Libra: Facebook’s Audacious Bid for Global Monetary Control by Ellen Brown

Facebook Libra Coin - zoom

Image by Christoph Scholz via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
June 27, 2019

Payments can happen cheaply and easily without banks or credit card companies. This has now been demonstrated – not in the United States but in China. Unlike in the US, where numerous firms feast on fees from handling and processing payments, in China most money flows through mobile phones nearly for free. In 2018 these cashless payments totaled a whopping $41.5 trillion; and 90% were through Alipay and WeChat Pay, a pair of digital ecosystems that blend social media, commerce and banking. According to a May 2018 article in Bloomberg titled “Why China’s Payment Apps Give U.S. Bankers Nightmares“:
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Ellen Brown: Breaking Through the Money Power

For All Debts...

Image by AK Rockefeller via Flickr

with Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
September 30, 2016

“Commercial banks create money, in the form of bank deposits, by making new loans… 97% of the [money] currently in circulation [is] created by commercial banks themselves.”

— “Money creation in the modern economy”, Quarterly Bulletin, 2014 Q1, Bank of England

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Central Bank Digital Currencies: A Revolution in Banking? by Ellen Brown

Bitcoin

Image by Tiger Pixel via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
September 16, 2016

Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse).

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