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.
Ellen writes:
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.