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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]

“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]

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]

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]

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]

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]

The Mockery of Banking Discipline

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

Currently Mistaken Ideas in Western Economics and Their Suggested Corrections (preferably soon) Part 1

Economist George Tait Edwards straightens out some of the economic myths taught at Western universities (Part 1 of 2) ... [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]

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]

An Economic Policy For A Post Neo-Liberal World (Part 2 of 3)

Former Labour MP and member of the Shadow Cabinet, Bryan Gould, provides a road map for reviving Britain's ailing economy... [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]

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 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]

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]

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 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]

The Alternative 2013 Spending Review, Or What Mr Osborne Could Have Said If He Understood Macro-economics

The Spending Review by George Osborne contained no surprises. But suppose Mr Osborne really understood economics and actually wanted to improve the British economy. George Tait Edwards provides a constructive speech for a competent chancellor... [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]

Unprecedented!

Michael Roberts on why the present economic crisis demonstrates the vulnerability of "free market" capitalism. ... [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]

BCE / LTRO: what’s that ?

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

An Anti-Austerity 2015 UK Budget

George Tait Edwards explains how Shimomuran-Wernerian macroeconomics is the best available path to prosperity once the politicians of the West understand the effectiveness of that option... [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]

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]

Economic Policies for an Incoming Labour Government (Part 8 of 9)

The Community Interest Bank Key to Local SME Development... [read more]

Economic Policies for an Incoming Labour Government (Part 6 of 9)

The No-Cost Keynesian Stimulation of Demand in the Economy ... [read more]

Economic Policies for an Incoming Labour Government (Part 5 of 9)

The Two Great Traditions in Western Economic Thinking ... [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 Shimomuran Economics Solution to the Western Economic Crisis

George Tait Edwards explains how investment credit creation could resurrect Western economies... [read more]

The Failure of Innovation in the Anglo-Saxon Economies

George Tait Edwards examines the role of innovation in economic development... [read more]

Ensuring Scottish sovereignty

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

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]

The American Dream Is Alive and Well—in China

Home ownership has been called “the quintessential American dream.” Yet today less than 65% of American homes are owner occupied, and more than 50% of the equity in those homes is owned by the banks.... [read more]

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. The banks were then paying more than 5% interest on deposits, enough to double young Michael’s investment every 14 years.... [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]

Central Banks Have Gone Rogue, Putting Us All At Risk

Central bankers are now aggressively playing the stock market. To say they are buying up the planet may be an exaggeration, but they could. They can create money at will, and they have declared their independence from government. They have become rogue players in a game of their own.... [read more]

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.... [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]

“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]

Ukraine, the price of survival: from civilian aircraft to attack drones

The Ukrainian aviation conglomerate Antonov was more than an industry; it was a legend... [read more]

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... [read more]

The G20 Leaders Communique′

Mark Horner critically reviews four major themes of the G20 Leaders Communique... [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]

Comparison of the Washington, Berlin, and Tokyo Consensus Zones -Which one really works?

George Tait Edwards compares three separate economic systems presently operating around the world... [read more]

Rethinking Economics The Washington Consensus vs the Tokyo Consensus Background

On Tuesday 6 May 2014, I published a blog about ”Shimomuran Economics and the Rise of Japan”... [read more]

Why Not Create A Scottish Pound and Adopt Investment Credit Economics to Scotland’s Benefit?

On 21 February I sent an email to the Government of Scotland, suggesting it would be an immense advantage to the “Yes” campaign for Scottish independence if the Scots adopted a policy of having their own currency when independent... [read more]

The Many Major Uses of Investment Credit Creation: A brief walk through the observed results so far, and the future possibilities made available through Shimomuran Economics

Money is the measure of all things and personal wealth sets the boundaries of what the individual and his or her family can afford... [read more]

Russell Brand and the Nixon inequality shock

Russell Brand's call for revolution reverberated with many beyond the underclass he referenced... [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]

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]

Nations Get what their Financial-Industrial Systems Deliver: A Comparative Analysis of Three Different Groups of Financial-Industrial Systems

George Tait Edwards compares three different financial-industrial systems and considers the merits of each model... [read more]

If markets weren't masters and economics worked for people

The choice on the one hand is for people to be a resource for a rich economy. The choice on the other is for a rich economy to be a resource for society. Alfie Stirling explains... [read more]

Euro zone crisis: A Green alternative

We are watching economic injustice crush a nation before our eyes. On 20 March, Greece must meet the next tranche of debt repayments,says Alfie Stirling.... [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]

Green Shoots of Economic Recovery?

Mick Brooks considers recent claims that the world economic system is on the mend.... [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]

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]

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]