Ellen Brown

Ellen Brown

Ellen Brown is an attorney and founder of the Public Banking Institute. She is the author of twelve books, including the best-selling Web of Debt, and her latest book, The Public Bank Solution, which explores successful public banking models historically and globally.

Articles by this author

BlackRock has been called "the most powerful institution in the financial system." (Photo: Brooke Anderson/@movementphotographer) Views
Monday, June 22, 2020
Meet BlackRock, the New Great Vampire Squid
BlackRock is a global financial giant with customers in 100 countries and its tentacles in major asset classes all over the world; and it now manages the spigots to trillions of bailout dollars from the Federal Reserve. The fate of a large portion of the country’s corporations has been put in the...
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The American people are therefore entitled to share in the benefits and the profits. Banking needs to be made a public utility. (Photo: Twitter/@publicbankla) Views
Monday, May 18, 2020
Another Bank Bailout Under Cover of a Virus
When the Dodd Frank Act was passed in 2010, President Obama triumphantly declared, “No more bailouts!” But what the Act actually said was that the next time the banks failed, they would be subject to “bail ins”—the funds of their creditors, including their large depositors, would be tapped to cover...
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Wall Street sign Views
Sunday, May 03, 2020
Crushing the States, Saving the Banks: The Fed’s Generous New Rules
Congress seems to be at war with the states. Only $150 billion of its nearly $3 trillion coronavirus relief package – a mere 5% – has been allocated to the 50 states; and they are not allowed to use it where they need it most, to plug the holes in their budgets caused by the mandatory shutdown. On...
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 It took only a few days for Congress to unanimously pass the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which will be doling out $2.2 trillion in crisis relief, most of it going to Corporate America with few strings attached.  (Photo: Public domain) Views
Friday, April 03, 2020
Was the Fed Just Nationalized?
Mainstream politicians have long insisted that Medicare for all, a universal basic income, student debt relief and a slew of other much-needed public programs are off the table because the federal government cannot afford them. But that was before Wall Street and the stock market were driven onto...
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A man taking precautions amid the coronavirus outbreak walks past the New York Stock Exchange. (Photo: Mark Lennihan / AP) Views
Wednesday, March 11, 2020
The Fed’s Baffling Response to the Coronavirus Explained
When the World Health Organization announced on Feb. 24 that it was time to prepare for a global pandemic, the stock market plummeted. Over the following week, the Dow Jones Industrial Average dropped by more than 3,500 points, or 10%. In an attempt to contain the damage, the Federal Reserve on...
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Carbon capture could help limit the effects of climate change. (Photo: Brian Boucheron / Flickr) Views
Thursday, December 26, 2019
The Key to Solving the Climate Crisis Is Beneath Our Feet
The Green New Deal resolution that was introduced into the U.S. House of Representatives in February hit a wall in the Senate, where it was called unrealistic and unaffordable. In a Washington Post article titled “ The Green New Deal Sets Us Up for Failure. We Need a Better Approach ,” former...
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Paul Volcker. (Third Way Think Tank / CC BY-NC-ND 2.0) Views
Thursday, December 12, 2019
Paul Volcker’s Long Shadow
Former Federal Reserve Chairman Alan Greenspan called Paul Volcker “ the most effective chairman in the history of the Federal Reserve.” But while Volcker, who passed away Dec. 8 at age 92, probably did have the greatest historical impact of any Fed chairman, his legacy is, at best, controversial...
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Why are banks no longer lending to each other? Are they afraid that collapse is imminent somewhere in the system, as with the Lehman collapse in 2008? (Photo: Phillipp/cc/flickr) Views
Thursday, November 07, 2019
Is the Run on the Dollar Due to Panic or Greed?
What’s going on in the repo market? Rates on repurchase agreements (“repo”) should be around 2%, in line with the fed funds rate. But they shot up to over 5% on September 16 and got as high as 10% on September 17. Yet banks were refusing to lend to each other, evidently passing up big profits to...
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Federal Reserve Board Chairman Jerome Powell. (Photo by Alex Wong/Getty Images) Views
Monday, September 30, 2019
The Disaster of Negative Interest Rates
The dollar strengthened against the euro in August, merely in anticipation of the European Central Bank slashing its key interest rate further into negative territory. Investors were fleeing into the dollar, prompting President Trump to tweet on Aug. 30: The Euro is dropping against the Dollar “...
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China thinks this is a better banking model than the private Western system focused on short-term profits for private shareholders. (Photo: Thomas Peter-Pool/Getty Images) Views
Friday, August 09, 2019
Neoliberalism Has Met Its Match in China
When the Federal Reserve cut interest rates on July 31st for the first time in more than a decade, commentators were asking why. According to official data, the economy was rebounding, unemployment was below 4%, and GDP growth was above 3%. If anything, by the Fed’s own reasoning, it should have...
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