Image by Steffi Reichert via Flickr
by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog, Apr. 3, 2020
April 4, 2020
Did Congress just nationalize the Fed? No. But the door to that result has been cracked open.
Image by Globovisión via Flickr
by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
February 10, 2019
Modern Monetary Theory (MMT) is getting significant media attention these days, after Alexandria Ocasio-Cortez said in an interview that it should “be a larger part of our conversation” when it comes to funding the Green New Deal. According to MMT, the government can spend what it needs without worrying about deficits. MMT expert and Bernie Sanders advisor Prof. Stephanie Kelton says the government actually creates money when it spends. The real limit on spending is not an artificially imposed debt ceiling but a lack of labor and materials to do the work, leading to generalized price inflation. Only when that real ceiling is hit does the money need to be taxed back, and then not to fund government spending but to shrink the money supply in an economy that has run out of resources to put the extra money to work.
Image by Sean Davis via Flickr
by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
September 15, 2018
Central bankers are now aggressively playing the stock market. To say they are buying up the planet may be an exaggeration, but they could. They can create money at will, and they have declared their “independence” from government. They have become rogue players in a game of their own.
Image by Tom Pursey via Jubilee Debt Campaign via Flickr
by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
July 10, 2015
Banks create money when they make loans. Greece could restore the liquidity desperately needed by its banks and its economy by nationalizing the banks and issuing digital loans backed by government guarantees to its ailing businesses. Greece could provide an inspiring model of sustainable prosperity for the world. But it is being strangled by a hegemonic power in a financial war that is being waged against us all.
by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
March 29, 2014
“As things stand, the banks are the permanent government of the country, whichever party is in power.”
– Lord Skidelsky, House of Lords, UK Parliament, 31 March 2011)
On March 20, 2014, European Union officials reached an historic agreement to create a single agency to handle failing banks. Media attention has focused on the agreement involving the single resolution mechanism (SRM), a uniform system for closing failed banks. But the real story for taxpayers and depositors is the heightened threat to their pocketbooks of a deal that now authorizes both bailouts and “bail-ins” – the confiscation of depositor funds. The deal involves multiple concessions to different countries and may be illegal under the rules of the EU Parliament; but it is being rushed through to lock taxpayer and depositor liability into place before the dire state of Eurozone banks is exposed. Continue reading
Image by The Workers’ Party of Ireland via Flickr
by Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
March 29, 2013
TheRealNews on Mar 29, 2013
Michael Hudson: As long as finance is left in private hands, you’re going to have austerity and America ending up looking like Greece and Ireland.
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.
by Prof. Michael Hudson
www.informationclearinghouse.info
http://michael-hudson.com
June 17, 2011
Image by Plashing Vole via Flickr
Free money creation to bail out America’s elite financial speculators, but not for Social Security or Medicare
Only the “Crazies” Get the Bank Giveaway Right
Financial crashes were well understood for a hundred years after they became a normal financial phenomenon in the mid-19th century. Much like the buildup of plaque deposits in human veins and arteries, an accumulation of debt gained momentum exponentially until the economy crashed, wiping out bad debts – along with savings on the other side of the balance sheet.
https://dandelionsalad.wordpress.com/
Updated: Nov. 18, 2010
by Ralph Nader
The Nader Page
November 11, 2010
President Barack Obama
The White House
1600 Pennsylvania Avenue, NW
Washington, DC 20500
Dear President Obama,
The U.S. government bailout of, and acquisition of a majority share in, General Motors was an exceptional action, taken in response to exceptional circumstances. The U.S. stake in GM obviously poses novel managerial challenges to the government. The appropriate response to those challenges, however, is not to run from the responsibility through passive ownership and premature sale at a loss to taxpayers.
Dandelion Salad 