Public Banking In 2015: Superior To Wall Street ‘Casinos.’

Posted on January 2, 2015

by Jerry Alatalo

FedAlphabet After the United States House of Representatives and Senate allowed Citigroup-written provisions in the Cromnibus national spending bill to pass into law, Senator Elizabeth Warren “enjoyed” nationwide fame for her forceful opposition to the language which repealed Dodd-Frank rules on derivatives specifically created to protect American taxpayers.

Besides asking how and why America’s elected representatives would agree to a measure in direct opposition to the overwhelming majority of citizens’ demand of never again bailing out too-big-to-fail banks, another question which comes up is “what other private sector companies have secured ‘help’ from taxpayers when their businesses fail?” Perhaps men or women reading this run their own businesses. Even without the ability to take gigantic derivatives risks – or engage in massive financial frauds, certainly people who “play by the rules” when managing their companies have no taxpayer bailouts lined up for them when any combination of conditions greatly harms their firms.

And with the five largest banks holding $280 trillion in derivatives (bets), the “Citigroup Provision” could lead to world record-type “helping” from Americans to Wall Street gamblers. There could be no clearer example of how the United States financial system – along with those of nations in the G20 group who’ve agreed to similar “bail-in” plans – is correctly perceived as “rigged”. Most Americans want to see the Supreme Court decision on Citizens United overturned through a constitutional amendment, surely a worthy cause if ever there were one – removing money out of politics and elections, never again allowing billionaires to literally “buy” lawmaking power in campaigns all across America.

If – when – Americans become successful in the 50 states to overturn Citizens United, besides a constitutional amendment taking money out of political campaigns another amendment could read “Taxpayer money shall not under any condition become appropriated and/or transferred to any privately owned corporation or entity”.  When the inevitable Constitutional Convention comes close to reality, the number of legitimate corrections which have become necessary over the decades will be found significant and the topics of a great many, long overdue debates.

Public banking expert Ellen Brown talks to James Corbett about new G20 rules, where Cyprus-style “bail-ins” could hit ordinary depositors and pensioners very hard. Ms. Brown has spent years talking to people around America and the world about the advantages of creating public banks like the state-owned Bank of North Dakota, the most obvious advantage with respect to “rigged” protection for Wall Street high rollers in the multi-trillion dollar derivatives market being providing a safe, gambling-less place for government, pension, and private depositor money.

Ellen Brown responds to those who think public banks are not feasible or possible to set up that any government institution from city, county to state could start a public bank in a couple of months time. The interest and movement toward public banking is growing and, according to Ms. Brown: “it’s only a matter of political will”. So, will Americans settle for privately owned bank corporations, whose charters demand profit maximization, to continue running all things financial in the 50 states?

Or will Americans in every state take strong actions which embrace self-determination and sovereignty, with the supreme goal of returning the power to control the nation’s monetary affairs to the people, in the form of a public central bank to replace the Federal Reserve created in 1913?


To get involved, please visit

(Thank you to GlobalResearchTV at YouTube)


Pssst! Ellen Brown Told A Big Secret.


Posted April 27, 2014

by Jerry Alatalo

“Gold and riches, the chief causes of war. We are corrupted by prosperity. There will be vices as long as there are men.”

– Cornelius Tacitus (55-117 A.D.) Roman historian

Founder and president of The Public Banking Institute Ellen Brown is one of the group of men and women on Earth whose chances of appearing on mainstream American television are very, very poor. That’s because she’s no darn good at keeping the biggest Wall Street secrets – you know, the secrets of the “Big Club” that comedian George Carlin talked about toward the end of his life that “we ain’t in.”

Ms. Brown has spilled a lot of beans in her years of researching and writing about monetary reform and public banking’s obvious advantages for citizens, however the size of the bean cans seem to become bigger and more ominous as time goes on. Her revelatory writings and talks about Wall Street financial corporations’ “products of mass profit-making deception” recently make Bernie Madoff’s Ponzi scheme fraud look like Little Johnny stealing a 1-cent Bazooka bubble gum from the low racks at the checkout counter.

For Ellen Brown is telling the world about world record-breaking financial fraud.

Apparently, those families who have made their business banking through the decades have done their homework when it comes to coming up with ingeniously deceptive ways to separate the people from their money, and those deceptive means are devised by the world’s highest paid accountants and attorneys. These are the same highest-priced accountants and attorneys who – after the money becomes transferred from the people to the major stockholders of financial corporations – engineer those ill-gotten profits to disappear in offshore tax havens, out of the line of sight of “pesky” government taxing bodies.

The thought came to mind that Ms. Brown’s next book after “The Public Banking Solution” would perhaps catch some more publicity if the title were “SCAM” or “BIG SCAM” or “Really, Really, Really – REALLY BIG SCAM”, sort of like the title of her friend Professor Bill Black’s book “The Best Way to Rob a Bank is to Own One.” What seems apparent is that financial engineers have created in interest rate swaps is a sure-fire, impossible to lose, rigged bet with public governmental bodies, universities, pension funds, etc., all 100% guaranteed to succeed for the banksters through pre-arranged manipulation of interest rates like Libor and – Ms. Brown’s strongest allegation of financial fraud to date – Federal Reserve top management’s “enabling” through the power they hold to set their interest rates.

Simply, the world’s sixteen largest mega-banks have colluded to rig the LIBOR interest rates to correspond with emerging on the winning side of interest rate swap contracts entered into with city, county, state financial sectors, pension funds, and any other customers small to very large who can become trapped into the scam, with built-in very expensive penalties and fees to renegotiate any contract, designed to result in multi-billions of dollars essentially going from customer pockets to bank owners’ pockets.

Wall Street bank owners face an unavoidable “tsunami of blowback”

Public banking, due to recent years’ economic downturn and widespread research into Wall Street/Federal Reserve/private central banking truths, has become a topic of discussion in more American households and workplaces, as well as the homes and offices of nations around the world. Ellen Brown’s most recent disclosures on fraudulent actions by the world’s largest banking corporations will only fuel more intensity into those discussions, leading to a long-overdue push-back from the many victims of those frauds.

Because most people on Earth have no issue with fair dealing and an honest handshake in business transactions, but become very, very upset when the man or woman who smiles while looking you directly in the eye after signing the deal has been identified as crooked. This – as they say –  “ain’t gonna fly.”

Most people share the habit of reading comments on the internet, where men and women help round out the issues covered in articles and interviews. They’re like book or movie reviews from people concerned enough about the content to express their either constructive criticism or agreement. Here are a few of the comments from viewers of Ellen Brown’s interview by Greg Hunter:

“Good interview. I do not understand interest rate swaps per se. But I can see that they are a fraud, a scam by the banks to take money from the people via colleges and hospitals. Very sad indeed. There are no morals within the bankers’ souls.”

“I think you have to be a criminal to be able to understand interest rate swaps or quantitative easing or derivatives…”

“Ellen has a great idea there, this will cause an avalanche of claims and bring to mainstream attention.”

“Greg, well done yet again. Ellen Brown is an incredibly well-informed lady.”

“The government won’t prosecute because they want a cut of the action. Bank fines are nothing more than a mafia-style shakedown. Pay the fine and we will look the other way. Shame, shame.”

“Wake up. Stand up. Speak up. None of this corruption would be taking place if we weren’t allowing it. I’ve said it before… sociopaths.”

“This Ellen Brown lady has balls!!! More than most men. Please listen to what she has to say!”

“So how does this, the greatest crime in the history of the human race, end? I can’t imagine these criminals are going to get out alive.”

“Those who run the Fed are the same individuals who have produced the most destruction and bloodshed around the world. They are directly responsible for initiating and funding many, many wars for hundreds of years. It’s as though they hold a special book of matches, which ignites the fire that becomes the war. They fully believe the people will be too busy killing one another to notice who is the true enemy. These criminals won’t only get out alive, they will have us protect them with our own lives.”

“Exactly, who goes after the moneychangers after they’ve indirectly created war and famine? It’s likely not just the Fed driving these forces, but the major stockholders in the international banks and military contractors. This likely includes the Vatican, royal families around the world, various sovereign funds, the Rockefellers, and probably a number of old-money families around the world we hardly hear of. These people could all put a stop to it all if they really wanted to, instead they are complicit.”

“I liked this one a lot. She was articulate and rational.”

“Great show Greg. Ellen Brown is about the best in grassroots analysis of bankster reality.”

“…and it’s all legal…”

“Thanks, Greg, great interview. Not sure the courts are going to help. Keep up the good work. People I know are starting to wake up and ask questions.”

“SIFMA – Securities Industry and Financial Markets Association. News I can use.”

“Could have put $100,000 in the hands of each American. Mortgages would have been paid and the banks would have ended up with the money anyway, but the economy would have been free of one hell of a lotta debt. Need to start thinking trickle up, not down.”

“I come to depend on your honest news this (these) days Greg, so thanks again. You don’t compromise on your integrity and you report on your censer (sincere) beliefs. Cheap (keep) up the excellent work Mr. Hunter, we ned (need) brave and honest people like you.”

“If the people who run those banks engage in activities that put the entire economy at risk, wouldn’t they be considered enemies of the state? Isn’t this a form of economic terrorism or sabotage?”

“Nice interview Greg. You nailed it. Rant on.”


(Thank you to Greg Hunter at YouTube)

Public Banking: What Every American Needs To Know.

Posted January 19, 2014

by Jerry Alatalo

ripple33“The real menace of our republic is this invisible government which like a giant octopus sprawls its slimy length over city, state, and nation. Like the octopus of real life, it operates under cover of a self-created system… At the head of this octopus are the Rockefeller Standard Oil interests and a small group of banking houses generally referred to as international bankers. The little coterie of powerful international bankers virtually runs the United States government for their own selfish purposes. They practically control both political parties, write political platforms, make catspaws of party leaders, use the leading men of private organizations and resort to every device to place in nomination for high public office only such candidates as will be amenable to the dictates of corrupt big business. These international bankers and Rockefeller Standard Oil control the majority of newspapers and magazines in this country. They use the columns of these papers to club into submission or drive out of public office officials who refuse to do the bidding of the powerful corrupt clique which comprise the invisible government.”

– New York City Mayor John F. Hylan (1868-1936)

Readers of the blog are aware of my respect for the years of research and writings of Ellen Brown. Ms. Brown is the founder and president of The Public Banking Institute (, an organization advocating for establishment of public banks in all 50 states in America, and eventually a United States Public Bank to replace the privately owned Federal Reserve System. Public banking based on the success of the Bank of North Dakota’s model, has become more well-known as a real option for economic development as knowledge flows freely over the world-wide-web.

Ellen Brown has spoken to audiences in person and on radio and television for years, patiently explaining how the money system works, and how and why public banks will become an improvement over the present finance systems in counties, states, and the federal government. Her patience is beginning to pay off as public banking initiatives have begun in over 20 states in America, and people are actively looking for real alternative monetary reform to ease present dismal economic conditions.

She lives in California, where recently the state government passed a bill to study establishment of a California state-owned bank, unfortunately blocked through a veto by the governor. In the last few weeks Ellen Brown has announced she will be running for California Treasurer on the Green Party ticket, and feels there is a good chance of being victorious. In my opinion, when the men and women voters of California get an understanding of Ellen Brown’s state-owned public banking model, they will vote for her simply because it represents a superior model.

Education and understanding of public banking very important

Due to Americans’ very limited understanding of monetary systems, what we may call “money science”, Ellen Brown has spoken directly to the importance of American citizens becoming knowledgeable on the subject, and for discussion/debate to become a more common occurrence. Let me say that, when you listen to the following lecture from Ellen Brown to mostly university students, you will notice nervous laughter from members of the audience. Let me explain why I believe recognition of the reasons for this nervous laughter is very important.

The reason for audience members’ nervous laughter is because they have no other way to react to the new, quite shocking, and revelatory information that Ms. Brown is exposing them to. In a sense, there are men and women in the audience who are losing their innocence with regard to the real world of money science, with long-held views and myths surrounding the banking industry being utterly shattered. Ellen Brown is bringing to them truly mind-boggling information which has never been in the awareness of most people, and there is a natural attempt by them to relieve through laughter the stress of learning explosive truths.

Let me say that, no offense to Ellen Brown, I wished early on in her lecture, after the first laughs came from audience members, she would have taken a moment to explain that what she was doing was no laughing matter. However, some people do not have the type of personality which results in anger for misunderstandings, and she is one of these types – easy-going, calm, and patient. I’m sure she has run into a range of responses from men and women who she introduces to public banking, and has come to realize that this is going to happen, so then goes on with her teaching.

Let me reiterate that laughter from the audience in this lecture should be seen for what it represents: the profound lack of awareness of, and the great importance of Americans’ becoming aware of, money science and the public banking solution – especially now in 2014 with the great economic problems and challenges the nations face. Public banking has the same great potential for not only America, but for every nation on Earth with a privately owned central bank. Because of the current relevance of this subject now around the world, men and women would do well to visit and, Ellen Brown’s websites, to start learning about this most important issue.

I have listened to Ellen Brown’s talks on many occasions, whether in banking conferences, lectures to college students, or on numerous radio interviews. She has spent a great deal of time and effort to bring out the truth surrounding monetary issues, including writing eleven books, the latest being “The Public Banking Solution”. If you live in California I hope that you do whatever you can to help her win her race for state treasurer. To Californians, let me just say simply that you will not regret for one second having Ms. Brown as your state’s treasurer. You will be grateful.

For Americans living in the remaining 49 states, you would do well to learn as much as you can from Ms. Brown, as soon as possible. Please visit her websites. You will then enroll in what could be called “Economics One Trillion and One”.

Ellen Brown is a woman whose goal is financial freedom for the American people.


(Thanks to freespeechtv @ YouTube)

Detroit Bankruptcy Starts Nationwide Public Banking Debate.

Detroit skyline as seen from Windsor, Ontario
Detroit skyline as seen from Windsor, Ontario (Photo credit: Wikipedia)

Posted December 13, 2013

by Jerry Alatalo

By now most Americans are aware of the City of Detroit‘s being judged “eligible” for bankruptcy. There are a number of factors which played a part resulting in this current state of affairs. Most would acknowledge that de-industrialization, where corporations have closed down manufacturing plants and moved those operations to nations where drastically less expensive labor was available – to do the work previously done by Americans – began, decades ago, the downward spiral of harmful economic conditions for governments at all levels.

Many have asserted that Detroit’s financial condition has also been the result of other factors, such as years of mismanagement, an unfortunate assessment given the conditions in Detroit which have been out of the control of the city’s elected representatives. Detroit is known as the “Motor City” and in years past enjoyed a booming economy and thousands of good jobs in the automotive sector. Unfortunately for Americans, with Detroit’s people being especially hard hit, the beginning of outsourcing of jobs was a continuing trend which closed plants across the nation.

Outsourcing affected not only those in the automobile sector, but corporations in virtually every industry moved jobs out of the USA to lower labor cost, absence of regulations nations – resulting in lower standards of living for millions of Americans and their families. So, millions of jobs were off-shored to foreign nations, with the added downward pressure on wages from the remaining corporations who, caught up in the vicious cycle of outsourcing to remain competitive on labor costs, would get wage concessions from Americans who risked loss of their jobs to men and women from low-cost labor nations.

With the loss of millions of American jobs, city, county, state, and the federal government realized sharp decreases in revenues from taxes and consumer spending. Add the September 11, 2001 event, the 2008 world economic crisis, and the situation became compounded through people’s fears resulting in decreased spending, leading to further job losses and more fear, less spending, less taxes, etc.

Detroit’s situation mirrors city, county, and state economic-financial difficulties across America – and the world. Detroit has suffered a tremendous decrease in revenues, the main issue being that the city ran out of cash – cities are cash in / cash out operations. The figure of $18 billion is one which is somewhat irrational because it includes Detroit’s obligations many years into the future. Governor Rick Snyder did not need to take the option of bankruptcy for Detroit. The city’s most important number is its $200 million current shortfall, which is manageable without bankruptcy.

Consider that the State of Michigan and Rick Snyder withheld from the city some $67 million in revenue sharing funds shortly before bankruptcy was filed for. There has been a marketing campaign to pump up the dollar amounts regarding Detroit’s obligations. Some consider the $18 billion amount as a fantasy, marketing ploy to push Detroit into bankruptcy. In 2005-6 Detroit arranged loans of $1.6 billion to bolster pension funds, of which one half or $800 million involved complicated Wall Street derivatives. In the contracts involving the derivatives, there was a clause which stated that if the city’s credit rating became downgraded, the entire 20-year interest amount was payable today.

This is analogous to you signing a $200 thousand dollar mortgage with a clause that says if your credit rating drops you must pay the $300 thousand (mortgage interest only – not the principal) in compound interest you would eventually pay the lender after 30 years – now. I do not know to what extent this derivatives deal by the city – considered an unbelievable action because of this immediate payment clause – figures in the city of Detroit’s eventual bankruptcy. It is interesting to note, however, that, with current bankruptcy laws, of the claimants in the bankruptcy of Detroit, banks will receive their “pound of flesh” in full before those junior claimants such as the city’s pension funds – threatening drastic cuts for pensioners.

There are some who think that Detroit’s bankruptcy was politically motivated, the result of laws which allowed Governor Rick Snyder to appoint an “emergency manager” in any city or county in Michigan which he has determined unable to take care of their government’s financial affairs. The elected officials in Detroit would not have taken the action of declaring bankruptcy, it was a decision made by unelected people. This raises some serious questions regarding democracy and constitutionality.

If the State of Michigan had a public bank like the Bank of North Dakota the city of Detroit would not have needed to go to Wall Street (WS) for funds, it could have obtained the loans through credit from the Bank of Michigan public bank, with terms much less expensive as well as much less risky than the WS transactions the city made. Besides starting a nationwide debate on protection of pension funds for current and retired public employees, the city of Detroit’s bankruptcy will also start a nationwide debate on potential solutions to be gained through establishment of public banks in every state of the union.

Most importantly, Detroit’s bankruptcy will start a nationwide debate on the establishment of a public “Bank of the United States”, replacing the privately owned Federal Reserve System.


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