Money for the People: Grillo’s Populist Plan for Italy by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
March 7, 2013

Default on the public debt, nationalization of the banks, and a citizen dividend could actually save the Italian economy.

Comedian Beppe Grillo was surprised himself when his Five Star Movement got 8.7 million votes in the Italian general election of February 24-25th. His movement is now the biggest single party in the chamber of deputies, says The Guardian, which makes him “a kingmaker in a hung parliament.”

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How the Fed Could Fix the Economy—and Why It Hasn’t by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
February 24, 2013

North Dakota Banks large

Image by Truthout.org via Flickr

Quantitative easing (QE) is supposed to stimulate the economy by adding money to the money supply, increasing demand. But so far, it hasn’t been working. Why not? Because as practiced for the last two decades, QE does not actually increase the circulating money supply. It merely cleans up the toxic balance sheets of banks. A real “helicopter drop” that puts money into the pockets of consumers and businesses has not yet been tried. Why not?  Another good question . . . .

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The Trillion Dollar Coin: Joke or Game-changer? by Ellen Brown

Trillion Dollar Coin

Image by DonkeyHotey via Flickr

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
January 18, 2013

The trillion dollar coin actually represents one of the most important principles of popular prosperity ever conceived: the creation of money by sovereign governments, debt-free.

Last week on “The Daily Show,” Jon Stewart characterized the proposal that the White House circumvent the debt ceiling by minting a trillion dollar coin as an attempt to “just make shit up.”

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Fiscal Cliff: Let’s Call Their Bluff by Ellen Brown

Capitalism isn't working..

Image by secretlondon123 via Flickr

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
December 20, 2012

The “fiscal cliff” has all the earmarks of a false flag operation, full of sound and fury, intended to extort concessions from opponents.  Neil Irwin of the Washington Post calls it “a self-induced austerity crisis.”  David Weidner in the Wall Street Journal calls it simply theater, designed to pressure politicians into a budget deal:

The cliff is really just a trumped-up annual budget discussion. . . . The most likely outcome is a combination of tax increases, spending cuts and  kicking the can down the road.

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Ensuring Scottish Sovereignty: Exploring the Public Bank Option by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
December 8, 2012

The Royal Bank of Scotland & The One Million Pound Man

Image by Byzantine_K via Flickr

The Royal Bank of Scotland (RBS) and the Bank of Scotland have been pillars of Scotland’s economy and culture for over three centuries.  So when the RBS was nationalized by the London-based UK government following the 2008 banking crisis, and the Bank of Scotland was acquired by the London-based Lloyds Bank, it came as a shock to the Scots.  They no longer owned their oldest and most venerable banks.

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What Is QE Infinity? by Ellen Brown

bailout_is_a_scam

Image by sandy_sanders via Flickr

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
Oct. 3, 2012

QE3, the Federal Reserve’s third round of quantitative easing, is so open-ended that it is being called QE Infinity.  Doubts about its effectiveness are surfacing even on Wall Street.  The Financial Times reports:

Among the trading rooms and floors of Connecticut and Mayfair [in London], supposedly sophisticated money managers are raising big questions about QE3 — and whether, this time around, the Fed is not risking more than it can deliver.

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Why QE3 Won’t Jumpstart the Economy by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
Sept. 21, 2012

Untitled Project: DOLLAR STORE

Image by untitledprojects via Flickr

The economy could use a good dose of “aggregate demand”—new spending money in the pockets of consumers—but QE3 won’t do it.  Neither will it trigger the dreaded hyperinflation.  In fact, it won’t do much at all.  There are better alternatives.

The Fed’s announcement on September 13, 2012, that it was embarking on a third round of quantitative easing has brought the “sound money” crew out in force, pumping out articles with frighting titles such as “QE3 Will Unleash’ Economic Horror’ On The Human Race.”  Continue reading

The Myth That Japan Is Broke by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
Sept. 5, 2012

Just Japanese yen

Image by gordon (TD8316) via Flickr

Japan’s massive government debt conceals massive benefits for the Japanese people, with lessons for the U.S. debt “crisis.”

In an April 2012 article in Forbes titled “If Japan Is Broke, How Is It Bailing Out Europe?”, Eamonn Fingleton pointed out the Japanese government was by far the largest single non-eurozone contributor to the latest Euro rescue effort.  This, he said, is “the same government that has been going round pretending to be bankrupt (or at least offering no serious rebuttal when benighted American and British commentators portray Japanese public finances as a trainwreck).”   Continue reading

Saving the Post Office: Letter Carriers Consider Bringing Back Banking Services by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
August 12, 2012

Save the Post Office Rally

Image by Dandelion Salad via Flickr

On July 27, 2012, the National Association of Letter Carriers adopted a resolution at their National Convention in Minneapolis to investigate establishing a postal banking system.  The resolution noted that expanding postal services and developing new sources of revenue are important to the effort to save the public Post Office and preserve living-wage jobs; that many countries have a successful history of postal banking, including Germany, France, Italy, Japan, and the United States itself; and that postal banks could serve the 9 million people who don’t have bank accounts and the 21 million who use usurious check cashers, giving low-income people access to a safe banking system.  “A USPS bank would offer a ‘public option’ for banking,” concluded the resolution, “providing basic checking and savings – and no complex financial wheeling and dealing.”

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Why the Senate Won’t Touch Jamie Dimon: JPM Derivatives Prop Up U.S. Debt by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
June 20, 2012

2011 02 26 - Save the American Dream Rally (Olympia, WA)  145 by William Wright

Image by William Wright, seiuhealthcare775nw via Flickr

When Jamie Dimon, CEO of JPMorgan Chase Bank, appeared before the Senate Banking Committee on June 13, he was wearing cufflinks bearing the presidential seal. “Was Dimon trying to send any particular message by wearing the presidential cufflinks?” asked CNBC editor John Carney. “Was he . . . subtly hinting that he’s really the guy in charge?”

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Greece and the Euro: Time for a Divorce? by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
June 6, 2012

The problem is all inside your head she said to me
The answer is easy if you take it logically
I’d like to help you in your struggle to be free
There must be fifty ways to leave your lover.

–Lyrics by Paul Simon

The Euro appears to be a marriage of incompatible partners. A June 1st article in the UK Telegraph titled “Why Europe’s Love Affair with the European Project Is Ending” reported that two-thirds of 9,000 respondents thought that having the euro as their single currency was a mistake.

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Out of the Mouths of Babes by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
May 29, 2012

Construction

Image by colros via Flickr

The youtube video of 12 year old Victoria Grant speaking at the Public Banking in America conference last month has gone viral, topping a million views on various websites.

Monetary reform—the contention that governments, not banks, should create and lend a nation’s money—has rarely even made the news, so this is a first.  Either the times they are a-changin’, or Victoria managed to frame the message in a way that was so simple and clear that even a child could understand it.

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Cooperative Banking by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
May 23, 2012

According to both the Mayan and Hindu calendars, 2012 (or something very close) marks the transition from an age of darkness, violence and greed to one of enlightenment, justice, and peace.  It’s hard to see that change just yet in the events relayed in the major media, but a shift does seem to be happening behind the scenes; and this is particularly true in the once-boring world of banking.

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The Revolution Will Not Be Televised: Quiet Drama in Philadelphia by Ellen Brown + Philadelphia Rally Against State Austerity Measures

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
May 18, 2012

The revolution will not be on television

Image by Paul Williams (Iron Ammonite) via Flickr

“You will not be able to plug in, turn on and cop out.  You will not be able to skip out for beer during commercials.  Because the revolution will not be televised. . . . The revolution will be live.”

–From the 1970 hit song by Gil Scott-Heron

Last week, the city of Philadelphia’s school system announced that it expects to close 40 public schools next year, and 64 schools by 2017. The school district expects to lose 40% of its current enrollment, and thousands of experienced, qualified teachers.

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Indentured Servitude for Seniors: Social Security Garnished for Student Debts by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
May 11, 2012

Tax the rich, not our future placard

Image by Plashing Vole via Flickr

The Social Security program…represents our commitment as a society to the belief that workers should not live in dread that a disability, death, or old age could leave them or their families destitute. -– President Jimmy Carter, December 20, 1977.

[This law] assures the elderly that America will always keep the promises made in troubled times a half century ago… Continue reading