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
Filed under: Ellen Brown Articles/Commentary, video | Tagged: bail-in, cashless society, negative interest, Panama Papers | 28 Comments »
Kiss 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. 
bout negative interest and the war on cash, then talks with renowned futurist Hazel Henderson about how far afield economics has gone from its practical obligations to serve the public interest. Matt Stannard rounds out this week’s program on “It’s Our Money,” archived 
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Why Is the Fed Paying So Much Interest to Banks?
When Mary Poppins was made into a movie in 1964, Mr. Banks’ advice to his son was sound. Banks were then paying more than 5% interest on deposits, enough to double young Michael’s investment every 14 years.
Now, however, the average savings account pays only 0.10% annually – that’s 1/10th of 1% – and many of the country’s biggest banks pay less than that. If you were to put $5,000 in a regular Bank of America savings account (paying 0.01%) today, in a year you would have collected only 50 cents in interest.
That’s true for most of us, but banks themselves are earning 2.4% on their deposits at the Federal Reserve. Continue reading →
Filed under: Ellen Brown Articles/Commentary | Tagged: Federal Reserve, interest on deposits, IOER, negative interest, postal banking, public banking | 9 Comments »