The Venezuelan Myth by Ellen Brown

Hugo Chávez saludando al pueblo

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.

Continue reading

When And How The Economy Will Collapse Is Now In The Hands Of Central Bankers by Ellen Brown

Rich Uncle Pennybags

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.

Continue reading

“Guerrilla Warfare Against a Hegemonic Power”: The Challenge and Promise of Greece by Ellen Brown + Hudson: Capitalism & Government Debt at Odds

Greece solidarity protest at British Museum #OXI

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.

Continue reading

Banking Union Time Bomb: Eurocrats Authorize Bailouts AND Bail-Ins by Ellen Brown

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

Michael Hudson: Public Banking Needed to Stop “Cannibalization” of the Economy + Transcript

Nationalise the Banks

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.

Continue reading

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.

Continue reading

How a $13 Trillion Cover Story was Written by Michael Hudson

Dandelion Salad

by Prof. Michael Hudson
www.informationclearinghouse.info
http://michael-hudson.com
June 17, 2011

Tax the Rich placard

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.

Continue reading

Nader and Associates Letter to President Obama on GM’s IPO by Ralph Nader (updated)

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.

Continue reading