Banks: The Fed’s Generous New Rules

    by Ellen Brown Congress seems to be at war with the states. Only $150 billion of its nearly $3 trillion coronavirus relief package – a mere 5% – has been allocated to the 50 states; and they are not allowed to use it where they need it most, to plug the holes in […]

A Universal Basic Income Is Essential and Will Work

A Universal Basic Income Is Essential and Will Work

. . by Ellen Brown A central bank-financed UBI can fill the debt gap, providing a vital safety net while preventing cyclical recessions. According to an April 6 article on CNBC.com, Spain is slated to become the first country in Europe to introduce a universal basic income (UBI) on a long-term basis. Spain’s Minister for Economic […]

Socialism at Its Finest after Fed’s Bazooka Fails

Socialism at Its Finest after Fed’s Bazooka Fails

    by Ellen Brown In what is being called the worst financial crisis since 1929, the US stock market has lost a third of its value in the space of a month, wiping out all of its gains of the last three years. When the Federal Reserve tried to ride to the rescue, it only succeeded in […]

The Fed’s Baffling Response to the Coronavirus Explained

The Fed’s Baffling Response to the Coronavirus Explained

  By Ellen Brown When the World Health Organization announced on Feb. 24 that it was time to prepare for a global pandemic, the stock market plummeted. Over the following week, the Dow Jones Industrial Average dropped by more than 3,500 points, or 10%. In an attempt to contain the damage, the Federal Reserve on March 3 […]

Mexico Is Showing the World How to Defeat Neoliberalism

Mexico Is Showing the World How to Defeat Neoliberalism

    by Ellen Brown While U.S. advocates and local politicians struggle to get their first public banks chartered, Mexico’s new president has begun construction on 2,700 branches of a government-owned bank to be completed in 2021, when it will be the largest bank in the country. At a press conference on Jan. 6, he said the neoliberal […]

Is the Run on the Dollar Due to Panic or Greed?

Is the Run on the Dollar Due to Panic or Greed?

    by Ellen Brown What’s going on in the repo market? Rates on repurchase agreements (“repo”) should be around 2%, in line with the fed funds rate. But they shot up to over 5% on September 16 and got as high as 10% on September 17. Yet banks were refusing to lend to each other, evidently […]

Restoring the Korean Economic Miracle

Restoring the Korean Economic Miracle

    by Ellen Brown This 10-page paper was written for the Economics of Happiness Conference co-sponsored by Local Futures, held in Jeonju, Korea, on October 16-17, where I was the keynote speaker — a wonderful city and great experience!    Satisfaction in the workplace is a major component of the “happiness” index; but it is a […]

The Disaster of Negative Interest Rates

The Disaster of Negative Interest Rates

    by Ellen Brown President Trump wants negative interest rates, but they would be disastrous for the U.S. economy, and his objectives can be better achieved by other means. The dollar strengthened against the euro in August, merely in anticipation of the European Central Bank slashing its key interest rate further into negative territory. […]

Desperate Central Bankers Grab for More Power

Desperate Central Bankers Grab for More Power

    by Ellen Brown Conceding that their grip on the economy is slipping, central bankers are proposing a radical economic reset that would shift yet more power from government to themselves. Central bankers are acknowledging that they are out of ammunition. Mark Carney, the soon-to-be-retiring head of the Bank of England, said in a speech at […]

The Key to a Sustainable Economy Is 5,000 Years Old

The Key to a Sustainable Economy Is 5,000 Years Old

    by Ellen Brown We are again reaching the point in the business cycle known as “peak debt,” when debts have compounded to the point that their cumulative total cannot be paid. Student debt, credit card debt, auto loans, business debt and sovereign debt are all higher than they have ever been. As economist […]

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