Ellen Brown

For local governments, public banks offer a path to escape monopoly control by giant private financial institutions over public policies.

The Fed must rely on private banks to inject credit into Main Street, and private banks are currently unable or unwilling to do it. The tools the Fed actually needs are public banks, which could and would do the job.

No private, unelected entity should have the power over the economy that BlackRock has, without a legally enforceable fiduciary duty to wield it in the public interest.

Insolvent Wall Street banks have been quietly bailed out again. Banks made risk-free by the government should be public utilities. 

The new terms could be harnessed for local governments to own and operate their own banks.

Did Congress just nationalize the Fed? No. But the door to that result has been cracked open.

The next time the country’s largest banks become insolvent, rather than bailing banks out, Congress should nationalize them.

The bottom line is that saving the planet from environmental destruction is not only achievable, but that by focusing on regenerative agriculture and tapping up the central bank for funding, the climate crisis can be addressed without raising taxes and while restoring our collective health.