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Meet BlackRock, the New Great Vampire Squid

Meet BlackRock, the New Great Vampire Squid

    by Ellen Brown BlackRock is a global financial giant with customers in 100 countries and its tentacles in major asset classes all over the world; and it now manages the spigots to trillions of bailout dollars from the Federal Reserve. The fate of a large portion of the country’s corporations has been put […]

Another Bank Bailout Under Cover of a Virus

Another Bank Bailout Under Cover of a Virus

    by Ellen Brown Insolvent Wall Street banks have been quietly bailed out again. Banks made risk-free by the government should be public utilities.   When the Dodd Frank Act was passed in 2010, President Obama triumphantly declared, “No more bailouts!” But what the Act actually said was that the next time the banks […]

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 […]

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 […]

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 Public Banking Revolution Is Upon Us

The Public Banking Revolution Is Upon Us

    by Ellen Brown As public banking gains momentum across the country, policymakers in California and Washington state are vying to form the nation’s second state-owned bank, following in the footsteps of the highly successful Bank of North Dakota, founded in 1919. The race is close, with state bank bills now passing their first […]