PBI Chair Ellen Brown latest article in ScheerPost exposes the behind-the-scenes coordinated attack on crypto banks that brought about the latest banking crisis. The apparent political execution of these solvent banks has implications for public bank initiatives.
Cryptocurrency experts Caitlin Long and Nic Carter take the opposite view [from SEC Chair Gary Gensler]. They acknowledge the link between crypto and the recent wave of bank failures and the runs and threatened runs they triggered, but Carter and Long make a compelling case that it was the FDIC, the SEC and the Federal Reserve that brought the banks down, by a coordinated, extrajudicial “war on crypto” that blocked that otherwise-legal industry from acquiring the banking services it needs.
The public banking movement has run up against similar roadblocks. Both cryptocurrencies and publicly-owned banks compete with the Wall Street-dominated private banking cartel, but more on that after a look at the suspicious events behind the recent bank runs.
Photo by CryptoWallet.com Images, courtesy ScheerPost.