Ellen Brown - Public Banking 2013: Funding the New Economy, June 2nd 2013
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"Public Banking: The Public Bank Solution" Ellen Brown Chairman and President, Public Banking Institute Public Banking 2013 Funding the New Economy June 2nd 2013 Dominican University, San Rafael, CA Support Public Banking www.friendsofpublicbanking.org
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you have a good handle on all this except for the money multiplier - which is really just an instructional tool, not a reality. Reserve requirements do NOT constrain the total amount of loans a bank can make, or M3.
So a bank has $100, it lends $90 however as the banking systems of mos countries are highly concentrated there is a high chance that a good chunk of that $90 will end up in the original bank, which can now be used for another loan. Thats a micro example. If you look at the macro level and central bank operations you see that banks can borrow infinite reserves from the central bank (the Fed is the USA) and therefor make infinite loans. The one constraint is of course borrowers whom you want to have a reasonable chance of paying back the loan. And then we had the sub-prime scandal............ -
Wasn't JFK's xecutive order 11110 about public banking ?
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Listening to Ellen Brown's talks and interviews has been a mind opening experience. Going to read her latest book. Thanks for posting!
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Could you put a link to her presentation slides in the video description? That would be really helpful. Thanks!
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The loan is from the public to the mortgagee. Public gives goods and services to the mortgagee in exchange for mortgagee's IOU slips (dollars.) Mortgagee repays public with goods and services and returns to bank with public's IOU slips to show this repayment. Bank requires contract, collateral. and income -- then has mortgagee pay into an insurance fund against risk of default. This is the down-payment and the insurance fund is the reserve. Banks loan nothing and charge interest. It is fraud.
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Money is created when people "borrow" from their future income. The sole purpose of the banks is allow you to yank a chunk of your productivity from the future and use it today. In a stable society this is perfectly reasonable but this should be a "utililty" run by the state, not some bloodsucking parasite.
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I am shocked that Peter Schiff doesn't get this!
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Thank you for this presentation. I have been learning alot about central banks and banking vs. public banking. I am also learning about honest or sound money and sound banking. I have found the best way to help others understand is the 3 part series of "Money as Debt" on youtube.
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Trust me. The siren call of charlatans and thieves through out history.
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Very interesting and clearly explained. Is there a way to see the Presentation? Thanks.
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