A non-partisan journal of the left.

Search London Progressive Journal

  • Enter text and click Search. This search does not accept exact strings with " or '. For exact searching click 'Exact Search'.
  • or

What a State-Owned Bank Can Do for New Jersey

Having a cheap and ready credit line with the state’s own bank can have similar benefits for New Jersey and other states... [read more]

The Leveraged Buyout of America

In a letter to Federal Reserve Chairman Ben Bernanke, US Representative Alan Grayson and three co-signers expressed concern about the expansion of large banks into what have traditionally been non-financial commercial spheres... [read more]

Funding California Schools: Proposition 51 Versus a State-owned Bank

There is a much cheaper way to fund this $9 billion school debt... [read more]

It Can Happen Here: The Bank Confiscation Scheme for US and UK Depositors

Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets reveals Ellen Brown... [read more]

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... [read more]

What is to be Done with the Banks? Radical Proposals for Radical Changes

Immediate measures for moving towards socialisation of the banking sector... [read more]

A journey into the vice-ridden world of banking

The primary objective of the world’s leaders is to avoid another banking and financial crash that could be worse than the one in September 2008... [read more]

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... [read more]

Dear Mr. President, Be Careful What You Wish for: Higher Interest Rates Will Kill the Recovery

Higher interest rates will triple the interest on the federal debt to $830 billion annually by 2026, will hurt workers and young voters, and could bankrupt over 20% of US corporations, according to the IMF.... [read more]

“Guerrilla Warfare” Against the EU-ECB-IMF Economic Hegemony: The Challenge and Promise of Greece. The Nationalization of the Banking System

Greece could restore the liquidity desperately needed by its banks and economy by nationalizing the banks and issuing digital loans backed by government guarantees... [read more]

Central Bank Digital Currencies: A Revolution in Banking?

Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies... [read more]

The Mockery of Banking Discipline

Part 7 of Eric Toussaint series, Banks versus the People: the Underside of a Rigged Game... [read more]

Killing Off Community Banks: Intended Consequence of Dodd-Frank?

The Dodd-Frank regulations are so lethal to community banks that some say the intent was to force them to sell out to the megabanks... [read more]

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... [read more]

Would Scottish Independence Mean Economic Sovereignty?

Scottish voters will go to the polls on September 18th to decide whether Scotland should become an independent country... [read more]

The End of Money

It’s Time to End Our Slavery to the Money-System declares Oliver Thompson ... [read more]

Ensuring Scottish sovereignty

Ellen Brown discusses options for economic development in a future independent Scotland... [read more]

How to Fund a Universal Basic Income Without Increasing Taxes or Inflation

A team of researchers at the University of Oxford published the results of a survey of the world’s best artificial intelligence experts, who predicted that there was a 50 percent chance of AI outperforming humans in all tasks within 45 years... [read more]

Saving Illinois: Getting More Bang for the State’s Bucks

Illinois is teetering on bankruptcy and other states are not far behind, largely due to unfunded pension liabilities; but there are solutions.... [read more]

If China Can Fund infrastructure with Its Own Credit, So Can We

While American politicians debate endlessly over how to finance the needed fixes and which ones to implement, the Chinese have managed to fund massive infrastructure projects all across their country, including 12,000 miles of high-speed rail built just in the last decade... [read more]

The Italian Banking Crisis: No Free Lunch—or Is There?

It has been called “a bigger risk than Brexit”– the Italian banking crisis that could take down the eurozone... [read more]

“We’ll Look at Everything:” More Thoughts on Trump’s $1 Trillion Infrastructure Plan

The Trump agenda, it seems, is not set in stone. The president-elect has a range of advisors with as many ideas... [read more]

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... [read more]

Hang On to Your Wallet: Negative Interest, the War on Cash and the $10 Trillion Bail-In

In uncertain times, “cash is king,” but central bankers are systematically moving to eliminate that option. Is it really about stimulating the economy? Or is there some deeper, darker threat afoot?... [read more]

The Greek Coup: Liquidity as a Weapon of Coercion

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... [read more]

Fast-track Hands the Money Monopoly to Private Banks — Permanently

In March 2014, the Bank of England let the cat out of the bag... [read more]

Economic Policies for an Incoming Labour Government (Part 7 of 9)

The Re-Establishment of British Banks Along Four Main Functional Lines... [read more]

The ECB’s Noose Around Greece

Remember when Goldman Sachs delivered a thinly-veiled threat to the Greek Parliament, warning them to elect a pro-austerity prime minister or risk having central bank liquidity cut off to their banks?... [read more]

Warren’s Post Office Proposal: Palast Aims at the Wrong Target

Investigative reporter Greg Palast is usually pretty good at peering behind the rhetoric and seeing what is really going on. But in tearing into Senator Elizabeth Warren’s support of postal financial services, he has done a serious disservice to the underdogs... [read more]

Banks versus the People: The Underside of a Rigged Game! (Part 1)

Eric Toussaint looks at 2007-2012: Six years that shook the banking world... [read more]

International Banking – A System Ruled by Stupidity and Fraud

Reflecting on the fraud allegations against Goldman Sachs, Mick Brooks argues that only full nationalisation can provide proper accountability for the banking system.... [read more]

Why We Must Nationalise Northern Rock

Examining the ongoing crisis of the Northern Rock bank, Chris Vasey argues nationalisation is the only way to safeguard public money and jobs.... [read more]

Changing the Face of Bolivia

Jeremy Corbyn examines the dilemmas facing the progressive government of Evo Morales in Bolivia.... [read more]

Free the Unborn! A Proposal for Slowing Down Politics

George Monbiot on why the struggle against climate change is being undermined by political short-termism.... [read more]

Financial Meltdown Deepens

In the wake of the collapse of Lehman Brothers, Michael Roberts examines the present financial slump. ... [read more]

Ecuador Seizes Banking Firms

Samuele Mazzolini on the bold steps taken by Ecuador's President Correa as he bids to bring financial stability and security to the country.... [read more]

Why Donald Trump Is Right To Look East

The investment potential of the Russian economy offers good reasons why it is time for the West to take a more positive attitude towards the country. The President-elect might be doing everyone a favour in the long run, David Morgan argues.... [read more]

Trump’s $1 Trillion Infrastructure Plan: Lincoln Had a Bolder Solution

Central banks have been pumping money into the global economy without a whole lot to show for it... [read more]

Iraq Outrage: Chilcot Inquiry Publication Delayed: “ to avoid embarrassing Tony Blair.”

"Nothing justifies killing of innocent people." (Tony Blair, CNN, 15th January 2015)... [read more]

The Populist Revolution: Bernie and Beyond

The world is undergoing a populist revival. From the revolt against austerity led by Syriza to Jeremy Corbyn’s surprise victory as Labour leader... [read more]

The big private banks run on LTRO

Part 6 of the series 'Too Big to Fail' by Eric Toussaint... [read more]

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... [read more]

BCE / LTRO: what’s that ?

Part 5 of the series 'Too Big to Fail' by Eric Toussaint... [read more]

Palestine

Just to think of Palestine is evocative. From the lush orange orchards to the laden olive groves... [read more]

How Obama Could Beat the Debt Ceiling and Go Out a Hero

The debt ceiling is an unconstitutional gimmick that violates the 14th amendment... [read more]

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... [read more]

Trumping the Federal Debt Without Playing the Default Card

The government can reduce the debt by buying it – and ripping it up... [read more]

Greece: Alternatives to the Capitulation

On 5 July 2015 the Greek people overwhelmingly rejected the austerity measures imposed by the institutions that were known as the Troika... [read more]

Reflections on China’s South Sea Trouble Thomas Riggins

Lying in the South China Sea between Indochina and the Philippines is a collection of 700 or so small islands collectively known as the Spratly Islands... [read more]

Now for the Rise of the Republic of The North!

It’s not only the Scots who are disillusioned with Westminster politics. The 2015 election once again doomed the north to five more years under a leadership it hasn’t voted for... [read more]

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

In November 2014, the Wall Street Journal reported that the Bank of North Dakota (BND), the nation’s only state-owned bank, is more profitable than Goldman Sachs Group... [read more]

Over Bottled

Everybody knows what the Israeli elections are about. The choice is stark: on the one side, the dream of a Greater Israel "from the sea to the river"; on the other side, an end to the occupation and peace... [read more]

Gaza: Middle East “Peace Envoy” Tony Blair Parties as Gaza Burns

The Fourth Geneva Convention is specific in prohibiting attacks on civilian hospitals, medical transport and of course designates collective punishment a war crime... [read more]

Iraq: US and Israel Plan Destruction of the Nation State

The Yinon plan is an Israeli strategic plan to ensure Israeli regional superiority. It insists and stipulates that Israel must reconfigure its geo-political environment through the balkanization of the surrounding Arab states into smaller and weaker states... [read more]

The Impossibility of Growth

It's the great taboo of our age – and the inability to discuss the pursuit of perpetual growth will prove humanity's undoing, writes George Monbiot.... [read more]

So, after the IPCC report, which bit of the world are you prepared to lose?

George Monbiot asks: When people say we should adjust to climate change, do they understand what that actually means?... [read more]

Banks bluff in a completely legal way

Part 8 of Eric Toussaint's series Banks Versus The People: The Underside Of A Rigged Game!... [read more]

From Austerity to Prosperity: Why I Am Running for California Treasurer

Welfare payments, health care for the poor, and benefits for the elderly and disabled have been slashed. State workers have been downsized... [read more]

A tale of gold, guns, greed and rat poison in the Brazilian jungle

The miners of northern Brazil live by the laws of power, honour, money and lust. But sometimes, karma asserts itself too, writes George Monbiot.... [read more]

The Banks, Fragile Giants

Part 5 of Eric Toussaint's series Banks versus the People: the Underside of a Rigged Game shows that big banks continue playing with fire, because they are persuaded that governments will save them whenever necessary... [read more]

The Bank Guarantee That Bankrupted Ireland

The Irish have a long history of being tyrannized, exploited, and oppressed—from the forced conversion to Christianity in the Dark Ages, to slave trading of the natives in the 15th and 16th centuries, to the mid-nineteenth century “potato famine” that was really a holocaust... [read more]

Martial Law and the Economy: Is Homeland Security Preparing for the Next Wall Street Collapse?

Reports are that the Department of Homeland Security (DHS) is engaged in a massive, covert military buildup, writes Ellen Brown... [read more]

Making the World Safe for Banksters: Syria in the Cross-hairs

In an August 2013, journalist Greg Palast posted evidence of a secret late-1990s plan devised by Wall Street ans US Treasury officials to open banking to the lucrative derivatives business... [read more]

Banks versus the People: The Underside of a Rigged Game! (Part 2)

The European Central Bank and the Federal Reserve are at the service of the major private banks... [read more]

Shimomuran Economics: The No-Debt Investment Credit Creation Path to More Rapid Economic Growth

George Tait Edwards MBE makes the case for the urgent implementation of Keynesian economics to stimulate growth, based on the economic model's previous success in the US, China and Japan... [read more]

Bulgaria elections: Widespread abuse but hope

I set off to Bulgaria after being selected by the Party of European Socialists to be part of the 100 plus team from all across the European Union to monitor the General Election. David Eade reports.... [read more]

The internet- Plutocracy's Achilles' Heel?

Ironically Capitialism's well founded fear of unfettered public access to matters of vital importance stems from the advent of the internet, writes Jim Handley... [read more]

CIA and MI5 linked to assassinations in the Congo in sixties

Shortly after progressive Congolese leader Patrice Lumumba was overthrown by a Western backed coup in 1960, the former UN secretary general, Dag Hammarskjöld, died in mysterious circumstances. John Green asks if the two events were in any way connected.... [read more]

End of Recession is Imminent Says Venezuela’s Planning Minister

Venezuela's Planning and Finance Minister has announced a positive forecast for the country's economy, as James Suggett reports.... [read more]

Venezuela Reiterates Commitment to Multipolar World Following Israeli Accusations

Israeli intelligence is using the relationship between Iran and leftist leaders in Latin America to stoke up fears in relation to Iran's nuclear ambitions, says Tamara Pearson.... [read more]

Banks in Crisis? Take them Over

With politicians and financial experts grasping at straws in their efforts to resolve the worst economic crisis in decades, Mick Brooks outlines the case for the nationalisation of the banking system.... [read more]

Gordon Brown and "Light Touch" Regulation

Mick Brooks on how Gordon’s policies left the UK unprepared for the present financial crisis.... [read more]

£50bn Bail-out Will Not Stop the Rot

Socialist Appeal's Mick Brooks on the UK government's financial bail-out package.... [read more]

The Credit Cruch - One Year On

Twelve months on from the beginning of the current economic crisis, Socialist Appeal's Michael Roberts examines the causes and effects of the so-called "Credit Crunch".... [read more]

Shadow Networks: Violence, War and Plunder in the Great Lakes Region of Africa

Colonial rivalry and capitalist exploitation are at the heart of the violence in the Congo.... [read more]

We're Still Too Fixated On Oil

Labour MP Michael Meacher on the ongoing obsession with oil.... [read more]