Trumping the Federal Debt Without Playing the Default Card by Ellen Brown

For All Debts...

Image by AK Rockefeller via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
August 19, 2015

“The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.”

— Former Fed Chairman Alan Greenspan on Meet the Press, August 2011

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Michael Hudson: Should The Federal Reserve Taper QE, If Banks Get Most of the Benefits?

Alternative Bailout Plan

Image by Mike Licht via Flickr

with Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
June 15, 2015

TheRealNews on Jun 15, 2015

UMKC professor of economics Michael Hudson explains how the bond-buying program helps keep interest rates low for everyday people but has also shored up bad mortgage loans of corrupt banks.

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Michael Hudson: QE Intentions All Too Obvious + Kleptocrats who run Ukraine economy will grab IMF cash & run

EU Austerity Albatross

Image by DonkeyHotey via Flickr

with Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
March 11, 2015

TheRealNews on Mar 10, 2015

Michael Hudson says quantitative easing is a pretext to assist banks make even more profits

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Amend the Fed by Ellen Brown

Federal Reserve Building in Washington D.C. - Illustration

Image by DonkeyHotey via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
December 7, 2013

December 23rd marks the 100th anniversary of the Federal Reserve. Dissatisfaction with its track record has prompted calls to audit the Fed and end the Fed. At the least, Congress needs to amend the Fed, modifying the Federal Reserve Act to give the central bank the tools necessary to carry out its mandates.

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Collateral Damage: QE3 and the Shadow Banking System by Ellen Brown

by Ellen Brown
Writer, Dandelion Salad
webofdebt.com
July 23, 2013

北京央行紧急救“钱荒”(图)

Image by 禁书网中国禁闻 via Flickr

Rather than expanding the money supply, quantitative easing (QE) has actually caused it to shrink by sucking up the collateral needed by the shadow banking system to create credit. The “failure” of QE has prompted the Bank for International Settlements to urge the Fed to shirk its mandate to pursue full employment, but the sort of QE that could fulfill that mandate has not yet been tried.

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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

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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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How Congress Could Fix Its Budget Woes, Permanently by Ellen Brown

Defeat Capitalism!

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by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
February 13, 2013

As Congress struggles through one budget crisis after another, it is becoming increasingly evident that austerity doesn’t work. We cannot possibly pay off a $16 trillion debt by tightening our belts, slashing public services, and raising taxes. Historically, when the deficit has been reduced, the money supply has been reduced along with it, throwing the economy into recession. After a thorough analysis of statistics from dozens of countries forced to apply austerity plans by the World Bank and IMF, former World Bank chief economist Joseph Stiglitz called austerity plans a “suicide pact.”

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Michael Hudson: QE3 Another Fed Give Away to the Banks

Day 9 Occupy Wall Street September 25 2011 Shankbone 25

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Updated: Sept. 25, 2012 added transcript

with Michael Hudson
Featured Writer
Dandelion Salad
http://michael-hudson.com
September 23, 2012

Sep 23, 2012 by

Michael Hudson: Shoveling money to the banks not meant to create jobs, it’s a way to give banks even more speculative capital and prepare them for another meltdown.

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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

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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

Keiser Report: Richard Heinberg: Energy in the current debt crisis

https://dandelionsalad.wordpress.com/

 on Aug 18, 2011

This week Max Keiser and co-host, Stacy Herbert, look at how quantitative easing is good for the rich, bad for the poor and how sterling is offering no refuge. In the second half of the show Max talks to Richard Heinberg, author of The End of Growth, about the role of energy in the current debt crisis.

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The Silent Liquidity Squeeze by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
July 15, 2011

Where did all the jobs go? Small and medium-sized businesses are the major source of new job creation, and they are not hiring. Startup businesses, which contribute a fifth of the nation’s new jobs, often can’t even get off the ground. Why?

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Why QE2 Failed: The Money All Went Offshore by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
July 9, 2011

On June 30, QE2 ended with a whimper. The Fed’s second round of “quantitative easing” involved $600 billion created with a computer keystroke for the purchase of long-term government bonds. But the government never actually got the money, which went straight into the reserve accounts of banks, where it still sits today. Worse, it went into the reserve accounts of FOREIGN banks, on which the Federal Reserve is now paying 0.25% interest.

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Inflation Fears: Real or Hysteria? by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
May 10, 2011

Debate continues to rage between the inflationists who say the money supply is increasing, dangerously devaluing the currency, and the deflationists who say we need more money in the economy to stimulate productivity. The debate is not just an academic one, since the Fed’s monetary policy turns on it, and so does Congressional budget policy.

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Can We Give The Hyperinflation-thing a Rest? By Mike Whitney

https://dandelionsalad.wordpress.com/

Capitalism Kills

Image by Dandelion Salad via Flickr

By Mike Whitney
Information Clearing House
April 26, 2011

The Federal Reserve is not going to push the economy into Zimbabwean hyperinflation. That’s pure bunkum. The Fed’s plan is to weaken the dollar to boost exports and to force China to let its currency appreciate to its fair-market value. The policy should help to lower the US’s bulging current account deficit. By purchasing $600 billion in US Treasuries (QE2), the Fed effectively reduces the supply of risk-free assets, which sends investors into riskier assets like stocks and commodities. Is there an element of class warfare in the policy?

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