On “It’s Our Money”: Rozanne Junker on the Bank of North Dakota, Parts 1 & 2

The Bank of North Dakota started a century ago with the simple goal of service to citizen victims of the Wall Street monopoly. It now inspires the hopes of citizens nationwide, as they struggle to wrest their financial freedom from the same financial masters. Ellen talks with Dr. Rozanne Enerson Junker, who got her doctorate studying how this upstart institution took on the big banks and turned a challenged economy into a financial powerhouse of service to its owners, the people of North Dakota. Rozanne is featured in a documentary called “The Bank of North Dakota,” linked below. Walt McRee then talks with Tom Tresser about a new collaborative book called “Chicago is Not Broke – Funding the City We Deserve” — there’s more money laying around than most citizens know. And Matt Stannard discusses What Wall Street Costs America with a focus on Detroit and Harrison, NJ – yet more victims of the global banking cartels that keep America under the thumb of debt servitude. Listen to the archive here.

In Part II of Rozanne’s interview, played on June 8th’s show, we continue our conversation about the founding factors and functional dimensions of America’s only state-owned public bank.  Ellen also discusses block-chain technology with co-host Walt McRee, while this week’s What Wall Street Costs America examines the impact of predatory banking costs on the city of Detroit —  Matt Stannard talks with Tom Stevens of “Detroiters Resisting Emergency Management.” Archived here.

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Pursuing Populist Politics – Tim Canova and Pamela Powers Hannley on “It’s Our Money”

Almost 100 years ago, populist politics marched across America in reaction to the same sort of monetary monopoly that is depriving this century’s citizens of their hard-earned assets and wealth. That deprivation has mobilized an angry, fed-up backlash of folks willing to support any candidate who will talk straight and promise real change. Several candidates are rising to the challenge. Ellen talks with Tim Canova, a law professor and Fed expert facing off against Congressional Democratic insider Debbie Wasserman-Schultz in South Florida; out West, a State House Representative candidate Pamela Powers-Hannley runs on a platform calling for a public bank to stave off the deteriorating state economy and using inspiration from 100-years ago; and Matt Stannard talks with the award-winning author David Dayen whose new book Chain of Title reveals how a few plucky citizens pushed back against the Goliath of Wall Street mortgage fraud. Archived here.

“Print the Money”: Trump’s “Reckless” Proposal Echoes Franklin and Lincoln

“Print the money” has been called crazy talk, but it may be the only sane solution to a $19 trillion federal debt that has doubled in the last 10 years. The solution of Abraham Lincoln and the American colonists can still work today.

“Reckless,” “alarming,” “disastrous,” “swashbuckling,” “playing with fire,” “crazy talk,” “lost in a forest of nonsense”: these are a few of the labels applied by media commentators to Donald Trump’s latest proposal for dealing with the federal debt. On Monday, May 9th, the presumptive Republican presidential candidate said on CNN, “You print the money.” Continue reading

Bank of North Dakota Soars Despite Oil Bust: A Blueprint for California?

Despite North Dakota’s collapsing oil market, its state-owned bank continues to report record profits. This article looks at what California, with fifty times North Dakota’s population, could do following that state’s lead.

In November 2014, the Wall Street Journal reported that the Bank of North Dakota (BND), the nation’s only state-owned depository bank, was more profitable even than J.P. Morgan Chase and Goldman Sachs. The author attributed this remarkable performance to the state’s oil boom; but the boom has now become an oil bust, yet the BND’s profits continue to climb. Its 2015 Annual Report, published on April 20th, boasted its most profitable year ever. Continue reading

On “It’s Our Money”: Prof. John McMurtry Discusses “The Cancer Stage of Capitalism” and Why the Establishment Hates Trump

Ellen’s noted guest Dr. John McMurtry describes capitalism as being in a cancerous stage in which it’s being devoured from within by metastasizing greed and self-interest. He also talks about why the establishment hates Donald Trump. Matt Stannard looks at how the banking cancer has affected Jefferson County, AL, which declared bankruptcy after buying into toxic interest rates swaps from Wall Street salesmen. The antidote: public banks! Show archived here.

Les Leopold on “It’s Our Money”

les leopoldYou’ve Been Strip Mined! That’s how Ellen’s guest Les Leopold describes what has happened to the constructive role of capital, such as investment in research and development, expansion and improvement of services and industries. He calls it “economic strip-mining” in which capital speculators like hedge funds strip the equity of companies, countries and consumers to feed their insatiable desire for short term profits – outcomes be damned. We also introduce the new national project and campaign called “What Wall Street Costs America” – the start of a national conversation revealing the massive extraction of public dollars by Wall Street interests. And Matt Stannard reviews presidential politics and bank reform on the Public Banking Report. Archived here.

Next up: Prof. John McMurtry on the Trump phenomenon and the Cancer Stage of Capitalism.

The War on Savings: The Panama Papers, Bail-Ins, and the Push to Go Cashless

Exposing tax dodgers is a worthy endeavor, but the “limited hangout” of the Panama Papers may have less noble ends, dovetailing with the War on Cash and the imminent threat of massive bail-ins of depositor funds.

The bombshell publication of the “Panama Papers,” leaked from a Panama law firm specializing in shell companies, has triggered both outrage and skepticism. In an April 3 article titled “Corporate Media Gatekeepers Protect Western 1% From Panama Leak,” UK blogger Craig Murray writes that the whistleblower no doubt had good intentions; but he made the mistake of leaking his 11.5 million documents to the corporate-controlled Western media, which released only those few documents incriminating opponents of Western financial interests. Continue reading

This week on “It’s Our Money”: Stephen Lendman and Going Cashless

lendmanKiss your cash goodbye! The word is that things would be more convenient, crooks would be confounded and diseases might be thwarted if we’d just get rid of filthy currency as the most essential form of personal financial liquidity. Currently circulating in the corridors of world financial powers, it may appear as an enlightened technical step forward to eliminate cash, but is it also a stalking horse for yet another way global bank interests can separate you from your assets? Ellen speaks with renowned author and media figure Stephen Lendman about why this idea is appearing now and what’s happening behind the scenes that’s moving it forward. Also behind the scenes is a huge and stark reality about municipal debt to Wall Street that the Public Banking Institute is targeting in its new project called What Wall Street Costs America. Co-host Walt McRee speaks with PBI’s Matt Stannard on this groundbreaking campaign. Listen here.

Exposing the Libyan Agenda: A Closer Look at Hillary’s Emails

Critics have long questioned why violent intervention was necessary in Libya. Hillary Clinton’s recently published emails confirm that it was less about protecting the people from a dictator than about money, banking, and preventing African economic sovereignty.

The brief visit of then-Secretary of State Hillary Clinton to Libya in October 2011 was referred to by the media as a “victory lap.” “We came, we saw, he died!” she crowed in a CBS video interview on hearing of the capture and brutal murder of Libyan leader Muammar el-Qaddafi.

But the victory lap, write Scott Shane and Jo Becker in the New York Times, was premature. Libya was relegated to the back burner by the State Department, “as the country dissolved into chaos, leading to a civil war that would destabilize the region, fueling the refugee crisis in Europe and allowing the Islamic State to establish a Libyan haven that the United States is now desperately trying to contain.” Continue reading

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 the German Sparkassen group. (English begins at 12’35”.)

Iceland is a beautiful country with charming people. They face daunting challenges but have been bold in standing up to the banks, and the spirit is there for a true revolution in banking.

Ellen

 

William Engdahl, Kevin Zeese on It’s Our Money

william engdahlEllen speaks with noted historian, economic researcher and journalist William Engdahl about his new book The Lost Hegemon and some backstory facts that belie popular news story narratives. We also revisit another powerful narrative deception in the form of the Trans Pacific Partnership, with anti-TPP activist Kevin Zeese.  Listen to the archive here.

Interviewed on Max Keiser, Feb. 2016

 

 

 

The Populist Revolution: Bernie and Beyond

The world is undergoing a populist revival. From the revolt against austerity led by the Syriza Party in Greece and the Podemos Party in Spain, to Jeremy Corbyn’s surprise victory as Labour leader in the UK, to Donald Trump’s ascendancy in the Republican polls, to Bernie Sanders’ surprisingly strong challenge to Hillary Clinton – contenders with their fingers on the popular pulse are surging ahead of their establishment rivals.

Today’s populist revolt mimics an earlier one that reached its peak in the US in the 1890s. Then it was all about challenging Wall Street, reclaiming the government’s power to create money, curing rampant deflation with US Notes (Greenbacks) or silver coins (then considered the money of the people), nationalizing the banks, and establishing a central bank that actually responded to the will of the people. Continue reading

Charles Eisenstein on “It’s Our Money”

eisensteinEllen joins her daughter Jamie Brown in interviewing Charles Eisenstein, a highly popular visionary re-thinker of the nature and future of economics. The author of “Sacred Economics,” Eisenstein shares insights into some of the core flaws in our economic thinking and helps us to see that we have the power and the responsibility to choose the priorities of the system we want. Co-host Walt McRee also speaks with Santa Fe public banking leader Nichoe Lichen of Banking on New Mexico, which saw the release this past week of a highly positive  feasibility study supporting the creation of a new Santa Fe public bank. Listen here.

The Citadel Is Breached: Congress Taps the Fed for Infrastructure Funding

In a landmark infrastructure bill passed in December, Congress finally penetrated the Fed’s “independence” by tapping its reserves and bank dividends for infrastructure funding.

The bill was a start. But some experts, including Congressional candidate Tim Canova, say Congress should go further and authorize funds to be issued for infrastructure directly.

For at least a decade, think tanks, commissions and other stakeholders have fought to get Congress to address the staggering backlog of maintenance, upkeep and improvements required to bring the nation’s infrastructure into the 21st century. Countries with less in the way of assets have overtaken the US in innovation and efficiency, while our dysfunctional Congress has battled endlessly over the fiscal cliff, tax reform, entitlement reform, and deficit reduction. Continue reading

“Bail-ins Begin”: Interviews with Greg Hunter and Thom Hartmann

My Dec. 29th article “Bail-ins Begin” prompted two video interviews, with Greg Hunter on USAWatchdog.com, and Thom Hartmann, below.

 

 

Les Leopold on “It’s Our Money”

les leopoldEllen speaks with noted author and co-Founder of the Labor Institute, Les Leopold, about how the market mechanics of inequality have succeeded over the past 40 years and what we can do collectively to bring about real change. She also discusses her latest article about the looming crisis that could be triggered by the new practice of bailing-in depositor money to save failing banks. And Matt Stannard delivers some words about money from the mouths of historical figures. Listen to the archive here.

 

A Crisis Worse than ISIS? Bail-Ins Begin

While the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US.  Poverty also kills.

At the end of November, an Italian pensioner hanged himself after his entire €100,000 savings were confiscated in a bank “rescue” scheme. He left a suicide note blaming the bank, where he had been a customer for 50 years and had invested in bank-issued bonds. But he might better have blamed the EU and the G20’s Financial Stability Board, which have imposed an “Orderly Resolution” regime that keeps insolvent banks afloat by confiscating the savings of investors and depositors. Some 130,000 shareholders and junior bond holders suffered losses in the “rescue.” Continue reading

Reinventing Banking: From Russia to Iceland to Ecuador

Global developments in finance and geopolitics are prompting a rethinking of the structure of banking and of the nature of money itself. Among other interesting news items:

  • In Russia, vulnerability to Western sanctions has led to proposals for a banking system that is not only independent of the West but is based on different design principles.
  • In Iceland, the booms and busts culminating in the banking crisis of 2008-09 have prompted lawmakers to consider a plan to remove the power to create money from private banks.
  • In Ireland, Iceland and the UK, a recession-induced shortage of local credit has prompted proposals for a system of public interest banks on the model of the Sparkassen of Germany.
  • In Ecuador, the central bank is responding to a shortage of US dollars (the official Ecuadorian currency) by issuing digital dollars through accounts to which everyone has access, effectively making it a bank of the people.

Continue reading

How to eliminate income taxes and the federal debt: Scott Smith on “It’s Our Money”

scott smithAmong other items of interest on “It’s Our Money” this week, Ellen interviews Independent presidential candidate Scott Smith, who has a clever plan for eliminating austerity, income taxes and the federal debt without creating inflation.  Archived here.