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

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...
Read more
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...
Read more
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...
Read more
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...
Read more
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 “...
Read more
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...
Read more
The successful six-year run of Abenomics, along with China’s decades of unprecedented economic growth, have proven that governments can indeed monetize their debts, expanding the money supply and stimulating the economy, without driving up consumer prices. (Photo: Japanese Prime Minister Shinzo Abe speaks at a press conference following the G20 Osaka Summit in Osaka/AFP) Views
Thursday, July 11, 2019
How to Pay for It All: An Option the Candidates Missed
The Democratic Party has clearly swung to the progressive left, with candidates in the first round of presidential debates coming up with one program after another to help the poor, the disadvantaged and the struggling middle class. Proposals ranged from a Universal Basic Income to Medicare for All...
Read more
Facebook CEO Mark Zuckerberg speaks at a 2014 San Francisco event in front of a screen showing one of the tech giant's early mottos, "Move Fast and Break Things." (Photo: Mike Deeroski / Flickr/CC BY 2.0) Views
Wednesday, June 26, 2019
Facebook May Pose a Greater Danger Than Wall Street
Payments can happen cheaply and easily without banks or credit card companies, as has already been demonstrated—not in the United States but in China. Unlike in the U.S., where numerous firms feast on fees from handling and processing payments, in China most money flows through mobile phones nearly...
Read more
Newly-created credit directed into local communities by publicly-owned banks can provide the additional funding that local governments critically need. (Photo: 401kcalculator.org) Views
Thursday, April 18, 2019
The Public Banking Revolution Is Upon Us
As public banking gains momentum across the country, policymakers in California and Washington state are vying to form the nation’s second state-owned bank, following in the footsteps of the highly successful Bank of North Dakota, founded in 1919. The race is extremely close, with state bank bills...
Read more
The Fed is realizing that it cannot bring its balance sheet back to “normal.” (Photo: LeoLondon / CC BY-NC-ND 2.0) Views
Friday, February 22, 2019
The Fed's Dramatic About-Face
“Quantitative easing” was supposed to be an emergency measure, but the Federal Reserve is now taking a surprising new approach toward the policy. The F ed “eased” shrinkage in the money supply due to the 2008-09 credit crisis by pumping out trillions of dollars in new bank reserves. After the...
Read more

Pages