A non-partisan journal of the left.

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Arise the heroes of the people

Hussein Al-Alak considers what makes a hero of the people by examining the remarkable achievements of three working class individuals.... [read more]

How America Can Free Itself From Wall Street

Wall Street owns the country. That was the opening line of a fiery speech that populist leader Mary Ellen Lease delivered around 1890. Franklin Roosevelt said it again in a letter to Colonel House in 1933, and Sen. Dick Durbin was still saying it in 2009. ... [read more]

Cannabis -Marijuana: The “War on Weed” Is Winding Down – But Will Monsanto/Bayer Be the Winner?

The war on cannabis that began in the 1930s seems to be coming to an end... [read more]

Health and Humanity: Conclusion

A healthy human, with a foundation of biopsychosocial health, could hope to find their purpose in life... [read more]

Ensuring Scottish sovereignty

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

The circulating money supply: Why QE3 won’t jumpstart the Economy—and What Would

The economy could use a good dose of “aggregate demand”—new spending money in the pockets of consumers — but QE3 won’t do it. Neither will it trigger the dreaded hyperinflation. In fact, it won’t do much at all. There are better alternatives, argues Ellen Brown.... [read more]

The Key to a Sustainable Economy Is 5,000 Years Old

We are again reaching the point in the business cycle known as “peak debt,” when debts have compounded to the point that their cumulative total cannot be paid... [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]

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]

The War on Weed Part II: Monsanto, Bayer, and the Push for Corporate Cannabis

California’s “Adult Use of Marijuana Act” (AUMA) is a voter initiative characterized as legalizing marijuana use... [read more]

Self, Celebrity, Debt And Sport

"Whenever you find yourself on the side of the majority it is time to pause and reflect" Mark Twain... [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]

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

Before 2011, Libya had achieved economic independence, with its own water, its own food, its own oil, its own money, and its own state-owned ban... [read more]

Health and Humanity

I would humbly suggest to the readership that we should, instead, start 2016 off with some ‘navel gazing... [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]

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]

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]

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]

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]

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]

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]

The Fed Protects Gamblers at the Expense of the Economy

Although the repo market is little known to most people, it is a $1-trillion-a-day credit machine, in which not just banks but hedge funds and other “shadow banks” borrow to finance their trades... [read more]

The Key to Solving the Climate Crisis Is Beneath Our Feet

The Green New Deal resolution that was introduced into the U.S. House of Representatives in February hit a wall in the Senate, where it was called unrealistic and unaffordable... [read more]

Paul Volcker’s Long Shadow

Former Federal Reserve Chairman Alan Greenspan called Paul Volcker “the most effective chairman in the history of the Federal Reserve.... [read more]

Is the Run on the Dollar Due to Panic or Greed?

What’s going on in the repo market? Rates on repurchase (“repo”) agreements should be about 2%, in line with the Federal Reserve funds rate... [read more]

The Disaster of Negative Interest Rates

The dollar strengthened against the euro in August, merely in anticipation of the European Central Bank slashing its key interest rate further into negative territory.... [read more]

Central Bankers' Desperate Grab for Power

Central bankers are out of ammunition. Mark Carney, the soon-to-be-retiring head of the Bank of England, admitted as much in a speech at the annual meeting of central bankers... [read more]

Neoliberalism Has Met Its Match in China

When the Federal Reserve cut interest rates last week, commentators were asking why. According to official data, the economy was rebounding... [read more]

The Cheapest Way to Save the Planet Grows Like a Weed

Planting billions of trees across the world is by far the cheapest and most efficient way to tackle the climate crisis. So states a Guardian article, citing a new analysis published in the journal Science.... [read more]

How to Pay for It All: An Option the Candidates Missed

The Democratic Party has clearly swung to the progressive left, with candidates in the first round of presidential debates coming up with one program after another to help the poor, the disadvantaged and the struggling middle class... [read more]

The Bankers’ “Power Revolution”: How the Government Got Shackled by Debt

The U.S. federal debt has more than doubled since the 2008 financial crisis, shooting up from $9.4 trillion in mid-2008 to over $22 trillion in April 2019... [read more]

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.... [read more]

The Secret to Funding a Green New Deal

As alarm bells sound over the advancing destruction of the environment, a variety of Green New Deal proposals have appeared in the U.S. and Europe... [read more]

The Fed's Dramatic About-Face

“Quantitative easing” was supposed to be an emergency measure, but the Federal Reserve is now taking a surprising new approach toward the policy.... [read more]

The Venezuela Myth Keeping Us From Transforming Our Economy

Modern Monetary Theory (MMT) is getting significant media attention these days, after Rep. Alexandria Ocasio-Cortez said in an interview that it should “be a larger part of our conversation” when it comes to funding the “Green New Deal.... [read more]

The Financial Secret Behind Germany’s Green Energy Revolution

Funding through the Federal Reserve may be controversial, but establishing a national public infrastructure and development bank should be a no-brainer.... [read more]

Trump Takes on the Fed

The president has criticized Federal Reserve policy for undermining his attempts to build the economy. The best way to make the central bank serve the needs of the economy is to make it a public utility.... [read more]

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.... [read more]

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.... [read more]

Fox in the Hen House: Why Interest Rates Are Rising

The Fed is aggressively raising interest rates, although inflation is contained, private debt is already at 150% of GDP, and rising variable rates could push borrowers into insolvency. So what is driving the Fed’s push to “tighten”?... [read more]

The Bayer-Monsanto Merger Is Bad News for the Planet

Bayer and Monsanto have a long history of collusion to poison the ecosystem for profit. The Trump administration should veto their merger not just to protect competitors but to ensure human and planetary survival.... [read more]

The War on the Post Office

The US Postal Service, under attack from a manufactured crisis designed to force its privatization, needs a new source of funding to survive. Postal banking could fill that need.... [read more]

How Uncle Sam Launders Marijuana Money

In a blatant example of “do as I say, not as I do,” the US government is profiting handsomely by accepting marijuana cash in the payment of taxes while imposing huge penalties on banks for accepting it as deposits.... [read more]

Student Debt Slavery II: Time to Level the Playing Field

The lending business is heavily stacked against student borrowers. Bigger players can borrow for almost nothing, and if their investments don’t work out, they can put their corporate shells through bankruptcy and walk away.... [read more]

How to Wipe Out Puerto Rico's Debt Without Hurting Bondholders

During his visit to hurricane-stricken Puerto Rico, President Donald Trump shocked the bond market when he told Geraldo Rivera of Fox News that he was going to wipe out the island’s bond debt.... [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]

“Ryancare” Dead on Arrival: Can We Please Now Try Single Payer?

The new American Health Care Act has been unveiled, and critics are calling it more flawed even than the Obamacare it was meant to replace... [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]

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]

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]

Can Jill Carry Bernie’s Baton?

Bernie Sanders supporters are flocking to Jill Stein, the presumptive Green Party presidential candidate... [read more]

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

The right of government to issue its own money was one of the principles for which the American Revolution was fought... [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]

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]

Building the Fight against Austerity

It has been a depressing few weeks for the supporters of the Labour Party’s new leader Jeremy Corbyn... [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]

Quantitative Easing for People: The UK Labour Frontrunner's Controversial Proposal

British MP Jeremy Corbyn has proposed a “People’s QE” that has critics crying hyperinflation and supporters saying it’s about time... [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]

“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]

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]

Derailing Amtrak

Tracking the Latest Disaster in the Infrastructure Crisis... [read more]

California Water Wars: Another Form of Asset Stripping?

In California’s epic drought, wars over water rights continue, while innovative alternatives for increasing the available water supply go untapped... [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]

EU Showdown: Greece Takes on the Vampire Squid

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken... [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]

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]

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]

The Crime of Alleviating Poverty: A Local Community Currency Battles the Central Bank of Kenya

Ellen Brown reports on how former Peace Corps volunteer Will Ruddick and several residents of Bangladesh, Kenya, face a potential seven years in prison after developing a cost-effective way to alleviate poverty in Africa’s poorest slums... [read more]

Money for the People: Grillo's Populist Plan for Italy

Comedian Beppe Grillo was surprised himself when his Five Star Movement got 8.7 million votes in the Italian general election of February 24-25th... [read more]

The head cover

The three women Nobel Peace Prize winners of 2011, wore head Covers. Does that mean that the ‘West’ is acknowledging freedom of identity of people from the third world? asks Iqbal Tamimi.... [read more]

No2VAG's request falls on deaf ears

No2VAG has a legitimate right to be heard by the NLWA, as Ellen Graubart explains. The campaign group has requested a hearing at the Authority's meetings, and three times the group has been refused.... [read more]

Telling the Players with a Scorecard

How politics is manifested as economics and economics as politics should concern us right now, argues Steven Colatrella.... [read more]