The Public Banking Revolution Is Upon Us

As public banking gains momentum across the country, policymakers in California and Washington state are vying to form the nation’s second state-owned bank, following in the footsteps of the highly successful Bank of North Dakota, founded in 1919. The race is close, with state bank bills now passing their first round of hearings in both […]

Monetary Policy Takes Center Stage: MMT, QE or Public Banks?

As alarm bells sound over the advancing destruction of the environment, a variety of Green New Deal proposals have appeared in the US and Europe, along with some interesting academic debates about how to fund them. Monetary policy, normally relegated to obscure academic tomes and bureaucratic meetings behind closed doors, has suddenly taken center stage. […]

“Taking Back our Power with Public Banks,” California Vision 2020 Conference 22-minute video, Sacramento 9-20-18

A Public Bank for Los Angeles? City Council Puts It to the Voters

California legislators exploring the public bank option may be breaking not just from Wall Street but from the Federal Reserve. Voters in Los Angeles will be the first in the country to weigh in on a public banking mandate, after the City Council agreed on June 29th to put a measure on the November ballot […]

Blackstone, BlackRock or a Public Bank? Putting California’s Funds to Work

California has over $700 billion parked in private banks earning minimal interest, private equity funds that contributed to the affordable housing crisis, or shadow banks of the sort that caused the banking collapse of 2008. These funds, or some of them, could be transferred to an infrastructure bank that generated credit for the state – […]

The Public Bank Option – Safer, Local and Half the Cost

Phil Murphy, a former banker with a double-digit lead in New Jersey’s race for governor, has made a state-owned bank a centerpiece of his platform. If he wins on November 7, the nation’s second state-owned bank in a century could follow.    A UK study published on October 27, 2017 reported that the majority of […]

Regulation Is Killing Community Banks – Public Banks Can Revive Them

Crushing regulations are driving small banks to sell out to the megabanks, a consolidation process that appears to be intentional. Publicly-owned banks can help avoid that trend and keep credit flowing in local economies. At his confirmation hearing in January 2017, Treasury Secretary Stephen Mnuchin said, “regulation is killing community banks.” If the process is […]

California Public Bank People’s Forum, L.A., sponsored by the Bernie Sanders Brigade

The cavalry has arrived! Great to see so many young people getting behind public banking. We had a rousing forum on Saturday, May 13th, at the Puente Learning Center in Los Angeles. The links to the Facebook live videos and photo album are here: Part 2: https://www.facebook.com/BernieSandersBrigade/videos/1737555312927578/ Part 3: https://www.facebook.com/BernieSandersBrigade/videos/1737601809589595/ Part 4: https://www.facebook.com/BernieSandersBrigade/videos/1737631266253316/ https://www.facebook.com/pg/BernieSandersBrigade/photos/?tab=album&album_id=1739237269426049 The Bernie Sanders Brigade also made […]

WHAT ARE PUBLIC BANKS AND HOW DO THEY OPERATE? AN INTRODUCTION

Ellen Brown for the Deep Dive Berlin Conference, September 2015 To introduce the concept of public banking, here are some excerpts from my book The Public Bank Solution (2013) and several articles. From the Introduction to The Public Bank Solution We have entered a millennium that is pregnant with possibility. New discoveries in agricultural production, […]

Two Recent Power Points on Public Banking, in Englewood, CO, and Santa Rosa, CA

Here are my latest efforts at presenting the public banking model by power point. The longer version was at an event in Englewood, CO, on October 30, called “Taking Back the Money Power: The Public Option in Banking.” The shorter version was at an event in Santa Rosa, CA, on November 9 called “Cannabis Cash […]

Panel, June 18th, Long Beach, CA – “Big Banks and Their Changing Impact on Business and the Safety of Our Money: Is Public Banking an Alternative?”

California Democratic Party Business and Professional Caucus, Saturday at 6:30 June 18th, at the Long Beach Hyatt Regency Hotel, 200 S. Pine Ave, Long Beach. Moderator – Ray Bishop, Chair, Business & Professional Caucus, County Small Business Commission, City Commission Industrial Development Authority, Business Owner. Ellen Brown – Attorney and Founder of the National Public Banking […]

Public banking in Europe: Possibilities for Iceland

I’m currently in Switzerland, after presentations on public banking in Reykjavik, Iceland; London, UK; Manchester, UK;  and Cardiff,  Wales. Very interesting and productive trip! A February 13th seminar on public banking was sponsored by the Dawn Party in Reykjavik. Below is a youtube video of my power point followed by one by Wolfram Morales of […]

Why Public Banks Outperform Private Banks: Unfair Competition or a Better Mousetrap?

Public banks in North Dakota, Germany and Switzerland have been shown to outperform their private counterparts. Under the TPP and TTIP, however, publicly-owned banks on both sides of the oceans might wind up getting sued for unfair competition because they have advantages not available to private banks. In November 2014, the Wall Street Journal reported that […]

Upcoming Event: Banking on Colorado: Bring Our Money Home — A Public Banking Conference — Denver, CO, January 31, 2015

Public Banking Conf Flyer

“Public Banks for Public Works,” Philadelphia symposium power point

The Pennsylvania Project hosted the East Coast edition of the Public Banking Institute national conference in Philadelphia last Saturday. Thanks Pennsylvania team! I thought I would post my power point presentation (the sixth I’ve done since July), since it has a more complete discussion of the pressing issue always on the minds of elected officials: […]

The Public Bank Solution

WHAT WALL STREET DOESN’T WANT YOU TO KNOW Shock waves from one Wall Street scandal after another have completely disillusioned us with our banking system; yet we cannot do without banks. Nearly all money today is simply bank credit. Economies run on it, and it is created when banks make loans. The main flaw in […]

Santa Fe Public Banking Conference on video; upcoming events

The Santa Fe Public Banking Conference last weekend was a great success.  The videotaped event can be seen here. Our guest on “It’s Our Money” on PRN next Wednesday, October 8th, will be Richard Wolff, the keynote speaker in Santa Fe.  Listen at noon PST/3 pm EST or on archive here. The Praxis Peace Economics of […]

Public bank advocates gather: Seek to boost local banks over Wall Street

I’ll be speaking at the Philadelphia and Santa Fe conferences described in the press release below, as well as at the Economics of Sustainability conference in San Francisco Oct 6-9 and the Kilkenomics Festival in Kilkenny, Ireland, November 6-9.  Should be fun!  Ellen Update: The Main Session of the Santa Fe event on September 27th will be […]

A Public Bank Option for Scotland

Scottish voters will go to the polls on September 18th to decide whether Scotland should become an independent country. As video blogger Ian R. Crane colorfully puts the issues and possibilities: [T]he People of Scotland have an opportunity to extricate themselves from the socio-psychopathic global corporatists and the temple of outrageous and excessive abject materialism. […]

Are Public Banks Unconstitutional? No. Are Private Banks? Maybe.

The movement to break away from Wall Street and form publicly-owned banks continues to gain momentum. But enthusiasts are deterred by claims that a state-owned bank would violate constitutional prohibitions against “lending the credit of the state.” California’s constitution is typical. It states in Section 17: “The State shall not in any manner loan its […]