Public Banking

“Print the Money”: Trump’s “Reckless” Proposal Echoes Franklin and Lincoln

“Print the Money”: Trump’s “Reckless” Proposal Echoes Franklin and Lincoln

“Print the money” has been called crazy talk, but it may be the only sane solution to a $19 trillion federal debt that has doubled in the last 10 years. The solution of Abraham Lincoln and the American colonists can still work today. “Reckless,” “alarming,” “disastrous,” “swashbuckling,” “playing with fire,” “crazy talk,” “lost in a forest of nonsense”: these are […]

German Autobahn c. 1930's

How A Bankrupt Germany Solved Its Infrastructure Problems

“We were not foolish enough to try to make a currency [backed by] gold of which we had none, but for every mark that was issued we required the equivalent of a mark’s worth of work done or goods produced. . . .we laugh at the time our national financiers held the view that the value of a currency is regulated by the gold and securities lying in the vaults of a state bank.”

It’s the Interest, Stupid! Why Bankers Rule the World

It’s the Interest, Stupid! Why Bankers Rule the World

People generally assume that if they pay their bills on time, they aren’t paying compound interest; but again, this isn’t true. Compound interest is baked into the formula for most mortgages, which compose 80% of U.S. loans. And if credit cards aren’t paid within the one-month grace period, interest charges are compounded daily.

16th April 2016 - Grassroots union 'United Voices of the World' protest at London TopShop branches over suspended workers and London Living Wage

Topshop protests over Living Wage and suspensions

Cleaners at Topshop are sub-contracted to a company, Britannia Services Group, that made £1.34m profit after tax. Philip Green, worth nearly £5bn, runs the Arcadia Group that owns Topshop. Arcadia made more than £250m profit last year, but it is registered to Philip Green’s wife, who lives in the Monaco tax haven. Mr. Green recently bought a £100m yacht. The […]

The Populist Revolution: Bernie and Beyond

The Populist Revolution: Bernie and Beyond

The world is undergoing a populist revival. From the revolt against austerity led by the Syriza Party in Greece and the Podemos Party in Spain, to Jeremy Corbyn’s surprise victory as Labour leader in the UK, to Donald Trump’s ascendancy in the Republican polls, to Bernie Sanders’ surprisingly strong challenge to Hillary Clinton – contenders with their fingers on the popular pulse are surging ahead of their establishment rivals.

IMF’s Rogues Gallery: Crooks, Rapists and Swindlers

IMF’s Rogues Gallery: Crooks, Rapists and Swindlers

The IMF is the leading international monetary agency whose public purpose is to maintain the stability of the global financial system through loans linked to proposals designed to enhance economic recovery and growth. In fact, the IMF has been under the control of the US and Western European states and its policies have been designed to further the expansion, domination and profits […]

Debt audits challenge the power of opaque finance

Debt audits challenge the power of opaque finance

Financial capitalism is photophobic; it doesn’t like the light and thrives on opacity”, says Gerardo Pisarello. He is deputy Mayor of Barcelona, where the panel he speaks on takes place. This late November event is the culmination of several days of convergences between NGOs and social movements to formulate a ‘Common Project on Debt for Europe’. Shedding light on the […]