Executive Summary The US Treasury creates money through issuing debt — or a government bond, not through directly issuing money itself. Introduction The artistic video production company Kurzgesagt has some of the best video explanations on topics. In this video, they explain money and credit. This video has received more than 7 M views. However,…
Executive Summary A book of major importance on public banking. Introduction This is the third book by Ellen Brown on the topic of public banking. Many quotes from this book are used in entries on this website. Source: Banking on the People https://www.amazon.com/Banking-People-Democratizing-Money-Digital-ebook/dp/B07R3F6ZX7/
Executive Summary A document explains how to go about creating a public banking option. Introduction This document lays out very well the case for public banks. Source: The Public Banking Option https://markpaulecon.files.wordpress.com/2018/08/public-banking-option-final.pdf
Executive Summary A book that explains the nature of banking. Introduction The Banker’s Manifesto was published in 1892 and 1934. One quote from it is the following. “Capital must protect itself in every way through combination monopoly and through legislation. Debts must be collected and loans and mortgages are closed as soon as possible. When…
Executive Summary The Wizard of Oz was written to hide banking commentary. Introduction The Wizard of Oz is a veiled critique of private banking interests written in 1900. The parallels between the characters and the story of The Wizard of Oz are explained in the following quote. “Byran and many other Greenbackers (monetary reformers supporting…
Executive Summary One of the most important books in public banking. Introduction Written by Ellen Brown, it is a deep dive into the history of banking and makes a convincing case for the government wresting control over banking from private control. This website was in part motivated by the need to make the many threads…
Executive Summary Private banks specialize in privatizing profits while placing their losses onto the government or the public. Introduction Private banks excel at putting their risks onto the public. This is explained in the following quotation. “Bank of America Corporation moved its trillions in derivatives (mostly credit default swaps) from its Merrill Lynch unit to…
Executive Summary Payday or title loans are high interest and highly deceptive loans that are a form of banking exploitation. Introduction A form of predatory lending, the objective is to obtain such usurious interest from borrowers that they are forced into debt peonage. Payday Borrowing Patterns As demonstrated above, this can and usually does…
Executive Summary Predatory lending has been on the rise as laws against usury have been removed and circumvented. Introduction Private banks open predatory lending outlets in lower income neighborhoods. They don’t have the name of “banks” but names like “Fast Title Loans.” However, they are backed by private banks. They charge extremely high interest and…
Executive Summary Mortgage backed securities are a way of making money off of the government’s money creation function and avoiding the social responsibility of being a chartered bank. Introduction Mortgage-backed securities are a perfect example of the ludicrous behavior which private banking moves towards when the government loses its control to create money. First, a…