Ellen Brown’s recent article asks whether a blanket ban on short selling is justified to stop illegal market manipulation threatening the banking system

As the banking crisis lingers on, PBI Chair Ellen Brown examines the role inherently fraudulent short selling played in recent bank failures. Ellen writes: Many banks have major unrealized losses on their balance sheets, yet they have not been subjected to runs by depositors. The runs on First Republic and Silicon Valley Bank were evidently …

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Girl facing Wall Street bull. Photo by Robert Bye

News Roundup – June 1, 2023

Public Banking As Mayor, Brandon Johnson Should Establish a Public Bank in Chicago | Saqib Bhatti, In These Times Can Public Banking Save the Financial System and Prevent Consolidation and a Credit Crunch? | Robert Stark, The Unz Review Current Bank Crashes Demonstrate Why We Need Public Banking | Trinity Tran, LA Progressive Letter to the editor: Change needed to end cycle …

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NY State Senate Banks Committee hosts a roundtable May 2, 12:00 – 1:30pm ET, to discuss whether New York State should establish public banks. Watch live on Facebook

PBI Chair Ellen Brown joins a roundtable on May 2, 12:00 – 1:30pm ET, entitled “Should New York State Establish Public Banks” hosted by Senator James Sanders, Jr., Chair of the Senate Banks Committee. Additional speakers include Andy Morrison, Associate Director, New Economy Project; Stephen Cohen, Executive VP, Pursuit Lending Finance; and Anders Tomson, President & CEO Chemung …

NY State Senate Banks Committee hosts a roundtable May 2, 12:00 – 1:30pm ET, to discuss whether New York State should establish public banks. Watch live on Facebook Read More

New memo demonstrates how FDIC membership is pointless for public banks backed by the full faith and credit of the state, as is the Bank of North Dakota

A new memo by Earl Staelin, attorney and Chair of the Rocky Mountain Public Banking Institute, argues that FDIC membership and the holding of 100% collateral generally required for a bank charter are “completely unnecessary for public banks that follow the Bank of North Dakota (BND) model and would substantially undermine their profitability and effectiveness.” As the FDIC …

New memo demonstrates how FDIC membership is pointless for public banks backed by the full faith and credit of the state, as is the Bank of North Dakota Read More

Latest article from Ellen Brown exposes the war on crypto that triggered the latest bank crises and the FDIC’s new role as political executioner

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 …

Latest article from Ellen Brown exposes the war on crypto that triggered the latest bank crises and the FDIC’s new role as political executioner Read More

Los Angeles consultants release the first paper of a report series outlining viable approaches for establishing and administering a Los Angeles public bank

On April 20, Jain Family Institute (JFI) and Berggruen Institute released an introductory working paper, the first in a joint report series that is aimed at providing the city with a template for the programs and administrative structure of a municipal public bank that can best serve the public interest. These reports were initiated by Los Angeles City Council’s unanimous …

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Thomas Marois and Public Services International publish a policy brief for workers and trade unions on the potential of public banks

PBI Advisory Board member Thomas Marois and Public Services International has just published a policy brief entitled “The potential of public banks to fund local quality public services: A policy brief for workers and trade unions” In this introductory video, Thomas explains that the motivation for this paper was to address the huge gap in awareness and …

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Girl facing Wall Street bull. Photo by Robert Bye

News Roundup – April 29, 2023

Public Banking Transcending Finance with Public Banking | Trinity Tran, Medium Bank Bailouts, Again! Time to get the SF Public Bank Up and Running | Rick Girling, El Tecolote 4 ways to close the homeownership gap | Betsy Vereckey, MIT Management Sloan School Opinion: Public Banking is a Win for New York’s Tenants | Roy Zornow and Elizabeth Haak, CityLimits VIDEO: Senate Inquiry into Bank Closures in …

News Roundup – April 29, 2023 Read More

Richard Werner briefing memo print

VIDEO: Web presentation with Richard Werner on Tennessee state bank is now posted. In case you missed it: Richard Werner briefing memo supports Tennessee state public bank

Illuminating discussion with Richard Werner and Catherine Austin Fitts is now posted: Werner: “Like many crises, it’s an engineered crisis. … We can’t trust the Fed. And therefore what do we need? … What you need is a state level bank … as a bulwark to support and back … all the banks in the …

VIDEO: Web presentation with Richard Werner on Tennessee state bank is now posted. In case you missed it: Richard Werner briefing memo supports Tennessee state public bank Read More

Three cities Public Bank East Bay

Berkeley City Council approves Public Bank East Bay’s viability study, joining Richmond and Oakland in the working group creating a public bank

Public banking takes another key step forward in Northern California. Public Bank East Bay writes: On Tuesday, April 11 (really, really close to the first minutes of April 12), the Berkeley City Council approved Public Bank East Bay’s viability study and committed to join the working group that will hash out the details of how the …

Berkeley City Council approves Public Bank East Bay’s viability study, joining Richmond and Oakland in the working group creating a public bank Read More

SVB via ScheerPost

Ellen Brown’s recent article suggests it’s time to change the rules of the banking game

PBI Chair Ellen Brown’s recent articles on the current state of the banking system have led to a surge of interest in public banks as well as a spate of interview requests from all corners. Her article “Banking Crisis 3.0: Time to Change the Rules of the Game” in ScheerPost points out that these recurring banking crises are …

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