Talk - Ellen Brown - Public Banks and Why We Need Them

Ellen Brown author of "The Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free" talking about the public banking system and the Bank of North Dakota October 26, 2011 at Kan Hall, University of Washington, Seattle, WA.

See Part II of this event at http://www.youtube.com/watch?v=IT7Bo3D3JzU

Category:

News & Politics

Tags:

• Money
• Debt
• Bank
• Banks
• Banking
• System
• Monetary
• Fed
• Federal
• Reserve
• Seattle
• Washington
• North
• Dakota
• BND
• Brown

[WilhelmDrake]

@MrIzzyDizzy

The Fed can't shrink the money supply. Most of the money supply is bank credit.

[goodnaturearts]

this is a long talk. Good story, but you can get to the gist at 27" Someone needs to make this into a whiteboard video.

[cscoxk]

It all makes sense and it will work.

An important message is that when money is created we should not have an interest coupon attached at the time of creation. Once it has been spent and then saved it can have interest because the interest is really rent on the savings. This also means there should be no interest on the interest because interest itself is not a saving - it is a deferral of expenditure - which is operationally different from a saving.

[MacksPower75]

@XxmattitudexX "loans for consumption are bad."That's not necessarily true.If loans are made for consumption,in other words demand side loans,that money buys a good such as,for example, an iphone, that money gets used as a capital base to make the next generation of iphone and hire workers to create it. The iphone workers buy things from the original borrowers who borrowed for consumptive items and then they repay the loan, if everything is working right.Demand side economics would work better.

[serd3fied]

ALL Students with Loans should see this!!

[serd3fied]

If you are concerned about the size of the national debt... if you think Obama has spent too much money and is ruining our economy... if you have no clue how money works... if I've begged you to read the book but you haven't taken the time to do it.... here is the author of Web of Debt and in a little over a half hour you will understand more about our banking system than you've learned in a lifetime and suddenly see the solution to our problems.

[ahamatmabrahman]

Theres a good video on YT called - courts afraid of us now and the lawful bank - The 2nd half of the video describes a fractional reserve banking system for , of and by the people , a way if creating liquidity rather than dept The lawful bank is also international, having said this other similar banks are now forming Thank you for sharing this talk with us Ellen and talkingsticky

[XxmattitudexX]

the banks dont make the money, the people who agree to take the loan make it .

IE they agree to do work or create new value that is Equal to the money created in the loan.

value is created when someone borrows money from a bank buys lumber and tools (capitol) and then creates furniture.

this offsets the money they agreed to create in the loan with more value in the system... this is why it is very important to only make loans for capitol and value creation. loans for consumption are bad .

[MrIzzyDizzy]

the fed shrunk the money supply so defaults would occur so they could buy up the so called toxic assets - because property is real and money is a farce - yeah then they bailed out thier rich buddies but if you not one of them your not getting anything - they could care less if anyone else succeeds or even lives what eberyone might cosider a great idea they think of a being pussy communist liberal heresy - watch money masters ' 96 - my god are you just now aware of corruption?

[morelshaman]

It seems like there is a solution for a vibrant economy that is not based on exponential thievery of outside interests. Why do we not hear about this?