Regime Change at the Fed: From Big Bank Bailouts to Local Productivity

Posted on February 25, 2026 by Ellen Brown

Image by ScheerPost.

On January 30, when former Federal Reserve board member Kevin Warsh was nominated by President Trump as the central bank’s next chair, markets sold off and gold and silver plunged. Investors were positioned for a “dove,” someone inclined to cut rates aggressively and keep money loose; and Warsh has a long-standing reputation as a “hawk.” 

So wrote Michael Nicoletos in an article titled “Everyone Is Focusing on the Wrong Thing.” But Nicoletos and some other commentators are seeing something else on the horizon – a rebalancing of the banking system through an overhaul of the Federal Reserve itself. In recent months, noted Nicoletos,  Warsh has argued that the central bank’s “bloated balance sheet” has made borrowing “too easy” for Wall Street, while leaving “credit on Main Street too tight.” That contrast — abundant liquidity for the largest financial institutions, scarcity for the communities that actually generate economic activity — is a structural flaw that has unbalanced the American economy.

Nicoletos explained:

For the better part of fifteen years, the dominant approach to economic management went something like this: the Fed buys massive amounts of Treasuries and mortgage-backed securities (Quantitative Easing), flooding the financial system with reserves. This pushes asset prices higher: stocks, bonds, and real estate. The people who own those assets feel wealthier. Through this “wealth effect,” they spend more. And since roughly 70% of U.S. GDP is consumption, the economy grows. 

As a result:

The top 10% of Americans, who own the vast majority of financial assets, did exceptionally well. The other 90%, the average worker, the small business owner, the person trying to buy their first home, were largely left behind. 

Nicoletos called the Warsh nomination a regime-change story, a shift in how policymakers think about growth, inflation, and the Fed’s role in markets. Warsh has spent years at the Hoover Institution arguing that the Fed’s balance sheet is bloated and that Quantitative Easing distorted markets. He has described QE-driven growth as a temporary “sugar high,” and he has called for “regime change” at the Fed. Rather than controlling inflation through QE and higher interest rates, he argues, it should be focused on increasing supply through local productivity. 

Nicoletos observes that Treasury Secretary Scott Bessent, too, has been arguing that the economy needs to shift away from Wall Street-driven liquidity to Main Street-driven credit. Bessent says the era of the Fed being the primary engine of financial markets should end. Stephen Miran, a Governor at the Federal Reserve, has also been speaking publicly for lower rates, a smaller Fed footprint, and faster growth. 

The new approach, says Nicoletos, represents a fundamental shift in policy. “Instead of relying on the Fed’s balance sheet to inject liquidity from the top down, the idea is to use the banking system to channel credit from the bottom up.”

Echoes from the Treasury

In remarks before the Federal Community Bank Conference on Oct. 9, 2025, Treasury Sec. Bessent said, “Since 2010, we’ve lost 3,600 community banks. That’s not sustainable.” He emphasized the collapse of new bank formation since 2008, the regulatory tilt toward megabanks, the need to restore local lending ecosystems, and a goal of “Parallel Prosperity” — Wall Street and Main Street rising together. He affirmed, “No longer will regulation serve to entrench big banks and empower Washington bureaucrats to the detriment of community banks and the clients they serve.”

How would this rebalancing be carried out? In a letter in The Wall Street Journal by Bessent and Sen. Bill Hagerty titled “How to Make Main Street Banks Great Again,” the co-authors observed:

The biggest banks benefit from a perceived government guarantee that smaller institutions lack.

This perceived guarantee has contributed to the steady disappearance of community banks. The U.S. has lost 3,600 of them since 2010, a 45% decline. Community banks’ share of bank assets has fallen to 15% from 23%. Their share of outstanding loans has dropped to 20% from 27%. …

Despite holding only 15% of industry assets and deposits, community banks account for 40% of small-business loans and 70% of agricultural loans.

Empowering them to succeed is essential to driving economic growth in America’s heartland. 

… Dodd-Frank was supposed to end “too big to fail” but instead created “too small to succeed.” It’s time for regulators and Congress to reckon with the damage that the act has inflicted on community banks and the families that depend on them. To expand opportunity for all Americans, the banks that serve Main Street must have the same chance to succeed as the banks that serve Wall Street.

The proposed solution of Bessent and Hagerty is legislation involving “targeted expansion of deposit insurance” to include non-interest-bearing deposits over the current limit:

This would put community banks on a more even playing field with their larger competitors, and provide small businesses more certainty to maintain their payroll and other operating accounts with community banks in times of stress. By bolstering depositor confidence and reducing the risk of runs, the policy would prevent costly failures before they happen.

How About Some “Mini-Feds” for the States?

FDIC insurance coverage for business payroll is no doubt a good idea, but to really level the playing field, community banks need more. They lack the access to liquidity and the “implicit guarantee” of the biggest banks, which remain “too big to fail.” A more comprehensive approach would be for states to establish their own “mini-Feds” as backstops for local bank liquidity and capitalization. For a model of how this can be done and how well it works, we have a 106-year-old example in North Dakota.

The state-owned Bank of North Dakota (BND) has actually been called a mini-Fed for the state’s local banks. North Dakota has maintained a stable, locally-rooted banking ecosystem while the rest of the country consolidated, and it has more community banks per capita than any other state. The BND provides correspondent banking services to virtually every financial institution in North Dakota. It provides secured and unsecured federal fund lines, check-clearing, cash management, and automated clearing house services for local banks. It participates in their loans and guarantees them. The banks are thus willing to take on more risk, and they have been able to keep loans on their books rather than selling them to investors to meet capital requirements.  As a result, North Dakota banks were able to avoid the 2008-09 subprime and securitization debacles and the 2023 wave of bank bankruptcies.

By partnering with the BND, local banks can also take on local projects that might be too large for their own resources, projects that might otherwise go to out-of-state banks or remain unfunded. Due to this amicable partnership, the North Dakota Bankers’ Association endorses the BND as a partner rather than a competitor of the state’s private banks.

Unlike the Federal Reserve, which is not authorized to support state and local governments except in very limited circumstances, North Dakota’s “mini-Fed” can help directly with state government funding. Having a cheap and ready credit line with the state’s own bank reduces the need for wasteful rainy-day funds invested at minimal interest in out-of-state banks. The BND has also demonstrated the power of a state-owned bank to leverage state funds into new credit for disaster relief and other local needs.

The BND has had an average return on equity of close to 20% in this century. Truth in Accounting’s annual Financial State of the States report rated North Dakota #1 in fiscal health for 2025, with a budget surplus per taxpayer of $63,300. In 2024, North Dakota was rated by Forbes Magazine the best state in which to start a business. The BND model is a win-win for local banks, the state government, ND taxpayers, and the state’s local communities.

Introducing Don Morgan, Public Banking’s New Champion 

In the last 15 years, over 50 bills have been filed in states across the country for public banks like the Bank of North Dakota. But so far, none of those bills has passed. Why not? Opposition by big out-of-state banks was anticipated; but community bankers have also expressed concern, worried that the state bank will compete and take their business. 

Don Morgan, who has been BND president for the past two years, has now put those concerns to rest. The BND has long kept a low profile, but Morgan represents a new generation, willing to take the show on the road. He says he loves talking about the Bank of North Dakota. In two recent in-person presentations — at Harvard Law School and before New Mexico legislators and bankers in Santa Fe — he has detailed the bank’s history, structure and successes. He stresses that the BND is forbidden by law to compete with North Dakota’s private banks. Instead, it partners with them. 

Morgan is an engaging speaker who is easy to understand, and his presentations have put legislators and community bankers at ease with the concepts. The recorded podcasts (linked above) are well worth a listen. 

The Collateral Obstacle

Other hurdles for public bank advocates are chartering requirements that the BND did not face in 1919. These include FDIC deposit insurance and deposit collateralization of 100% or more – requirements that actually make no sense for a public bank whose deposits come from the local government that owns it.

Consider California, which has state tax revenues exceeding $62 billion (down from $92 billion a year ago). These funds must be deposited somewhere. Under current law, any bank holding California public deposits must pledge 110% collateral in the form of Treasuries or agency securities to back them. The rule was designed to protect public money, but it has contributed to the same structural asymmetry noted by Warsh and Bessent. 

Large Wall Street banks can meet collateral requirements easily. They “insure” their capital with interconnected derivatives backed by collateral that has been “rehypothecated” (pledged or re-used several times over). The Financial Stability Board in Basel has declared that practice to be risky, “[a]s demonstrated by the 2007-09 global financial crisis.” The five largest Wall Street depository banks hold $223 trillion in derivatives — a risk highlighted by the Bank for International Settlements as “huge, missing and growing.” 

But the mega-banks are classified as “SIFIs” – Systemically Important Financial Institutions; and under the Dodd Frank Act of 2010, a SIFI that goes bankrupt will be recapitalized through “bail-ins,” meaning the banks are to “bail in” or confiscate capital from their creditors, including their “secured” and “collateralized” depositors. Under the Bankruptcy Act of 2005 and Uniform Commercial Code Secs. 8 and 9, derivative and repo claims have seniority over all others and could easily wipe out all of the capital of a SIFI, including the “collateralized” deposits of state and local governments. The details are complicated, but the threat is real and imminent. See David Rodgers Webb’s The Great Taking, and Chris Martenson’s series drilling down into the obscure legalese of the enabling legislation, concluding here.

Main Street banks do not have access to those pools of collateral or to the Fed’s implicit bailout guarantee. As a result, local government deposits tend to flow to the largest banks, while local banks are shut out of the liquidity they need. Main Street credit remains tight, the state’s own money leaves the state economy, and public bank advocates have trouble designing business plans that are cost-effective.

This is a technical constraint that can be fixed with sufficient political will. North Dakota solved it by backing the BND with the full faith and credit of the state. This makes sense, since the state owns the bank and has ultimate control over the use of its own deposits. The BND does not have or need FDIC insurance, which would cover only $250,000 of its billions in state deposits; and there is no fear of runs, because the state is required by law to keep its deposits in the bank, and in any case it would not run on itself. 

Not just the Bank of North Dakota but North Dakota’s local banks are very safe, aided by the BND with liquidity, capitalization, regulation, loan guarantees, and other banker’s bank services. No local North Dakota banks have been in trouble during this century, but if they were to suffer a bank run, the BND would be there to help.

The National Infrastructure Bank: A Complementary Solution

Another form of public bank that can rebuild productive capacity is a national infrastructure bank of the sort that powers China’s massive development. Infrastructure – in transportation, energy, water systems, broadband and public facilities – is a foundational driver of productivity. A National Infrastructure Bank (NIB) bill, HR 5356, is currently pending in Congress that would create a $5 trillion infrastructure bank capitalized with existing Treasury bonds. The mechanism is explained here. It would finance infrastructure at low cost without raising taxes. 

The NIB bill now has 55 sponsors in the House, but they are all from the Democratic side of the aisle. Perhaps the Warsh/Bessent push for increased productivity will inspire some Republicans to join. 

The Path Forward

If productivity is the cure for inflation, then the United States needs a financial system built to support productive investment. That requires community banks, but the current structure works against them. The Bank of North Dakota shows that a public bank can strengthen local lenders, expand credit, and anchor a resilient state economy. A National Infrastructure Bank can do the same at the federal level.

Public banks — local and national — are not alternatives to the private sector. They are the missing infrastructure that makes the private sector work.

_________________________

This article was first posted as an original to ScheerPost.com. Ellen Brown is an attorney, founder of the Public Banking Institute, and author of thirteen books including Web of Debt, The Public Bank Solution, and Banking on the People: Democratizing Money in the Digital Age. Her 400+ blog articles are posted at EllenBrown.com.

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  • Interviews/Speaking Engagements

    — 2026

    1201. Jan. 11, Sabby Sabs youtube podcast hosted by Sabrina Salvati, “The Truth About Banking,” with Earl Staelin

    — 2025

    1200. Aug. 24, interview with Randy Voller, “On the Porch” (radio)

    1199. Aug. 10, interview with Elisa Barwick, Australian Citizens Party, “Return the power of banking to the people.”  

    1198. July 31, 11 am est, speaker, Capital Institute Monthly Discovery Dialogues

    1197. May 29, 5 pm pst, speaker, National Infrastructure Bank Coalition webinar.

    1. Apr. 23, 1 pm EDT, Panel with Prof. Robert Hockett, “From Speculation to Sustainability: Reclaiming Finance for People and Planet.”
    1. Mar. 27, 5 pm pst: National Infrastructure Bank Will Stop a Recession Dead in Its Tracks! NIB Zoom, March 27, 2025 – YouTube
    1. Mar. 19, 7-8 pm pst, Washingtonians for Public Banking Virtual Town Hall.1193.
    1. Feb. 26, 5 pm pst, National Infrastructure Bank: Addressing the Federal Budget Crisis!
    1. Jan. 23, 5 pm pst: No to Austerity! Yes to the National Infrastructure Bank! NIB Zoom Town Hall, January 23, 2025

    — 2024 —

    1191. Dec. 10, 9 am EST, interview with Dave Krieger (former host of the Power Hour)

    1190. Nov. 21, 5 pm pst, 11-21 National Infrastructure Bank Coalition webinar.

    1189. Oct. 30, 1:30 pm EST, Bretton Woods 90th Anniversary Commemoration, “The Public Banking Mandate,” power point by zoom.

    1188. Aug. 15, 5 pm pst, National Infrastructure Bank Coalition webinar.

    1187. June 18, 5 pm pst, National Infrastructure Bank Coalition webinar presentation.

    1186. May 22, 6 pm pst, powerpoint for Washingtonians for Public Banking, “The Past, Present and Future of Public Banking”

    1185. Apr. 25, 5 pm pst, National Infrastructure Bank Coalition webinar presentation.

    1184. Mar. 21, 5 pm pst, National Infrastructure Bank Coalition webinar presentation.

    1183. Mar. 10, 4 pm PST, speaker, Voices for New Democracy online forum.

    1182. Feb. 29, National Infrastructure Bank Coalition webinar.

    1181. Feb.2-5, speaker, Restore Freedom Rally 2024, Freedom Law School, Orlando, FL. 10% discount code, EB10.

    1180. Jan 18, 5 pm pst, power point presentation, National Infrastructure Bank Coalition webinar.

    1179. Jan. 13, 5 pm EST, video interview with Firebreathin’ Bob.

    — 2023 —

    1178. 12-21-23, 1 pm, GlobalResearch News Hour, tribute to Stephen Lendman.

    1177. 12-14-23, 5 pm PST, webinar presentation, National Infrastructure Bank Coalition.

    1176. 10-22-23, 10:45 am, speaker, The Weston A. Price Foundation’s 23rd Annual Conference, Kansas City, Missouri.

    1175. 10-19-23, The Final Banking Solution, with Simon Thorpe and Colin Maxwell on The Vinny Eastwood Show, YouTube, Australia.

    1174. 8-22-23, 10 am, Claremont, CA, Cobb Institute Center for Process, power point presentation: “Restoring Prosperity with a Financial Transaction Tax and Publicly Owned Banks.“ Zoom link is here.

    1173. 6-15-23, NIB Zoom town hall, National Infrastructure Bank Coalition.

    1172. 5-22-23: Radio interview, 9:30 am est, The Power Hour.

    1171. 5-17-23: TV interview, CGTN America, Global Business: “Banking industry in hot seat during Congressional hearings.”

    1170. Apr 27, National Infrastructure Bank Coalition webinar, “How to Build the Nation: National Banking vs. Privatization”

    1169. Apr 23, interview on World Stage with Bruce De Torres, TNT Radio

    1168. 4-17-23, 9 am pst, interview with Prof. Richard Wolff, “Economic Update.”

    1167. 4-8 & 4-9, 9 am est, radio interview with Dr. Elaina George, “Medicine on Call.”

    1166. 4-8-23, noon pst, radio interview, Tom Quinn Show, ksco.com.

    1165. 4-6-23, radio interview with Phillip Farruggio, “It’s the Empire, Stupid.”

    1164. 4-4-23, 2 pm edt, NIB Zoom Roundtable, “National Banking in Times of Crisis.”

    1163. Mar. 24 & 25, United for Free Speech Webinar, Think Local, Ireland.

    1162. 3-23-23, 9 am EST, radio interview, The Power Hour.

    1161. 3-19-23, Interview with James Corbett, “Alternative Solutions to the Banking Crisis.”

    1160. 3-16-23, 5 pm pst, National Infrastructure Bank Coalition Town Hall, “Restructuring the American Workforce in a Time of Financial and Economic Turbulence.”

    1159. 3-14-23, 5 pm EST, Living In The Solution with Dr. Elaina George

    1158. 3-9-23, 8 am PST, Sarah Westall, podcast

    1157. 3-2-23, 11 am EST, The Gary Null Show, PRN.live.

    1156. 2-25-23, 15:00-17:00 GMT (Ireland), Think Local Conference 2023, Panel 3 – Money & Economics – New Paradigms

    1155. 2-16-23, 5 pm pst, National Infrastructure Bank Coalition, “Washington, Hamilton, Lincoln: National Banking and the Economic Demands of Today’s Crisis,” NIB Zoom Town Hall

    1154. 1-19-23, 5 pm pst, National Infrastructure Bank Coalition, “National Banking Will Drive a U.S. Economic Boom!” NIB Zoom Town Hall

    — 2022 —

    1153. 12-15-22: 5 pm pst, National Infrastructure Bank Town Hall presentation.

    1152. 11-17-22: NIB Zoom Town Hall, “The Next Steps: The American System and the National Infrastructure Bank.”

    1151. 10-19-22: NIB Zoom Town Hall, “Rebuild the Nation with a New Reconstruction Finance Corporation.”

    1150. 10-8-22: 18th Annual AMI Monetary Reform Conference, 2022 “The Monetary Scene: The Last Three Years,” power point presentation.

    1149. 9-8-22, 5 pm pst: NIB Zoom Town Hall, “US at the Crossroads: American Industrial Recovery or Fed Chair Powell’s Recession.”

    1148. 8-11-22, 5 pm, National Infrastructure Bank Coalition webinar.

    1147. 8-2-22, noon pst, interview by Rep. Pamela Powers Hannley, “Powers for the People” podcast (joining Prof. Bob Hockett).

    1146. 8-1-22, 5:50 to 6:10 pm pst, interview with Scott Harris, WPKN Radio in Bridgeport, CT, “Between the Lines.”

    1145. 7-22-22, 5 pm pst, National Infrastructure Bank Coalition webinar.

    1144. 7-8-22, 5 pm pst, Interview with Kevin Barrett, Truth Jihad Radio.

    1143. 6-30-22, 5 pm pst, National Infrastructure Bank Coalition webinar with Prof. Robert Hockett, Sen. Bob Hasegawa, et al.

    1142. 6-16-22: National Infrastructure Bank Coalition webinar on stagflation with Nomi Prins, Robert Hockett, et al.

    1141. 6-10-22: TNT radio interview with Sen. Malcolm Roberts, Australia.

    1140. 5-19-22: 5 pm pst, National Infrastructure Bank town hall presentation. https://www.nibcoalition.com/all-videos

    1139. 5-17-22: 11 am pst, interview, Kerry Lutz’s Financial Survival Network.

    1138. Apr. 22, 5 pm cst, interview, The Hrvoje Morić Show, TNT Radio

    1137. Apr. 22, 11 am est, Gary Null Show, PRN Live

    1136. Apr. 20, 7 pm cst, webinar, “Public Banking: Investing in Colorado!,” Colorado Public Banking Coalition

    1135. 4-19, 9 am pst, interview with Simone Mariam for the Italian blog MittDolcino

    1134. Apr. 19, 12:30 pm pst, interview with Jay Taylor, “A PetroRuble Now Competes with the PetroDollar”, Jay Taylor Media

    1133. Apr. 15, Interview with Kristina Borjesson, The Whistleblower Newsroom, bitchute, “History Informs a Reset That Could Serve the People”

    1132. Apr. 8, Interview with Kevin Barrett, Truth Jihad Radio, 5 pm pst

    1131. Apr. 6, Podcast with Bob Scheer, ScheerPost.com

    1130. Mar. 31, Power Point presentation on youtube, Universidad Nacional de Colombia, Invita: Debates Ensayos de Economia Coordina: Guillermo Maya — Profesor adscrito al Departamento de Economia

    1129. Mar. 10, Webinar presentation, “Stop Inflation in Its Tracks! Role of the National Infrastructure Bank”

    1128. Feb. 17, Webinar presentation for National Infrastructure Bank Coalition, Abraham Lincoln and the American System of Economics

    — 2021 —

    1127. Dec. 18, Daniel Estulin and Ellen Brown on Global Economic Implosion, Kevin Barrett Truth Jihad

    1126. Dec. 7, Interview with Daniel Estulin

    1125. Nov. 27, “The Greening of Finance and the Global PPP Land Grab” with Matt Ehret on youtube

    1124. Sep. 29, interview with Jan Roberts of Systems Change Advocate,  jroberts@ciaction.org> linkedin.com/in/jan-roberts-0001688  Systems Change Advocate 

    1123. Aug. 30, Center for Global Justice webinar with Walt McRee, “Public Banking: Democratizing Finance”

    1122. July 28, 5 pm pst, webinar, “Public Banks: A Path to Economic Transformation in California,” EcoCiv Dialogues for Global Systems Change series

    1121. July 22, 5 pm pst, webinar, “The Truth about America’s Monetary System,” American Ethical Union National Conference

    1120. Mar. 29, 2 pm est, panel hosted by Rickey Gard Diamond, “Zoom of Our Own, Creating Currency and Blowing Big Bubbles.”

    1119. Mar. 25, 11 am pst, BoldRethink webinar, TBA

    1118. Mar. 21, 10 am pst, Public Banking panel, TBA

    1117. March 5, Sean Stone interview, Unrig

    1116. March 2, PBI Live Town Hall, Ohio

    1115. Feb. 23, 7 pm est, Eco Justice Collaborative Webinar, “Why the Crises We Face Make Financial Reform Essential,” Religious Society of Friends, Philadelphia

    1114. Feb. 17, 11 am, Steff Overbeck, Pod of Gold radio interview

    1113. Feb. 18, radio interview, Phil Mikan, wlis1420

    1112. Feb. 16, National Infrastructure Bank Coalition Presidents’ Day Webinar 2021 – “National Infrastructure Bank: Standing on the Shoulders of Giants”

    1111. Feb. 6, radio interview, Sylvia Richardson, Latin Waves

    1110. Jan. 28, 6 pm est, PBI NY Town Hall

    1109. Jan. 27, “Ellen Brown and Matt Ehret Discuss: A Brief History of Economic Warfare and the American System”, youtube

    1108. Jan. 16, 11 am cst, Warner Lewis, Lewis at Large (Kansas City), KLWN, 101.7 FM

    1107. Jan. 15, 3-5 pm, Revolution Radio, The Fetzer Report

    1106. Jan. 8, 4 pm PST, zoom power point presentation, Praxis Peace Institute

    — 2020 —

    1105. Dec. 30, 3 pm EST, Eleanor LeCain radio show on PRN

    1104. Dec. 28, 9 pm EST, interview on WPKN Radio with Scott Harris, Between The Lines Radio 

    1103. Dec. 13, Ramola D. Reports, US/UK news panel #11, with Prof. Tim Canova, et al.

    1102. Dec. 12, podcast/radio interview,  Ralph Nader Radio Hour

    1101. Dec. 6, Ramola D. Reports, US/UK news panel #10, with Dr. Christiane Northrup et al.

    1100. Nov. 29, Ramola D. Reports, News Panel 9, with Justin Walker, Andy Kaufmann, John Reizer, Sandi Adams

    1099. Nov. 3, Turning Point Talks, Australia, Zoom power point presentation, 7 pm Australia time

    1098. Nov. 1, 4 pm pst, panel, 2020 Building the New World Conference

    1097. Oct. 26, Phil Mikan Show, WLIS/WMRD Radio, Conn., pre-recorded for Friday at 10 est or Saturday at 9-11 est

    1096. Oct. 22, 1:15 pm EST, power point presentation, “Public Banking, Modern Monetary Theory (MMT) and the National Debt,” Carolina Hills Community, Chapel Hill, NC

    1095. October 3, 1:30, “Energizing a Just Transition Conference.”

    1094. Sept. 30, webinar,2020 Building the New World Conference, 4 pm pst/7 pm est

    1093. Sept. 12, San Diego public banking group webinar with Sen. Ben Hueso, 5 pm

    1092. Sept. 9, interview with Meria Heller, 10 am pst

    1091. Aug. 30, interview with Jack Etkin, Citizens Forum,  Community Television, Victoria, BC, 2 pm pst

    1090. Aug. 17, The Power Hour, 10 am PDT.

    1089. July 30, 4 pm PST, John Truman Wolfe Financial Hour

    1088. July 15, 6 pm EST, Connecticut Public Banking Town Hall, livestream here

    1087. July 13, Webinar, Center for Global Justice, “Why Public Banking Needs to Be Run as a Public Utility,” San Miguel de Allende, Mexico, 11am-1pm PDT

    1086. Interview with Susan Johnson on public banking for Connecticut, WILI’s Let’s Talk About It Show, 5 pm EST

    1085. Interview on Russia Today, “In Question,”  “BlackRock the Behemoth,” July 2, 2020

    1084. July 1, Bonnie Faulkner interview with Peter Koenig on Guns and Butter

    1083, July 1, 8 am PST, interview with Phillip Farruggio, “It’s the Empire, Stupid,” Greanvillepost.com

    1082. June 29, 9-9:30 pm EST, interview with Scott Harris, “Between the Lines,” WPKN Radio, Conn.

    1081. June 24, 6-6:30 pm EST, interview with Paul DeRienzo, WBAI News, New York City

    1080. June 23, 6:30-8pm MST, Webinar on Forming a New Mexico State Public Bank, Alliance for Local Economic Prosperity

    1o79. June 10, podcast with Kim Iverson, “The Fed and the Big Bank Wealth Heist. Why We Need Public Banking.”

    1078. Interview with Sylvia Richardson, Latin Waves, 10 am PST

    1077. June 5, 6 pm pst, Center for American Studies Town Meeting, Concord, NH, live-streamed

    1076. June 5, 12:30 pm, Public Banking Town Hall for Colorado Leaders, Zoom conference

    1075. May 28, WECAN webinar, “Structuring an Economy for People and Planet in the Time of Climate Crisis and COVID-19,” 11:00 am PST/ 2:00pm EST

    1074. May 22, Interview with Kevin Barrett, Truth Jihad Radio, 5 pm PST

    1073. May 21, Interview with Aaron Wissner, Local Future, Youtube livestream

    1072. May 20, radio interview, “Law and Disorder,” New York City

    1071. May 13, interview with Paul Jay, “Does Public Banking Work?”, The Analysis

    1070. May 10, 12:00-1:00 PM EST, Dr. Elaina George radio show

    1069. May 7, 11 am EST, interview with Phillip Farruggio, “It’s the Empire, Stupid,” Greanvillepost.com

    1068. May 6, Conversations with Rob, community radio, 9 am PST

    1067. Apr 4, interview with Walt McRee and Mark Anielski, The Economics of Wellbeing podcast (pre-recorded, TBA)

    1066. May 2, podcast with Matt Stannard, Cowboys on the Commons

    1065. May 1, Interview with Robert Scheer, Scheer Intelligence, KCRW Los Angeles

    1064. April 30, 12 noon MDT, Public Banking Virtual Town Hall sponsored by Colorado Public Banking Coalition

    1063. April 30, 6-6:30 pm, interview with Paul DeRienzo, WBAI News, New York City

    1062. Apr 29, 1 pm PST, radio interview with Reinette Senum, KVRM, Nevada City, CA (pre-recorded)

    1061. Apr 26, Schiller Institute Online Conference, 3 pm EST

    1060. Apr 26, 6:30 am PST, Morano in the Morning radio talk show

    1059. Apr 21, Interview with Jason Hartman, Creating Wealth Show

    1058. April 13, “Flashpoints,” KPFA, 5:40 pm PST.

    1057. April 9, radio interview with Claudia Cragg, “It’s the Economy,” KGNU Boulder CO, 6 pm MST.

    1056. April 7, “Treasury Takeover?”, podcast interview with Sarah Westall and Harley Schlanger

    1055. March 26, interview with Phillip Farruggio, “It’s the Empire, Stupid,” Greanvillepost.com

    1054. Mar. 17, 7 pm EST, interview with Gary Null, Progressive Commentary Hour

    1053. Feb. 19, radio interview on George Noory’s “Coast to Coast,” 10-12 pm pst.

    1052. Feb. 8, interview with Sylvia Richardson, “Latin Waves” radio podcast.

    1051. Jan. 8, interview with Marcus Ruiz Evans, 1 pm PST

    1050. Jan. 2, interview with Kevin Barrett,  truthjihadradio, 5 pm PST

    — 2019 —

    1049. Dec. 2, Interview with Jeff J. Brown, China Rising Radio

    1048. Nov. 24, 7 pm, presentation sponsored by Agenda for a Prophetic Faith, Claremont Presbyterian Church, Claremont, CA, “Why We Need Public Banks”

    1047. Nov. 24, 11 am, public banking presentation for “Growing Christians” class, Claremont United Methodist Church, Claremont, CA

    1046. Nov. 23, public banking presentation, Pilgrim Place, Claremont, CA

    1045. Nov 16-17, speaker, Soil & Nutrition Conference, Southbridge, MA.

    1044. Nov. 12, interview in New York with Max Keiser, Keiser Report, “Repo Markets and UBI”

    1043. Nov. 6, 5 pm EST, The CivicLab Show with Tom Tresser, live@www.facebook.com/tomtree

    1042. Oct. 23, 11:30 am-1:30 pm, luncheon presentation on public banking, League of Women Voters of San Diego, Tom Ham’s Lighthouse Restaurant, 2150 Harbor Island Dr., San Diego

    1041. Oct. 22, Presentation on public banking, DSA San Diego, Unite Here Union Hall, 2436 Market Street, San Diego, 6-7:30 pm.

    1040. Oct 16-18, keynote speaker, Economics of Happiness conference, Jeonju, South Korea

    1039. Oct. 6, 6 pm pst, interview, Jeff Rense Radio.

    1038. Sept 30, noon EST, radio interview with Pauline Salotti, WUSB, Stony Brook, NY, 90.1 FM, wusb.fm.

    1037. Sept. 26, 7 pm presentation, “Exploding the Myths of Money and Banking,” New Paradigm College, Lake County, CA

    1036. Sept. 20, podcast interview, Silver Doctors

    1035. Sept. 19, 8-9 pm pst, interview, Jeff Rense Radio.

    1034. Interview, Sept. 13 at 5 pm–6 pm on KPFZ, Lake County community Radio, 88.1 FM.

    1033. Sept. 6, Live with Ernest Hancock, 11 am EST (at 2 hour mark on video)

    1032. Aug. 26, interview with Jason Hartman, Creating Wealth Show, 12:00 pm PST.

    1031. Aug. 9, interview with Lauren Steiner, youtube

    1030. July 25, youtube podcast with Sarah Westall, “This is Why China Is Winning”

    1029. July 23, interview with Steve Bhaerman, Wiki Politiki Radio Show, 2 pm pst.

    1028. July 19, interview with Kevin Barrett,  truthjihadradio, 5 pm PST

    1027. July 12, 11 am pst, interview with Annie Esposito and Steve Scalmanini, “Corporations & Democracy,” Mendocino County, CA, www.KZYX.org

    1026. Interview with Crystal Arnold, Money-Wise Women, posted July 10

    1025. July 9, interview with Liz Lane, “It’s the Economy,” KGNU Boulder/Denver/Ft. Collins, 6 pm MDT/8 pm EDT.

    1024. June 23, interview with Mark Anielski, “The Economics of Well-being”

    1023. June 15, interview with Tom Allen, “This Week in Money,” HoweStreet.com

    1022. June 13, Interview with Sinclair Noe, “Financial Review,” MoneyRadio1510.com (pre-recorded)

    1021. June 12, 2 pm, interview on Princeton Community TV, Princeton NJ, “The Public Banking Solution” with Walt McRee

    1020. June 1, interview with Sylvia Richardson, “Latin Waves” radio podcast.

    1019.  Apr. 5, interview with Phillip Watt, healbyhypnosis.com, 3 pm, PT

    1018.  April 3, panel discussion on Green New Deal, BBC World Service, “The Balance”

    1017.  March 28, interview on Thom Hartmann show.

    1016. March 22, interview with Sinclair Noe, Money Radio 1510 

    1015.  March 11, interview with Phillip Farruggio, greanvillepost.com, 11 a.m. EST

    1014.

    1013.  Feb. 9, interview with Sylvia Richardson, Latin Waves, 8 a.m. PT

    1012.  Feb. 8, interview with Kevin Barrett,  truthjihadradio, 6 pm, PST

    1011. Jan. 31, interview with Lee Camp, LeeCampComedySpecial.com

    1010.  Jan. 3, interview with Robert Stark, The Stark Truth with Robert Stark, re The Green New Deal  https://www.starktruthradio.com/?p=8534

    — 2018 —

    1009.  Dec. 17, interview with Scott Harris, WPKN radio, Bridgeport, CT, Between the Lines Radio Newsmagazine, 9:30 ET

    1008. Nov. 2, Interview with Mike Prysner on Real News Network, https://therealnews.com/stories/will-public-banking-free-la-from-wall-street

    1007. Oct. 31, interview on Real News Network, Student Debt Dogs Millenials for a Lifetime and Drags Down the Economy, https://therealnews.com/stories/student-debt-dogs-millennials-for-a-lifetime-and-drags-down-the-economy

    1006. Oct. 22, speaker with Gar Alperovitz at Praxis Peace Institute, “Changing the System: California’s Strategic Role in National Strategic Change,” Sonoma, CA, 276 E. Napa St, Sonoma. 7:00 pm.

    1005. Oct 19-21, Bioneers Conference, panelist on Oct 20, 2:45 pm, Marin Center, San Rafael, CA.997.

    1004. Oct. 18, 350Marin.org, speaking along with Susan Harman, 750 Lindaro Street, San Rafael CA, 6:30pm.

    1003. Oct. 17, video interview with Abby Martin, work in progress.

    1001.  Oct. 11, Interview with Harvey Wasserman, Greenpower and Wellness, prn.fm, KPFK Los Angeles, 2 pm

    1000.  Oct. 9, speaker, State Bank Forum, University of Washington, Kane Hall, 7-9pm http://sdc.wastateleg.org/hasegawa/state-bank/

    999. Oct. 7, panel, Americans for Democratic Action of Southern California Annual Garden Party, 2-5:30 pm, Santa Monica, CA

    998.  Oct. 4, 7:30 pm, Living Economy Salon, panelist, Public Bank LA: “Solutions for Social and Environmental Justice”, 3110 Main St., Annex Building C 2nd Floor, Santa Monica, CA 90405

    997. Oct. 3, interview on Unmediated, podcast of Reader Magazine, episode title: Making Money The Public’s Slave (The Public Banking Solution), 10 a.m.  PT

    996. Oct. 1, radio interview, “The Power Hour,” www.thepowerhour.com, 2 pm

    995. Sept. 28, interview with Sinclair Noe, Money Radio 1510, pre-recorded for a later date

    994.  Sept. 20-22, California Vision 2020 Conference, speaking at 11 am on Sept 20, Sheraton Grand Hotel , Sacramento.

    993.  Sept. 10, interview with Lila Garrett on KPFK, “Connect the Dots”, http://www.kpfk.org/on-air/connect-the-dots/  7. a.m. PT

    992. Sept. 4, interview with Steve Bhaerman, Wikipolitiki Radio, wikipolitiki.com, 2 pm PT

    991. Aug. 31, interview with Kevin Barrett, truthjihadradio. 6 pm PT

    990. Aug. 26, Left Coast Forum, 1:30 pm, Los Angeles Trade Tech

    989. Aug. 22, interview, the Gary Null Show, 9:40 PST

    988. Aug. 14, podcast interview with Sarah Westall, 9 am pst/11 am cst

    987. Aug. 8, interview with Tom Allen, “This Week in Money”, HoweStreet.com

    986.  Aug. 9, interview with Sinclair Noe, Money Radio 1510, pre-recorded for a later date

    985. Aug. 3, 9-10 pm pst, radio interview with True Ott

    984. Aug 2, New York Green Party video livestream,  5 pm PST

    983.  Aug. 1, interview with Elizabeth Dougherty, The Dougherty Report, Newsradio 102.5 WFLA, 3 pm PST

    982. July 21, guest on WakingupinAmerica.com, 6:45 a.m., PDT

    981.  June 28, interview on MONEY RADIO with Sinclair Noe, 11:00 a.m., PST

    980. May 16, “It’s Our Money,” PRN.FM, 3 pm est

    979. May 16, interview with Michael Welch, Global Research, 11 am pst

    978. May 4, First Unitarian Church, Portland, power point presentation, “How Public Banking Would Benefit Portland and Oregon”, 7-9 pm

    977.  April 17, Retirement Lifestyle Advocates radio program, 1 pm PT

    976.  April 13, interview, the Gary Null Show, 9:35 a.m., PT. Subject: The Bayer-Monsanto Merger Is Bad News for the Planet.

    975. April 12 “Mind Over Matters,” KEXP, Seattle, 9 am PT 

    974. April 5, interview with Deb Hobson, KOPN 89.5  Democracy Now! Chautauqua, 4 pm PT

    973. Mar. 10-12, PBI retreat, Loveland, CO

    972.  Mar. 22 interview with Sinclair Noe, The Financial Review, Money Radio 510, 1:30 pm PST

    971.  Mar. 19, Coast to Coast AM radio, 10pm-midnight, PST

    970.  Feb. 28, interview with Ian Trottier, Miami Radio, http://iantrottier.com/, 5:15 pm EST.  Listen here, bit.ly/EllenBrownCA

    969. Jan. 23. 18th National Conference and Global Forum: The Science Business, and Education of Sustainable Infrastructure, Washington DC, panel

    968.  Jan. 20, Interview with Primo Nutmeg https://soundcloud.com/primonutmeg

    967.  Jan. 17, It’s Our Money, 3 pm est–listen here.

    966.  Jan. 17, interview with Valerie Kirkgaard, http://www.wakingupinamerica.com, 2 pm PST

    965.  Jan. 2, Interview withJeff Rense, rense.com, 9 pm PST

    — 2017 and before, see —

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