Mary Mellor on “It’s Our Money”

The debt-money regime seems to have run its course. Happily, alternatives are being explored in the form of outright free public issue of money directly to the people — “QE for the People.” On “It’s Our Money,” we look at several dimensions of these ideas. Ellen speaks with noted UK professor and author Mary Mellor about the democratization of money and financial systems. Co-host Walt McRee discusses the current Bretton Woods IV Convocation which is focusing on the vital need for reclaiming public control of money, and on the Public Banking Report Matt Stannard takes a look at the morality of money.

Archived here.

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Mary at a Sept 2015 workshop in Berlin with event hosts Michel Bauwens and David Bollier. The event was sponsored by the Heinrich Böll Foundation and was called “Deep Dive: Capital for the Commons.”

Conferences: Two Upcoming and a Video

I’ll be attending four conferences before I get home October 8, two down (Berlin and Basel) and two to go. The two upcoming are in Columbus OH and Bretton Woods NH and are open to the public. I’ll be speaking on Oct 3 and 6, respectively. It would be great to see you there! The first one is also livestreamed. Details below:


Inaugural Conference
October 2-3, 2015
Denison University, Granville, Ohio


Sustainable Full Employment and Transformational Technologies”


Toward the Redemption of Our Financial System & Restitution of Our Common Wealth

Sept 29- October 6, Mt. Washington Hotel, Bretton Woods, NH

Videos have also now been posted of the Economics of Happiness Conference in Portland OR on Feb 27, 2015. My power point presentation is below.

Cheers, Ellen

Time for the Nuclear Option: Raining Money on Main Street

Predictions are that we will soon be seeing the “nuclear option” — central bank-created money injected directly into the real economy. All other options having failed, governments will be reduced to issuing money outright to cover budget deficits. So warns a September 18 article on ZeroHedge titled “It Begins: Australia’s Largest Investment Bank Just Said ‘Helicopter Money’ Is 12-18 Months Away.”

Money reformers will say it’s about time. Virtually all money today is created as bank debt, but people can no longer take on more debt. The money supply has shrunk along with people’s ability to borrow new money into existence. Quantitative easing (QE) attempts to re-inflate the money supply by giving money to banks to create more debt, but that policy has failed. It’s time to try dropping some debt-free money on Main Street. Continue reading

“It’s Nature’s Way of Telling You” — Dr. Lynne Walker & Jamie Brown on “It’s Our Money”

The evolution of financial systems is seldom matched with the evolution of biological systems, just as Western medicine has too long ignored nature’s own abilities to heal and sustain personal health. In both cases imposition of monetary control over these systems ignores signposts and laws that can lead to doom. Ellen speaks with co-author, physician and pharmacist Dr. Lynne Walker about the institutional hypocrisy that drives profits over people’s health, while co-host Walt McRee reviews Jamie Brown’s groundbreaking work on the wisdom of mimicking nature when designing new sustainable economic systems.

Archived here.

Dr. Richard Wolff on “It’s Our Money”

Capitalism is often touted as the most dynamic marketplace performer capable of lifting more boats faster than any other — but why then do we see its colossal failures as a stable and equitable driver of well-being for the vast majority of its practitioners? Ellen speaks with one of the most knowledgeable experts on economic systems, Dr. Richard Wolff, about how capitalism fails in part because of its anti-democratic underpinnings that rock many of those boats and swamp others while letting the captains of capital cruise on. We also talk about the emerging popularity of Quantitative Easing for the People and the importance of values-driven common cause for change.

Listen to the archive here.

Quantitative Easing for People: The UK Labour Frontrunner’s Controversial Proposal

British MP Jeremy Corbyn has proposed a “People’s QE” that has critics crying hyperinflation and supporters saying it’s about time.

Dark horse candidate Jeremy Corbyn, who is currently leading in the polls for UK Labour Party leadership, has included in his platform “quantitative easing for people.” He said in a July 22nd presentation:

The ‘rebalancing’ I have talked about here today means rebalancing away from finance towards the high-growth, sustainable sectors of the future. How do we do this? One option would be for the Bank of England to be given a new mandate to upgrade our economy to invest in new large scale housing, energy, transport and digital projects: Quantitative easing for people instead of banks.

Continue reading

Dr. Tim Canova on “It’s Our Money”

tim canova“No flow, no go.” That may be the simplest way to describe the critical role of central banks to the flow of credit and money into any monetary system. It was the lack of access to cash and bank liquidity that humbled Greece, Detroit and others. Ellen speaks with Dr. Timothy Canova, one of the foremost experts on our central bank, the Federal Reserve, about why their operation of our cash spigot determines who wins and who loses.

Read more and listen here.

Trumping the Federal Debt Without Playing the Default Card

“The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.”

— Former Fed Chairman Alan Greenspan on Meet the Press, August 2011

In a post on “Sovereign Man” dated August 14th, Simon Black argued that Donald Trump may be the right man for the presidency:

[T]here’s one thing that really sets him apart, that, in my opinion, makes him the most qualified person for the job:

Donald Trump is an expert at declaring bankruptcy.

When the going gets tough, Trump stiffs his creditors. He’s done it four times!

Candidly, this is precisely what the Land of the Free needs right now: someone who can stop beating around the bush and just get on with it already.

Continue reading

Michael Hudson on It’s Our Money with Ellen Brown

Michael Hudson

Is the financial deprivation of entire nations engendering a new level of frustration and political unrest? Are the unlikely top-ranked US presidential candidates a sign that the Europeans aren’t the only ones who want to “throw the bums out?”  These emerging political themes are the subject of It’s Our Money, as Ellen engages renowned author, advisor and economics professor Michael Hudson, just back from his consultations with Greece’s Syriza party. Archived here.

John Cobb, Mark Anielski and Ellen Brown at Herman Daly Plenary, Pando Populus Conference, Claremont

Mark Anielski and I spoke on a panel following Herman Daly’s plenary address on “Ecological Economics for an Ecological Civilization,” at an international conference called SEIZING AN ALTERNATIVE: Toward an Ecological Civilization, held on the campus of Pomona College, Claremont, CA June 4-7, 2015. John B. Cobb, Jr. also joined Daly’s plenary discussion. Mark is at 1:02:25 and I’m at 1:10:36 on the ticker.

The Greek Coup: Liquidity as a Weapon of Coercion

“My father made him an offer he couldn’t refuse. Luca Brasi held a gun to his head and my father assured him that either his brains, or his signature, would be on the contract.”                                                                                                                                                 — The Godfather (1972)

In the modern global banking system, all banks need a credit line with the central bank in order to be part of the payments system. Choking off that credit line was a form of blackmail the Greek government couldn’t refuse. 

Former Greek finance minister Yanis Varoufakis is now being charged with treason for exploring the possibility of an alternative payment system in the event of a Greek exit from the euro. Continue reading

“We’re All Greeks Now” — Stephen Lendman on “It’s Our Money”

It isn’t just the Greeks, or the Cypriots, or the Irish, or the Icelanders suffering the price of financial terrorism – the extractive demands of global central banks on display in Greece are actively draining the marrow of impoverished communities the world over. Ellen speaks with author and expert Stephen Lendman about the financial powers forcibly overruling Greek democracy, and their intentions to do so everywhere.  Co-host Walt McRee speaks with an official of one California county government pushing back against convicted bank felons, and later discusses new human evolutionary awareness about our relationship with money with philosopher Robert Bows.  And Matt Stannard discusses our myths about “the Great American Entrepreneur” on the Public Banking Report.

Listen here.

Grexit or Jubilee? How Greek Debt Can Be Annulled

The crushing Greek debt could be canceled the way it was made – by sleight of hand. But saving the Greek people and their economy is evidently not in the game plan of the Eurocrats.

Greece’s creditors have finally brought the country to its knees, forcing President Alexis Tsipras to agree to austerity and privatization measures more severe than those overwhelmingly rejected by popular vote a week earlier. No write-down of Greece’s debt was included in the deal, although the IMF has warned that the current debt is unsustainable.

Former Greek finance minister Yanis Varoufakis calls the deal “a new Versailles Treaty” and “the politics of humiliation.” Greek defense minister Panos Kammenos calls it a “coup d’état” done by “blackmailing the Greek prime minister with collapse of the banks and a complete haircut on deposits.” Continue reading

Paul Craig Roberts on “It’s Our Money” — “Greece-y Mess”

There are many reasons to keep our focus on Greece — self-interest being one.  Dr. Paul Craig Roberts returns to disclose the backstory of the political-bankster collaboration that has brought Greece to its knees and threatens economies the world over, including ours. Ellen suggests a solution for how the Greeks can proceed from here. Matt Stannard takes a historical look at German/Greek finances and we discuss the important leadership of Pope Francis’ review of what’s really important in any economy. Hint: it’s not about your wallet.  

Listen here.

“Guerrilla Warfare Against a Hegemonic Power”: The Challenge and Promise of Greece

Banks create money when they make loans. Greece could restore the liquidity desperately needed by its banks and its economy by nationalizing the banks and issuing digital loans backed by government guarantees to its ailing businesses. Greece could provide an inspiring model of sustainable prosperity for the world. But it is being strangled by a hegemonic power in a financial war that is being waged against us all.  

On July 4, 2015, one day before the national vote on the austerity demands of Greece’s creditors, it was rumored in the Financial Times that Greek banks were preparing to “bail in” (or confiscate) depositor funds to replace the liquidity choked off by the European Central Bank.

The response of the Syriza government, to its credit, was “no way.” As reported in Zerohedge, the government was prepared to pursue three “nuclear options” to protect the deposits of the Greek people: Continue reading

A Revolutionary Pope Calls for Rethinking the Outdated Criteria That Rule the World

Pope Francis’ revolutionary encyclical addresses not just climate change but the banking crisis. Interestingly, the solution to that crisis may have been modeled in the Middle Ages by Franciscan monks following the Saint from whom the Pope took his name.

Pope Francis has been called “the revolutionary Pope.” Before he became Pope Francis, he was a Jesuit Cardinal in Argentina named Jorge Mario Bergoglio, the son of a rail worker. Moments after his election, he made history by taking on the name Francis, after Saint Francis of Assisi, the leader of a rival order known to have shunned wealth to live in poverty.

Pope Francis’ June 2015 encyclical is called “Praised Be,” a title based on an ancient song attributed to St. Francis. Most papal encyclicals are addressed only to Roman Catholics, but this one is addressed to the world. And while its main focus is considered to be climate change, its 184 pages cover much more than that. Among other sweeping reforms, it calls for a radical overhaul of the banking system. It states in Section IV: Continue reading

Today on “It’s Our Money” — “Mad as Hell” Over Fast Track

Anchorman Howard Beale’s outburst that mobilized a nation to scream out their windows in anger at the tyranny of the powers-that-be makes an apt sequel to this week’s news that Fast Track approval of the TPP appears imminent. Ellen speaks with Kevin Zeese, the foremost leader of national citizen’s campaigns pushing back against the obvious collusion of government leaders and corporate interests. It will have you heading toward your own windows. Co-host Walt McRee speaks with Chuck Watts of the Empathy Surplus Project about the power of language in creating the new economy and a new generation of public policy, while Matt Stannard reflects on Wells Fargo’s recent efforts at impacting social justice.

Listen at noon pst/3 pm est here or archived thereafter here.

USAWatchDog: Obama Secret Trade Deal Serves Corporations and Banks

“Sentence First, Verdict Afterwards”: The Alice in Wonderland World of Fast-tracked Secret Trade Agreements

`Let the jury consider their verdict,’ the King said, for about the twentieth time that day.

`No, no!’ said the Queen. `Sentence first–verdict afterwards.’

`Stuff and nonsense!’ said Alice loudly. `The idea of having the sentence first!’

`Hold your tongue!’ said the Queen, turning purple.

`I won’t!’ said Alice.

`Off with her head!’ the Queen shouted at the top of her voice.

                    — Lewis Carroll, “Alice’s Adventures in Wonderland”

Fast-track authority is being sought in the Senate this week for the Trans-Pacific Partnership (TPP), along with the Trade in Services Agreement (TiSA) and any other such trade agreements coming down the pike in the next six years. The terms of the TPP and the TiSA are so secret that drafts of the negotiations are to remain classified for four years or five years, respectively, after the deals have been passed into law. How can laws be enforced against people and governments who are not allowed to know what was negotiated? Continue reading

New on “It’s Our Money” — Monetary Reform: Trending


Remarkable changes are underway in the world of monetary policy, theory and even the forms of money itself.  Beyond just technology, these new forms and re-forms of the dominant money control systems are being pushed by the need for fairer economic distribution as well as raging battles between global private banks and citizens of Greece, Spain, Canada and more.  This week Ellen speaks with Uli Kortsch, president of Global Partners Investments, who advocates replacing money creation by private banks through “fractional reserve lending” with government-issued money, and we visit with colleagues in London working on something similar.  Co-host Walt McRee discusses a new series of workbooks designed to enable more local investment while Matt Stannard discusses the humanitarian concerns imposed by the Trans-Pacific Partnership. Listen to the podcast here.


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