Good to remember that in 1933 FDR abolished the national banking system, centralizing at last the control of the money supply in the Federal Reserve system. Created by Congress during the fiscal crisis of the Civil War, National Banks issued their own banknotes. Unlike the private “wildcat� banks of the antebellum era, that so often disappeared leaving people holding worthless paper, the solvency of these institutions was guaranteed by assets held as required in their federal charter. Some 15,000 banks joined the highly successful system over the years. When FDR abruptly ended the program, millions of National Currency notes had already been printed with blank faces. These became the unique “Federal Reserve Banknote� series, with the Fed district bank names printed where the names of the local banks would have appeared.

It seems intriguing that Wikipedia’s entry on the system makes no mention how and why it was ended.

I was born in North Dakota, attended the University in Grand Forks, and obtained my student loans through the Bank of North Dakota at a very reasonable rate of interest. Everybody in America should be so lucky!

“Interconnected derivatives backed by collateral that has been “rehypothecatedâ€� (pledged or re-used several times over).”

Hmm. Sounds like a chain letter pyramid scheme.

So the really interesting question here is “How has it managed to, so far?, avoid subversion and destruction by the usual suspects?” They are unconstrained to the point of murdering anyone who stands against them.

An interesting comparison would be what happened across the river in East Grand Forks, Minnesota, after the flood.

Keep up the good work Ellen

“The Bank of North Dakota (BND) operates on the same principles as any capitalist bank, except that its profits and benefits serve the North Dakota public rather than private investors and executives”

“Has [ND] secretly gone socialist?”

Only in the USofA could a public bank be associated with the pejorative term “socialist”. I couldn’t find the article on private ownership self-evidently equating to better social outcomes in the Constitution, but it must be in there somewhere.

But seriously, the BND is an interesting quirk of history and your explanation as to why there hasn’t been a single new bank in the CONUS for 14+ years make total sense. Wall Street is a closed club and will remain that way. Banking is the most fundamental utility, yet for 111 years America’s banking system – and thus to a large extent the country itself – has been controlled by private interests.

Perhaps when DRW’s message reaches a large enough audience a watershed will be reached. I’ve just commented on Michael Hudson’s latest and mentioned The Great Taking (with link to your 2023 TUR article). It alarmed me slightly that Michael didn’t mention it himself in the context of his piece. It is the mother of Boring but Important stories. Best wishes.

Amen. Decentralization is good. Keep going & you’ll get there. Convertibility is key to quality currency.

A small price to learn the ultimate lesson. It’s all funny money to them anyway. Russia is more self sufficient as a result. Their economy has rebounded is humming along. I’m not a fan of government in general but Russia is better for the Russians now so I disagree with your conclusion.

Ms. Brown has been advocating for all this for decades. She seems not to’ve noticed a Natural Fact pointed out long ago by an eyewitness observer of it all. “The only real role for Congress, in the all-American soap opera, is to keep the pot boiling they cook the Country’s books in every year.�

This can only be done by burning through billions and trillions without stop. Of-course when it all inevitably does stop, the entire house-of-cards collapses. So far, the boys ‘n’ girls on The Hill are running true-to-form. Signs of exhaustion, though, are everywhere.

No, wild Ponzi and con-men/women schemers. That’s what the old USA is about now. This once great Republic now it is a “democracy” has been taken over by Kleptomaniacs from the dregs of the old world, its that simple. Especially Wasp’s, Wop’s, Jews…

A proper national accounting practise in every nation is urgently needed to ensure that collectively in any given period of time there is the correct amount of purchasing power distributed to the citizens of a nation to buy without debt what goods have gone onto the market.

Such a system existed and worked magnificently prior to the introduction of the ZOG owned Federal Reserve.
It was called The Classical Gold Standard.

Under that system, not only was purchasing power preserved during the 19th century, but a dollar in 1900 had MORE purchasing power* than it had in 1800 – and all that was achieved in the context of far higher wages for the average worker in nominal terms.

(*And we’re not talking just a few percentage points more purchasing power either. A dollar in 1900 had more purchasing power by a WIDE MARGIN than it did one hundred years earlier).
That’s what a Gold Standard, in conjunction with unfettered Free Market Capitalism and Minimal Gubmint (or at least as close to that ideal as any nation has come to in all of recorded history), will deliver every time.

You heard right. Under a Gold Standard, despite there being some episodes of severe inflation in the mix (esp. during The War of Northern Aggression – which is falsely referred to by some as the American Civil War), the 19th century as a whole brought DEFLATION.

And this should surprise no one. Because inflation is ALWAYS and EVERYWHERE a monetary phenomenon. In other words, if you print/digitally conjure trillions of your currency, you will get runaway inflation.
If you keep the money supply constant (or at least increase it incrementally, always ensuring the growth/productivity outpaces the rate of money creation), then you get DEFLATION. It is THAT SIMPLE.

Governments cannot conjure gold (and silver – seeing as a bimetallic standard has been the norm in most civilisations for over 5000 years), so a Gold Standard ensures fiscal RESTRAINT and responsible spending practices.

Meanwhile, you will never hear a good word about the Gold Standard spoken by economic charlatans like that voodoo economist and Marxist Michael Hudson.
In fact he smears it constantly, all the while talking up the benefits of the Fiat Monetary experiment (which has enriched his ZOG benefactors immensely).

Ellen Brown, if you’re reading this, I recall that you were on friendly terms with Hudson in the past and that you see eye to eye with him on some matters.
But, unlike Hudson, you’re certainly more sensible than he is. You’re more likely to be pragmatic and recognise a failing monetary experiment (like Fiat money), because I believe you’re not beholden to the Jewish mischief makers (like Hudson) that control the entirety of the western financial system.

So Ellen, are you willing to admit that the Fiat Monetary experiment ALWAYS ends in tears, that every nation that adopts it is, sooner or later, inundated with an inflationary tidal wave?
Sure, the USD hasn’t depreciated into worthlessness just yet and has been around for quite a while.

But that’s because it has world reserve currency status, and that has propped it up for longer than it deserves. But that exorbitant privilege will soon be coming to an end.
And when it does, the U.S will be embroiled in an inflationary depression, the likes of which no major nation has ever experienced in the post Weimar Republic era.

I like Ellen Brown and admire her relentless years-long hard work to reform the very broken US financial system, however she is missing some essential basic things.

The real economy for any nation are the useful physical things and services provided and the ability of the public to be allowed to obtain these as required.

The money system is a man made tool – or specifically an accounting procedure – that facilitates the collective effort that a modern production system requires. And then provides for the distribution of that production to the consumers, which is (or at least should be) everyone. Any claims that money is anything other than a man-made accounting mechanism for facilitating these two functions just causes confusion and helps to wrongly elevate in our minds the false believe that money is something that it isn’t.

A proper national accounting practise in every nation is urgently needed to ensure that collectively in any given period of time there is the correct amount of purchasing power distributed to the citizens of a nation to buy without debt what goods have gone onto the market. If this was done then just as at present, but with greater personal financial freedom, consumers will dictate to producers what they want, or don’t want and in what quantity.

If a bus has 50 seats available for a trip from one location to another the bus company issues up to 50 tickets. Not 100 or 25. But 50. The managers of a bus company have more sense than modern trained bankers, economists and politicians.

For a variety of reason, but primarily the replacement of labour by machines in production, there is always in any given period of time a “gap” between how much businesses need to charge to recover their financial costs and how much purchasing power is distributed to consumers. This “gap” has existed for a long time and just gets bigger with time and is the main cause of national debts.

It is not caused by a nation or a people “living beyond their means”. That’s a totally doppy argument. In real physical terms no one or no nation can live beyond their means. And put into it’s correct place the issue and spending of money must parallel the material and labour requirements of the production system and of consumption.

Studies done over 100 years ago showed that with increasing mechanisation less labour is required to make what a modern society needs. Up till now this has simply caused governments to create work frequently by enormous expansions of bureaucracies so that we head increasingly towards a totalitarian slave state. If a “dividend” is issued to all citizens equally which is issued because the production system doesn’t distribute sufficient purchasing power to buy what’s been made this would cease the need for banks to issue money for consumption. Administered properly the national debt would would just disappear in time.

In modern societies we have been conditioned to think with puritanical minds and so we instinctively think such a policy will lead to evil. But what could be more evil that what presently exists? What we presently do is say we cannot consume what nature (God actually) has provided without being permanently under the heel of private bankers who actually simply create what they presently issue. In essence we presently merely rent our money from the banks under onerous terms.

Fiscal rectitude seems “old school” thinking, if you need money just print it is the mindset of they day.

It has come to the point where those who are supposed to oversee government spending actively participate in the running up of debt because it benifits their groups’ projects.

Its time for an overhaul of the rules and regulations on spending, government should be held to a limit to what they can spend in their term, if they can get the economy in good shape then they can get a bonus package, a bit like Ukraines war funding the worst you perform the more you get.

Each successive government now seems to try and out-do the last in how much debt they can run-up…it has to stop, either by self control or by the law of markets…with a crash.

The best way to fund debt is to be Hegemon and never pay anything back, who’s going to ask for their money back, and who is going to stop paying the gangster protection racket?

And you also fight wars using the other guys assets to pay for it.

Samson slew the philistines with the jawbone of an ass, where the modern version is the Russians are being slayed by a fat ass in the form of the head of the treasury department, with Russian ass-ets.

Once 300 billion is spent the war ends, Russia would have then funded both sides, what a massive blunder that was by Russia.

And once again ‘Truth Vigilante’ opens his comment with a put down.

Thanks for the lengthy reply though, I think you partially answered my question.
USA bond holders own the debt, and they expect a steady interest payment on their investment in the conjured debt.

Surely these same bond holders should well understand the negative trend game that they have invested into – investing in money pulled out of thin air seems more like a gamble does it not or taking advantage of the apparently official / legitimate Government Ponzi scheme (even though the Federal Reserve Bank casino is privately owned).
So when the casino eventually folds or the debt is cancelled, maybe I should have asked who is the ‘innocent’ party left holding the bag.

The same privately owned Federal Reserve Bank officials (casino operators) who run the official / legitimate Government Ponzi scheme are also responsible for the hyperinflation that kicks in during the end game (bubble) of the current lending cycle. The solution is once all the monopoly players are wiped out (those left holding worthless government bonds and other smaller reserve banks) is to rename the currency and it’s value and to start another lending cycle, as was done in the Weimar republic scenario.

Otherwise, from the rest of your comments I think we’re on the same page.

Thanks

https://www.zerohedge.com/markets/heres-who-owns-us-debt

Once again Mr ‘Solutions’, you’re evidently lacking a solution when you write:

These are all electronic entries on a ledger to keep the economy going, which is fine, however why then the big deal about the massive unpayable interest due on the gigantic imaginary national debt?

The debt is far from imaginary – it is very REAL.

So, let’s start with these back-of-the-envelope figures which are approximately correct and representative of the U.S Gubmint’s position:

1) The USG takes in about $4 trillion is tax receipts (income tax, corporate tax, excise from tariffs etc).
2) It spends about $6 trillion on: Endless wars to prop up the Apartheid Israeli state and that sweaty poisonous dwarf Zelensky, Green energy boondoggles like those bird chopping wind turbines, inefficient solar panels, subsidising those self combusting EV lemons, welfare largesse etc.

ie: the USG runs a $2 billion deficit which it needs to fund by borrowing.

So, the U.S treasury will sell a variety of bonds (eg: 5yr, 10yr, 30 yr and short dated bonds), which were typically bought by foreigners in the past.
The money raised by these bonds will fund the budget deficit for that year.

Well, the U.S has been living beyond its means for decades, consistently running budget deficits. And these deficits have accumulated so that today there exists a $36 trillion national debt.
And, seeing as foreigners tend to buy mostly long dated bonds (like the benchmark 10 yr), the rate of interest on that at this very moment is around 4.2%.

If, for the sake of argument, I said that the entirety of the U.S debt bond repayments were in 10 yr treasuries, then 4.2% of $36 trillion= $1.5 trillion* in interest repayments that have to be made to bond holders.
(*This is actually very close to what the USG is repaying – it’s actually a little less, seeing as the interest repayments on some of the bonds were secured at a lower rate in the past).

SUMMARY: So, let’s assume next year the USG government outlays (ie: what it spends on Defence, welfare, social security, Green energy subsidies and other outgoings) is $6 trillion.If so, then straight away they have to deduct $1.5 trillion on INTEREST PAYMENTS to bondholders.

That leaves $4.5 trillion for everything else.
And, seeing as spending for military appropriations, countless hundreds of billions being thrown to the Apartheid Israeli state and into prolonging the Ukraine proxy war is INCREASING, that entails that an even smaller amount of the $4.5 trillion remains to spend on the needs of the American people, on healthcare, infrastructure etc.

The good news is that foreigners are buying less and less USG government bonds.
But since those budget deficits need to be funded, the ZOG owned Federal Reserve is stepping up to the plate and digitally conjuring those USD needed to buy the shortfall.

This entails that more and more trillions are being created out of thin air that now chase a more or less fixed amount of world output each year (output does increase marginally, but the rate of creation of USD is far greater).

End Result: Runaway inflation – which is coming to your neighbourhood very soon.

This is good news because the deficits will get larger, the Fed will print more and more, and this cycle will spiral out of control until the USD loses world reserve currency status.
This will result in something approaching hyperinflation in the U.S, as all the USD overseas come flooding back to purchase anything of value before the USD becomes completely worthless.

And, once the USD loses most of its purchasing power, the ability of the U.S to engage in its murderous foreign misadventures will greatly diminish. This is the GREAT NEWS.
Let’s hope that happens soon.

BTW, the stats for the USG budget deficit are actually WORSE than the figures I posted above would suggest.
So, take for example student debt, which was $1.74 trillion as of Sept, 2023 (no doubt even worse today). And, when the USG funds student debt, this figure is NOT COUNTED in the $6 trillion of budget outlays.

That’s because there is some accounting chicanery going on here, whereby the student debt is defined as an ‘OFF BUDGET’ item. And, in addition to student debt, there are countless scores of billions allocated each year to other ‘off budget’ items.
BUT, the USG still needs to borrow to pay for these off budget expenditures, and thereafter pay interest on the borrowings.

In a nutshell, the U.S economy/stock and bond markets are a House of Cards, and will soon implode. Anyone that has their assets in USD denominated assets (and that includes real estate), should dump them and invest in an asset class (eg: gold and silver) that will rescue them from the coming inflationary depression.

All humane and peace loving people of the world pray that the USD loses its world reserve currency status soon. Because this will herald a period of peace and prosperity, the likes of which the world* has never known.
(*Of course I mean the world, OTHER THAN the three heads of the hydra – the U.S/Britain/Apartheid Israel. The U.S will resemble a Mad Max post armageddon movie set, as angry/hungry/unemployed mobs loot and pillage, cities will be burning.
It’ll be like the BLM riots – only multiplied by one hundred or more).

As the saying goes: ‘As you sow, so shall you reap’.
Well, the Anglo-Zionist empire (and especially the Great Satan itself – the USSA), has been sowing the seeds of death and despair around the world for many decades now.
And the bad karma generated from that depravity will hit Americans like a tidal wave.

There is no freedom or escape either personal or financial from the U.S. government. A true patriot named Gordon Kahl attempted to free himself back in the 1980’s. For this he was labeled a traitor and an antisemite. And for refusing to pay Federal income tax Mr. Kahl was hunted down and assassinated on June 3, 1983 by the FBI and U.S. Marshals. To make it look good the Feds made sure a local sheriff made the kill shot, a 41. magnum round to the head.

If you borrow “money” for a house or land, the banksters spit out zeros, so their computers gloves.
You have several different bandits which gives out “money”, all are parasites.
This is the simple truth about “money”, to apply parasites on your neck, and make you a slave.

Please excuse my ignorance and enlighten me as to the machinations of the Federal Reserve system.

There is a constant alarm sounded over the ridiculous national debt and particularly over the massive unpayable interest on the debt.

To whom exactly is the national debt and it’s accumulated interest paid back to?
Where does it actually go? Is it not simply a number on a computer, an amount agreed upon.

The Fed creates the money out of thin air, then lends this thin air money to banks, who in turn lend up to ten times the thin air money amount to the public, who must then pay the printed version thin air money back to the bank, and if they can’t then they declare themselves bankrupt, the loss is the banks and is not passed back to the fed as the bank’s reserve holdings should cover what they owe the fed.

These are all electronic entries on a ledger to keep the economy going, which is fine, however why then the big deal about the massive unpayable interest due on the gigantic imaginary national debt?

Surely it’s all based on imaginary debt, the only thing that makes it appear real is when we all collectively believe it to be real.

Theoretically the national debt could be forgiven tomorrow, the outstanding amount written down and set back to zero and we could start all over again. If this was done, who exactly would be the people that owned the cancelled debt?

If loans are made with money created out of thin air, they constitute a form of printing money, and since it is created out of thin air, no one cares if it is not paid, but after it circulates, it is the same as any other currency and has the same effects as the money that circulates.

Furthermore, the money that is given away for wars returns, and when it does, it will be part of national consumption and will affect the economy.

Bitcoin was invented to hide dirty money, but when Bitcoins are bought, the dirty money remains in circulation.

The fact is that the economy needs honesty and that no longer exists in the country.

The “constitutional injunction” against default is a weakly worded clause
in the Fourteenth (= never properly ratified and therefore null and void)
and pertains to debt from the War of Northern Aggression;
I have held to everybody´s nauseam that America´s foundational Sin was
the quashing of Shays´Rebellion (for the promised American Jubilee) –
Washington mobilized more men against the veterans than at any one time against
the Brutish – so the priorities were clear from the beginning;
it is time to rectify that – and make it worldwide 😖

I read about 1/3 of EB’s silly nostrums, and esp. enjoyed the “trillion dollar coin” thingy.

plz send me one of them.

this aside, the Jew-S gubmint is so deep in the debt/entitlements trap that, short of defaulting on interest payments – which will happen bye-and-bye (c. 2030-2035, maybe sooner), there is no way out other than said default. Which will lead to cascading defaults everywhere else in our top-down Ponzi’conomy and a deflationary depression that will make the 1930’s look like raging prosperity.

no big deal tho. ZOG-tolerant ‘Murka deserves it.

P.S. Kill the Bank. That’s what it sez on Andrew Jackson’s gravestone: “I killed the Bank”. And he was right.

Sorry, i did not have the time to read it, but…

Somebody said:” As long as be people can vote to receive goodies…”
Which mean that democracy is about buying vote, not be fiscally responsable.

“… but they were designed for an earlier era with more stable, predictable climates and no population buildup below the dams.”

I wonder when was the “climates” predictable?!
If today with so many garbage (satellites, A.I., super computers, and hyper-algos) we can’t predict shit… I do wonder how we’re able to do it before all of that?

https://tenor.com/view/check-the-wind-hmm-let-me-see-simply-nailogical-gif-15883498

The actual problem is the buildup of modern moron slaves in flood areas (and not just this!)… But we prefer to blame CO2 and the still low green taxes.

Jews are third worlders. You can’t have a first World nation with this kind of people.

Yes, the fragile, ugly, boondoggle interstate is through which our products are shipped.

Railroads are better. They keep suppressing them. Gives one pause.

You are an idiot and you didn’t read the article because it is too intelligent for you.

I don’t have to “refute” free-marketism, whatever that would entail. It refutes itself.

If your only pathetic rejoinder is that it’s all crooked, then we are as one.

Yes. That is the nature of the free-market. It is all crooked. Always. You said it.

https://mises.org/mises-wire/entrepreneurial-profit-follows-good-decisions-not-exploitation

Calling us idiots isn’t a refutation of capitalism, it’s a sign of a weak mind. How about some evidence that free-market capitalism is in play instead of cronyism. You blame capitalism for all the ills created by government meddling in the economy. Then you call for more meddling as a solution, that does fit the label idiotic.

Third world welfare states will always put welfare handouts to buy votes ahead of things like infrastructure that are for the good of everyone. All the debt America has accumulated and literally none of it to address these types of real issues but instead created by idiotic wars for Israel and excessive welfare handouts.

You people probably excoriate Ellen Brown’s “welfare” solutions, with your solid “free market” sentiments. Even though her solutions originate in Alexander Hamilton’s “welfare” solutions.

You people are idiots. Fuck your free market capitalism. Fuck it. Fuck it bigtime.

Brown is right. You are wrong.

milton had a tiny eye allowing it to spin up to a catagory 5, it also had a massive amount of lightning at the very front of the eye and made a bee line for the tampa bay area. two major storms in two weeks generated in the gulf of mexico that never really produced these type of storms in the past, as the atlantic spawned storms used to be the real monsters. unusual electric anomalies were noticed both in the pacific and then in the gulf, as this low pressure area, that had been described as unlikely to develop, was spun up into a catagory 5 almost overnight.

my business is high and dry and did not sustain any real storm damage, but several of my wholesale customers were wiped out, as a result we went a month without any real revenues coming in, much like the covid lockdown that crippled us 5 years ago. right after covid, blackrock came into our town and started buying everything in sight often paying more than the asking price inflating a huge real estate bubble and drove rents up two and three times, as the federal reserve spiked interest rates making mortgages out of reach for most people, if you weren’t on the property ladder already, you’re not getting on, both residential and commercial. almost 40% of small businesses have been destroyed over the past 5 years and ever spiraling cost increases are making it impossible to make any money with a small business, which seems to be by design. we are being turned into wage slaves for their rentier economy.

and it’s not just us, remember the “fire hurricane” that wiped out protected areas of maui a couple of years ago, while leaving the billionaire estates untouched? and what about spain, just this week, where seville recieved a years worth of rain in eight hours without any advanced warning.

this all stinks of directed energy weapons being used to modify the weather. perhaps this is a tune up for ww3 but it sure makes disaster capitalism urban renewal projects easier, as well as theft of resources. these bastards are playing god and want to terrify us into compliance with their great reset and the destruction of independent means of earning a living, to coincide with the implementation of their digital block chains of economic slavery. this will allow them total control of our lives through our finances, the bastards told us we would own nothing and now we know they mean it.

these storms are not natural disasters, they are artificial disasters. i am not denying climate change but they are using that as a stalking horse to cover their nefarious activities in ginning up and spinning up these storms and directing them to areas they seek to loot in their disaster capitalism great reset of the assets of the middle and working classes.

helene blew past us on the west coast of florida but it produced a storm surge two feet higher than the previous record and i was shocked to find out how many of my customers were total wiped out as their nice older waterfront home that had never flooded before were now condemned and new building codes made it impossible for their owners to rebuild with what their policies covered they are forced to sell at bargain prices to vulture developers only too glad to scoop them up their prime lots for pennies on the dollar.

two weeks later hurricane milton jumped over mexico and started as a weak low pressure area and intensified 300% faster than any storm on record.

to be continued….(accidentally hit publish)

Interstate 40, crossing eastern Tennessee into western N. Carolina, is shut down at that point and will be for at least a year. If one is unfamiliar with the interstate system, it is the reason you have groceries, furniture, appliances, and almost all odds-and-ends you use every day.

In my youth my family frequently traveled into the Asheville area. The older relatives on my father’s side were entrenched there. It had become a place of convergence for carpetbaggers, Unitarians, and crystal bead-wearing zombies of all types since the late ’60s. Not that I wish it harm.

Ook, now I know why Florida aand North Carolina got the hit. They have Independent Statebanks. Here we goo aagain, same tiresome playbook. The f.. worthless eaters and parasites talmudic rothdchls/rockefellrs can’t stand any whatsoever alternative to their robberbanksterphsilofosy (never forget Andrew Jackson, the only one who gave them nothing). And so they use their weatherweapon… Whaat a bunch of nothings

Having read Empire of Debt (Bill Bonner, Addsion Wiggin) in 2006, I got a pretty good handle on what is, and has been unfolding, true to their predictions, ever since. We are insolvent, as stated in the article, and no one seems to know what to do about it; particularly the 535 members we “elect” to represent us and manage our money. Move over, illusion of freedom, the illusion of the American dream is living on borrowed time. Very few of us have known what hard economic times feel like on a countrywide basis, my 100 year old aunt being one of them. As the owner of a 300 trillion Zimbabwean note (I was told you need 7 of these to buy a loaf of bread at the time of issue), I hope I don’t live to see those times return.

What I fear most is that a digital dollar “rescue” plan will be trotted out, where the American sheeple will be told yet again, it will be for your safety, hand over (the rest of) your liberty; what will not surprise me is the stampede to get on the train, no questions asked.

Free Speech is to Jewish Power what Bug Spray is to pests.

Truth holocausts Jewish Supremacist mendacity that is the bedrock of Jewish Power.

agree and thank you, that was my concern, expressed in my original comment:

Notsofast says:
September 12, 2024 at 1:22 am GMT • 4.6 days ago • 300 Words ↑
excellent article once again ellen, this sounds like a great idea and if it is, i’m sure the fed will do their best to block it. i live in florida and would love to have an alternative. i’m lucky to have citizens insurance, a state owned homeowners insurance, that is much cheaper than other for profit companies and is much better at paying claims, but they are always trying to dump you. other companies can send you a letter saying they plan to assume your policy and if you don’t respond to this letter from a company you never heard, of they will automatically switch you.

the florida legislature recently passed a bill stating if a private company makes an offer within 20% of citizens, you have to take it. that’s what i worry about with a state bank. what if they do this under the pretext of protecting free speech but then twist it, to protect israel from bds free speech, under the guise of anti-semitism, as the state already does with state contracts. desantis just last year signed hb 269 in israel, to punish perpetrators of “anti-semitic incidents�.

this is my only concern considering the nature of these times in which we live. it’s a great idea and i think utilities should be the same, i am fortunate enough to have an electrical cooperative where i reside and my electric bills are a third of what i pay to duke energy in my business, after they bought out a local company and then paid for the transaction by jacking our rates up. i hear there are more communities looking to create co-ops to get rid of parasites like duke that follow the enron model.

https://stpetecatalyst.com/would-st-petersburg-launch-a-municipal-power-utility/

Any kind of decentralization is good for the people. But honest money would be the best way to help the people. Repeal legal tender laws and let the chips fall where they may.

And btw, BDS israel & free Palestine!

what is the difference between this and the seemingly identical article first published on unz on sept 11, other than the change of graphics and first one being 1700 words while this one is 1600?

don’t want to waste my time rewriting my comment.

excellent article once again ellen, this sounds like a great idea and if it is, i’m sure the fed will do their best to block it. i live in florida and would love to have an alternative. i’m lucky to have citizens insurance, a state owned homeowners insurance, that is much cheaper than other for profit companies and is much better at paying claims, but they are always trying to dump you. other companies can send you a letter saying they plan to assume your policy and if you don’t respond to this letter from a company you never heard, of they will automatically switch you.

the florida legislature recently passed a bill stating if a private company makes an offer within 20% of citizens, you have to take it. that’s what i worry about with a state bank. what if they do this under the pretext of protecting free speech but then twist it, to protect israel from bds free speech, under the guise of anti-semitism, as the state already does with state contracts. desantis just last year signed hb 269 in israel, to punish perpetrators of “anti-semitic incidents”.

this is my only concern considering the nature of these times in which we live. it’s a great idea and i think utilities should be the same, i am fortunate enough to have an electrical cooperative where i reside and my electric bills are a third of what i pay to duke energy in my business, after they bought out a local company and then paid for the transaction by jacking our rates up. i hear there are more communities looking to create co-ops to get rid of parasites like duke that follow the enron model.

Ellen Brown is an economic fraud. She is an attorney, not an economist, in favor of fiat currency and massive government intervention in the market, the very chicanery that has enabled such things as the federal reserve system, bank bailouts, and derivatives in the first place.
https://www.garynorth.com/public/department141.cfm
“Ellen Brown’s Web of Debt Is an Anti-Gold Currency, Pro-Fiat Money, Greenback, Keynesian Tract. Here, I Take It Apart, Error by Error.” by Dr. Gary North. Dr. North was so concerned by the chameleon nature of Brown and how conservatives were being misled by Brown that he debunked everything she published. Alas, Dr. North has passed away and Brown continues so spew her ignorance, now on the pages of Unz.com.

Intel and Amazon are breaking down? I hadn’t heard!
Tell me more, and I apologize for not already knowing.

When did she make the prediction, what did she predict, and when did what she predicted, happen?

Japan is now the leader in T-bills. China reduced from around $3 trillion (IIRC) to $0.75 trillion. It redirected its wealth to BRI etc., rather than leaving it with the ingrate. Maybe China can afford to lose some of the balance. So, it may hold on as a “nuclear option”.

Thanks Ellen for explaining the hazards of keeping your money in banks.
We’ve tried reading a variety of definitions as to what “derivatives” actually are. But to no avail.

It doesn’t insure our money is safe. Instead, it insures that the banks won’t lose a penny of their profits.

Therefore, it makes sense people are taking their bank deposits and investing far more wisely in other areas such as Gold.

The US congress and senate elections are futures derivatives themselves, in which campaign/candidate funding by the finance sector is a de facto contract to deliver services to the finance sector.

The finance sector funds both sides (market neutral!) and so always wins. The successful candidates have to deliver the goods (finance friendly legislation) for finance.

Campaign financing has to be fixed, before you can fix anything else. So it ain’t gonna happen.

Citizens United must be overturned.

I think that backing the world’s currencies is inevitable. How they will be backed remains to be seen. Those with gold will tell their populations that their currency toilet paper is now gold fringed at some minuscule percentage. None of the mafias will back 100% since they are all criminal enterprises. Cheating their human farm animals is their number one priority and they will only back the currencies with the minimum to placate the people that are going to lose just about everything when the economic SHTF. All backing will be in name only as far as the human herd is concerned. It’s the mafia to mafia dealings that will be monitored since they’re not stupid, don’t trust each other and it’s that that will set relative gold to the various currency values. BRICS is already headed in that direction and I believe they are going to set the standard even if it’s blatantly dishonest.

The lies told to the slaves each nation owns will placate those with Mulder Syndrome; the State ass kissers; ‘back the blue’; ‘thank you for your service; voters and other assorted halfwits. The smart people are already out of paper currencies and paper asset denominated scams.

What I’m waiting for is gold revaluation, especially in the US Dollar which will put one huge thumb on the scale for all revaluations. Jockeying in what an ounce is worth in the various currencies will redefine the currency exchange markets and the carry trade if the carry trade survives the big reset. Here I can count on the greed of the various mafias to help me out. Once gold is revalued, absolutely everything known to man will be revalued also.

Housing will take a phenomenal hit because new housing will get valued at the new raw materials costs plus new labor costs plus a profit and will have to be affordable once again in order to be sold at all. Existing stocks will get the used car treatment and lose a fortune from current unrealistic valuations.

That’s a great idea. But I don’t believe it will ever happen.

Wish in one hand, sh-t in the other. See which one fills up first.

The money changers are way too powerful.

The professors, economists, bankers, regulators, etc all have plans but not one of them fixes the root of the problem, the fact that there is no money in the system, just currency created out of thin air and we all know currency is the opposite of money, it’s debt.

To fix the problem, eliminate the concept of currency, return to money, gold and silver. Since gold and silver, the true money, can’t be conjured into existence, there is no more money from thin air.

Banking as currently conceived needs to disappear totally. It should be replace with a broker model for loans and vaulting operations for storing our true money, not some gov’t script. The credit card processors are and have been the mechanics for digital money and can continue their operations only changing their denominations to grams of metal instead of the national currencies.

Commerce then continues with ledger entries determining who own what quantity of which metal and the metals themselves seldomly move. Everyone uses their debit card to purchase everything from a hot dog to an airliner. Gov’ts are out of the currency/money business and must now tax the people for absolutely everything they want to spend on. Profligacy is cut back because there’s only so much a gov’t can steal before there’s politicians hanging from street lights. No more arbitrage between currencies since they don’t exist. Prices throughout the entire world are in G:S:C, gold:silver:copper grams or even just G:S or even just G since computers can split a gram down to as many decimal places as is deemed necessary eliminating the need for silver and copper as money.

Every new ‘banking product’ relied on phony money. All the national debts throughout the world were created out of nothing and now the debt load is overwhelming even the currency magicians. There is no solving the current problem because it’s too large. Anyone with any significant wealth in a bank deposit needs his head examined. That goes for all assets denominated in any gov’t currency.

Just think – a world where there’s honest money and all the phony professors, economists and bankers are now asking ‘do you want fries with that?’.

I’ve always worried that banks can legally “call in loans” if they need money in a crisis. Millions of Americans have 30-year fixed rate mortgages at 3-4%. If rates go above 20% and banks face collapse will they call in these mortgages and then offer to refi them at 22%?

A financialized economy is not sustainable and not competitive. The emphasis should be on investment in the real economy. That is the sort of paradigm shift that is necessary if the U.S. is to survive and prosper.

In 2008, governments had enough resources to avert total calamity. Today’s cash-strapped governments are in no position to cope with another massive bailout.

What they’ll probably do (once again) is try and cover the losses with public money. The big players (their friends) get to keep their gambling winnings with the taxpayer carrying the losses.

The problem this time round is that the bets and counterparty risks are so large relative to 2008. The risk chains are very complicated so the whole thing will likely lock solid. So they’ll have to print the money and completely trash the dollar.

In other words, dollar holdings such as bonds and treasuries would quickly become worthless (in effect the money being stolen from major holders like the Japanese and Chinese).

It’s theoretical at the moment, but it looks like it’s soon going to be tested (market leaders like Intel and Amazon currently breaking down).

ellen brown, once again you have hit the nail directly on the head. derivates are the ponzi scheme. they are insurance on bets. can you buy gamblers insurance in a casino, no they don’t offer it. can you open an insurance company without reserves put aside in a dedicated account? well why do neoconmen, flim flam artists have the right to do so?

derivates started as farmers insurance, to protect them against bad harvests or disasters. this is a really good idea, if you want farmers to be able to survive and continue to feed your family, a never ending cornucopia of food, without having to labor in the fields themselves. but greasy weasels, see this and instead of thinking of feeding their families, think only of enriching themselves in a most immoral and underhanded scam. this was completely illegal, until they paid off their even more immoral and underhanded politicians, to change existing laws, allowing this ponzi scheme, to fuel even larger ponzi schemes that have destroyed the very fabric of the country.

pull the plug, call them all null and void, make them return, the monies they collected and let the chips fall where they may, let them sue one another and let all bets be settled by the casino and players. sometimes you lose your shirt in vegas.

protect only depositors in banks, retirement funds and legitimate insurance companies, put the people first for a change. seize the fed nationalize it, arrest all the criminals running it, seize all their personal assets and do the same with all the investment banks. i call this the great reset, they will own nothing and be happy ðŸ˜�, if they’re not happy, follow through on the solution suggested in the first comment. we have ways of making you happy.

Nowhere in this article do I see Brooksley Born, chair of the Commodity Futures Trading Commission, the federal agency which oversees the U.S. futures and commodity options market, who went toe to toe with Alan Greenspan in front of a Congressional Committee opposing his “complex financial instruments”. Not only did she warn Congress of the danger of the loophole used, she predicted what would happen.

A problem easily solved

Make it plain that in the event of the Banks failing, the main board members be executed. In Public. Make it televised, Pay per view. This would have the following benefits to the public at large…….

1) The main players would be taken off the board

2) The televised event (public execution) would be at worst revenue neutral & at best hugely positive. Proceeds directly to the bank depositors stiffed by the executed.

3) Replacement “main players” would be more careful as to the behaviour of Banks in future

Here we have a rare development- a serious representation of a constitutional principle allowing people access to protections under our constitutional order without the exclusionary effects of presumption exercised by large interests,which, to oppose, require much time and money. These days people must find ways to communicate with those who, only on the face of crucial issues, don’t recognize their common interests, and who blow right past them with inflammatory language, never getting to deeper understanding required to oppose even sovereignty at international as well as national levels. We should be able to have informing exchanges discussions, for instance about our financial system’s bypassing most Anericans’ opportunities to thrive, as evidenced by the drastic fall in real wages, while income taxation is now far less graduated. A Harvard -Duke study cited in August ‘2012 by Pail Craig Roberts showed empirically that 40 % of US owned 0.3% of the wealth. The top 20% owned 84%. The uniparty never gets to the crucial points although they do agree about the need to risk nuclear war while avoiding the causes of this horrid pass! Hedgefund- military interests take precedence in an over militarized economy as the dollarbased tyranny is now opposed by halfthe world’s population, while our debt is held by countries we import far more from than we export to. Astonishingly, well- intentioned alternativej journalists know only one sing-song- the budget deficit- without any mention of the private bets, notional value, exemplified by Comptroller of the Currency report at end of 2011 showing a derivative position of 70.2 trillion whole it had only 136million in actual capital. The ratio for Goldman Sachs was 2,295 times its capital! The budget deficit was necessitated by the uncontrolled liabilities that
are continually supported by “quantitive easing” or more Fed funds to stop interest rates from rising on the enormous debt thatmost people have no understanding of. So much more to say, but this population must realize its popular power and declare null and void the derivative assets that create no foundation for prosperity but only for what will be, as David Rogers Webb terms in a free PDF titled THE GREAT TAKING Fundamental here are realities of practices allowed by our Congress: “Safe Harbor”, ” Repos Financing”, and “Rehypothication” Most will not believe what they’re reading at first, but we can all talk about this largest grab of wealth. Let’s also note that Russian abs Ukranian

Screw Kagan and her “settled constructions”. Those constructions, floating independently above the law, are precisely the problem. If a tax is to be levied, it must be discussed and passed by legislators, and reviewed by the courts to ensure that is within the constitutionally allowed purposes. Government agencies don’t get to tax at will.

What about the TSA screening at airports? Isn’t that unconstitutional search/ non-consensual search contrary to the 4th amendment? They have ruined air travel. Was that system created by a rule? or is it Patriot act? Is patriot act unconstitutional?

very good, now overturn citizens united, not going to hold my breath.

Hmm… I’ve heard this one before. It might well be that, as currently operating, printing money requires the creation of debt. But surely, it doesn’t have to! I mean, this is not like physics where there are hard conservation laws, money is a fantasy. We could rig it so that printing money destroys debt, or anything we want – the issue is whether such a system would or would not be better for organizing our affairs. The government could surely just print money and not add debt anywhere, and distribute it as needed. It’s only that some combination of moderation in printing and a level of taxation would be required to make sure that the money supply available for people to spend did not outpace productivity growth. Surely?

A very interesting and intelligent post. Kudos!

One quibble: I am skeptical about the financial transaction tax. I think you have made the mistake of what is sometimes called a “static analysis.” Sure, in theory the financial economy is so huge then even a fraction of a percent transaction tax could yield huge returns – but – the financial economy requires huge churning and I suspect that the friction of even a very small transaction tax would rapidly cut down the size of the financial economy. Which might be a very good thing, mind you, but perhaps not that big a source of revenue.

A general strike of 2025 is a good idea.

It’s very interesting that when he headed the Exchequer in 1925, Winston Churchill attempted to restore the gold standard in England. In preparation, tens of millions of gold sovereigns were struck at the mints in Pretoria, Melbourne, Sydney, and Perth, but the bankers were so adamant in opposition that they crashed the economy, resulting in a disastrous depression. In turn it was met by the great General Strike of 1926, which very nearly brought the corrupt system down altogether.

Brown reveals her ignorance of how the U.S. Treasury works. Printing money is no different that issuing gov bonds. She’s yet another useful idiot.

“Coin Clipping (Jew debasement) punishable by Boola Boola.”

I thought it was called Oonga Boonga. Either way, should be a pretty good deterrent.

Chinese productivity increased 1800%?

Ah, good point. Thanks.

Oh, yeah.

He got lucky and made some money on “coins”, so he thinks he’s a genius.

Now he hawks his stupid “coin” speculations to suckers. LOL

But I do think his videos are funny. And he does pretty much does get the game.

I watched for a while. Berwick is a snake IMO.

For a reasonable chance to have a democrat president next year, it is unavoidable to adopt a VERA now, to allow federal employees with 20 or more years of service to retire with full benefits. Such a decision will anyway be taken in the near future.

Here’s a cheap laugh for you:

https://odysee.com/@DollarVigilante:b/Extinction-Level-Event-VIDEO-1080p:e

All it will take is for one of the larger, able to defend itself, countries to go metallic and it will then be a virtual avalanche of followers so not to get left holding a worthless bag of fiat. Citizens should position themselves accordingly by having a decent stock of AU/AG/CU coins to carry them through the turbulent transition. Even if not needed for the transition, any metal stock will retain its value.

“Meanwhile, the ZOG owned U.S Federal Reserve is digitally conjuring USD like there is no tomorrow and, …’

“Conjuring” is the right word. The US government does not print money, the Jew banking system conjures it out of thin air and tax – paying US (non-BIPOC) “citizens” (ZOG subjects) pay the Jews interest on it.

Hard to believe wages increased 983% [in China in the 25 years leading up to 2021] without price inflation…

Wages rose significantly during the 19th century in the U.S, yet a dollar in 1900 had significantly more purchasing power than it did in 1800.
Yes, you heard right. There was DEFLATION in America during that century even though salaries increased significantly for the common man.

That’s because the U.S (and the western world) was on the Classical Gold Standard.
Because gold can’t be printed/conjured into thin air to debase the currency and cause runaway inflation.
In addition to that, because of the rapid technological progress during the Industrial Revolution, workers became far more productive.

Example: A primitive caveman 100,000 years ago could dig with his bare hands a sufficiently large hole in the ground to bury one of his dead kin folk in perhaps several hours of intensive digging.
Then, in the Bronze Age, an individual equipped with a tool that resembled a modern day shovel, could dig the same hole in less than an hour.

Fast forward to today and a solitary man using a modern excavator could dig a massive hole in the ground in a day that would’ve taken 1000 men a week to dig in bygone millennia.
So, in the case above, even allowing for the expense to hire such an excavator for a day, one could afford to pay a much higher wage for the operator of that excavator and still charge the consumer LESS for the finished product.

Summary: Inflation is ALWAYS and EVERYWHERE a monetary phenomenon.
So, if the money supply were to stay constant (ie: no money printed or digitally conjured into existence by the government/ZOG owned central banks), then all things produced will, on average, become CHEAPER. ie: we will have deflation.

That’s because humans are very creative. They will introduce labour saving devices, introduce new technologies, make the logistics network more efficient, produce cars and trucks with more fuel efficient engines that lower the costs of delivering goods to market. And thus:

THE NATURAL ORDER OF THINGS IS THAT THE PRICE OF GOODS WILL BECOME CHEAPER EACH YEAR (in an environment where the money supply is constant).

In the case of China, the money supply no doubt increased a lot during that 25 year period you referenced and wages with it, but productivity increased at a similar pace – hence no price inflation.

Meanwhile, the ZOG owned U.S Federal Reserve is digitally conjuring USD like there is no tomorrow and, whilst there has been quite a bit of price inflation in recent years (especially during the Covid Psyop when workers were paid to stay at home and thus not contribute goods and services), the reason there has not been Zimbabwe like increases in the CPI is because the U.S ‘exports’ its inflation by sending those USD offshore.

In other words, because the USD is the world’s reserve currency, nations around the world still [foolishly] accept these greenbacks in exchange for real tangible goods that other nations produce.
But this won’t go on forever. The world is waking up from its stupor and the reserve currency status of the USD will soon end.
When that happens, all those trillions of USD that are currently offshore will flood back into the U.S to purchase everything that’s not bolted down, and the U.S will descend into the abyss as hyperinflation takes hold.

Let’s hope that day comes soon. – for the sake of humanity.
Loss of reserve currency status for the USD will be accompanied by an immediate reduction in belligerent and murderous U.S foreign policy as the Anglo Zionist empire is no longer capable of funding (to anywhere near the previous extent), its foreign misadventures/intimidation of other nations/subsidising the Apartheid Israeli state and funding proxy wars like in the Ukraine.

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.
Thomas Jefferson

The problem and its solution have been known for a long time. What we have now is water under the bridge; too late to take good advice.

The US will default either outright or through monetary inflation as there are no other options. The outright approach would be most honest so that’s probably off the table since ‘honesty’ is an unknown element in DC and the entire banking sector. The trend in the last decades is monetary inflation and that will continue into hyperinflation to ruin the currency.

Dedollarization will cause long sequestered Dollars to be returned to the US to drive up price inflation that the Fed has little to no control over. Should the rate and quantity of those no longer needed Dollars being returned be large enough, severe price inflation would be the result and the Fed would lose all control; the end.

The problem actually stems from the unnecessary invention of an abstraction, a currency unit, namely the Dollar which isn’t money. Money should be denominated in grams of gold, silver and copper. All prices should be in G:S:C worldwide so that there is no seigniorage, no reserve currency, no arbitrage between currencies since they don’t exist if the world were to use actual money.

Currencies were created as a vehicle to purposely cheat the working man by the frauds in economics and their masters in banking. The use of money would prevent artificial planned monetary inflation and it is monetary inflation that eventually leads to price inflation. Using money instead of currency means relatively stable prices with the only fluctuations being the injection of new mined metals into the world’s economies.

One of the best things about the use of real money would be the reclassification of economics as fraud and place it along side history’s other failures: phrenology, alchemy and astrology.

Alt Right MMT. LOL.

The Committee for a Responsible Budget similarly concludes, “Without reforms to reduce the debt and interest, interest costs will keep rising, crowd out spending on other priorities, and burden future generations.�

Not saying you or they are wrong, but we heard the exact same thing in the early eighties when the budget deficit was <$250B.

This was demonstrated by the Chinese when they increased the money supply by a factor of 1800% (18 times) in the 23 years between 1996 and 2020…and price inflation remained consistently low during that period.

Again, not saying you’re wrong, and it’s a little difficult to find guaranteed correct info, but the intertubes tells me that the Chinese minimum wage increased from 239CNY in 1996 to 2590CNY in 2021. Hard to believe wages increased 983% without price inflation…

This isn’t a technical issue, Ms. Brown. Everybody knows where the money is. The problem isn’t printing it, the problem is who wants to cross (((Capone))).

Mr. Ness, everybody knows where the booze is. The problem isn’t finding it, the problem is who wants to cross Capone.
(At 1:20)

https://youtu.be/R2qjG-DXZLQ?si=vxrfzySGk4IMFVzw

Video Link

the federal reserve is neither, it is 12 private banks, owned by who knows who

Apparently it is owned by (((the usual suspects)))
https://www.realjewnews.com/?p=177

But since June 2022, the Fed has not been buying securities but has been selling those it already has, reducing its balance sheet in an effort to fight price inflation by shrinking the money supply through “quantitative tightening.�

Fed hasn’t been selling:

https://www.richmondfed.org/publications/research/econ_focus/2022/q3_federal_reserve

“…When QE ended, the Fed reinvested any maturing securities to maintain the size of its balance sheet. With QT, the Fed stopped reinvesting up to $30 billion in maturing Treasuries and $17.5 billion in maturing MBS every month, passively shrinking its assets as those securities “roll off” without being replaced. Those caps are scheduled to rise to $60 billion and $35 billion, respectively, in September.” (Dated in 2022)

The Fed is saying in QT it is simply letting seurities mature, and not re-investing the proceeds. This shrinks the balance sheet without sellling securities.

Wolf Richter has written about this, reduction of balance sheet securities without selling.

Exactly Correct.

But the best part is getting the Jews that Clip Coins to experience the Boola Boola.

exactly right, and the federal reserve is neither, it is 12 private banks, owned by who knows who, who hands a list of ten candidates, for the president to choose from, to head the “reserve”. we are not allowed to audit them. they skim 5% off the top, of every dollar they create out of thin air and have no incentive to reduce the national debt as they are rentier banksters that follow their own “rules based order”, which appears to be based on the talmud, imho.

we currently are paying a trillion dollars a year to “service” the debt, which is comparable to the pentagon’s budget, that we are also, not allowed to audit, the second leg of this grand ponzinomics. on 9/10/01, donald rumsfeld, casually announced, the pentagon was missing a couple of trillion dollars, and the next terrorists flew a missile, er ah, i mean a plane, directly into the pentagon office investigating the missing monies, and then coincidentally another plane destroyed all their back up evidence in the world trade center, how convenient.

sieze the fed, nationalize it, sieze all of the personal assets of all involed, make them prove they aquired them legally, (just like cops seizing cash at a traffic stop). and if any improprieties are found have them hanged for treason. simple solution to a complex problem.

A return to real coinage (i.e. real money) would solve almost all of our problems instantaneously, so it will never be allowed to happen.

In the usurious system, the creation of debt to be repaid at interest creates a system that funnels wealth from the average citizen to the wealthy debt holders. That is why the system was created (in imitation of the British system [The Bank of England]) and why it continues. The financing of government by money creation rather than debt creation would end the gravy train to the elite. Don’t hold your breath waiting for that to happen.

The solution is simple… and will simply piss off the Jews.

Repudiate the Federal Debt in part… convert it at a 0.1% annual Coin payment (1,000 years).

Eliminate Electronic Money.

Eliminate Paper Money.

Go Constitutional… Go Coin.

No more Credit or Debit cards.

No more electronic blip money.

Coin. Metal. Carry & Spend.

A “Constitutional” Dollar…

2g $0.05 coin made of Steel.

6g $0.25 coin made of Stainless Steel.

12g $0.50 coin made of Stainless Steel.

25g $1 coin made of Stainless Steel.

25g $2 coin made of 70Copper/30Zinc.

30g $5 coin made of 80Copper/20Nickel.

30g $10 coin made of 91Copper/9Silver.

30g $20 coin made of 82Copper/18Silver.

30g $50 coin made of 55Copper/45Silver.

30g $100 coin made of 10Copper/90Silver.

30g $500 coin made of 91Copper/9Gold.

30g $1,000 coin made of 82Copper/18Gold.

30g $2,000 coin made of 64Copper/36Gold.

30g $5,000 coin made of 10Copper/90Gold.

50g $10,000 coin made of 10Nickel/90Palladium.

50g $20,000 coin made of 10Nickel/90Platinum.

Let banks be real… take Coin deposits to safe boxes.

Make Theft punishable by Hard Labor only under $1,000… Death Penalty over $1,000.

Coin Clipping (Jew debasement) punishable by Boola Boola.

Why eat fruit when you could eat a donut? Because doing what is easy will kill you. Let some other country try this experiment since it will “not necessarily” lead to money becoming worthless. A tax on the trillions created through debt to pay the debt at least makes sense, but wouldn’t the first step be to stop adding debt?! Unfortunately there can’t be any solution so long as the country is run by corrupt people.

Third world pipo make third world countries. This is an example of a phenotype following the genotype. Gruesome Newsome can play all the word games he wants. It won’t change reality. Brown pipo and pasty fake jews are a negative value in the real world. White Men built the future. Only they can maintain it. Orientals merely copy, they don’t create. After a few generations, copies will deteriorate. The insane ideation of the synagogue of Satan to make a world of brown slaves is a recipe for a mass extinction event. The brown masses will kill off the fake jews and doom themselves to an orgy of violence and destruction. Neither the fake jews or their would be slaves can feed themselves. It’s White Men’s agriculture that has bloated the world with maladaptive retards. This malinvestment is part and parcel of Satan’s mass extinction plan that the meat puppets follow. It is a giant suicide cult. The fake jews, their allies and the dumb brown masses are a recipe for complete extinction. Don’t expect any of these suicidal idiots to change course. The fake jew meat puppet is programmed from youth to pursue this strategy. Their allies are deluded deviants and cowards that follow the meat puppets. The brown hordes follow the free shit straight to perdition. It’s a sick social cycle that will kill all of humanity. You can change the words, but it won’t change reality.

…third world immigration alone, wrecked California. Every other ‘explanation’ is garbage.

Immigration is an effect, not a cause. Immigration (do you mean ‘invasion’?) doesn’t happen without the majority allowing it to occur–either actively or, for the most part, passively, being led by the few.

Look to why the majority allows it in the first place, and you will arrive closer to the radix.

The truth is that third world immigration, and third world immigration alone, wrecked California. Every other ‘explanation’ is garbage.

If California had kept on the same ethnic trajectory it had in, say, 1940, the place would now be the envy of the world.

I’ve seen an estimate that for every construction worker, there are ~8 workers in feeder industries. Lumber, cement/concrete, gravel/sand, glass, steel, aluminum, tools, fasteners, wiring, appliances, roofing, plumbing, insulation, drywall, flooring, carpet, landscaping, and on and on. Transport, sales, service. So don’t be fooled by the ~6% of the work force statistics for construction. A state owned bank funding developers’ loans is an employment generator.

With the current system, Californians are getting shafted by Wall St.

Ellen Brown’s ideas would stop the “blood loss”. That is a first thing to do, stabilize the patient. With the blood suckers continuing their program, the healing can never happen.

The remedy for unemployment is employment, and the remedy for the unhoused is affordable housing. An I-Bank expanded into a state-owned depository bank could provide both.

This is a win-win for California, because the developers’ loans from a state owned bank, rolled over to plain vanilla mortgage loans would accrue to benefit the tax payers of Callifornia, and decrease the tax burden.

…you won’t enjoy the results from the true collapse of California.

Enjoyment? Who said anything about that? Certainly life is tough, and full of pain. And it’s probably not getting any better, either. It’s like the old saying: Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.

Without sounding too dramatic, the entire edifice is going to have to come down before the left overs can attempt to make something better out of the whatever remains. Personally I’m not too optimistic that California, or the US of A for that matter, can be ‘saved’, in any sense of the word. But your guess is as good as mine.

If you or some of your loved ones live in the USA, you won’t enjoy the results from the true collapse of California.

The federal government likely will force taxpayers from the whole country to subsidize California’s state, county and city governments directly.

Of the additional people losing their jobs in California, some proportion will eventually leave California, largely for other US States. Of the people who can’t afford housing and life generally in CA, some will make their way to other States. They will compete for jobs and housing in the other States, making those new places more crowded, a bit more polluted, and more expensive.

Businesses around the country will lose some business as more of the forty million Californians lose jobs or purchasing power and have to curtail spending further.

Moreover, as much as it feels good in a spiteful way to say “huh-huh, Cali’s going down, get the popcorn�, there are millions of decent, peaceful, working people in CA who have opposed the madness. They will suffer, economically and emotionally and some physically, from the collapse, as will their children.

More simply, a drastic decline in federal tax revenues from CA individuals and businesses will be made up by higher taxes on the rest of the country, or more likely by even more borrowing and inflationary money-printing.

The federal government defrays a big chunk of the cost of Medicaid. As CA employment declines and cost of living keeps rising faster than wages and salaries, several million more people will lose job-based medical insurance or become unable to afford any separate medical insurance they may have. They and their dependents will end up on Medi-Cal, with taxpayers in the rest of the country footing almost SEVENTY percent of the bill:

https://www.kff.org/medicaid/state-indicator/federalstate-share-of-spending/?currentTimeframe=0&sortModel=%7B%22colId%22:%22Location%22,%22sort%22:%22asc%22%7D

Then consider the impairment of California’s massive agricultural production by civil unrest — widespread sustained violence and disruption reaching far out of the big cities. That reduces supply and raises prices for numerous fruits, vegetables and nuts. Jokes about “fruits and nuts in California� won’t help the other Americans, whose grocery bills will rise even faster than they are already rising.

…………….

PS – Suppose all the activist anti-family perverts, costly unproductive bureaucrats, criminal-enablers, long-term welfare parasites, newly empowered violent criminals, anti-white bigots, and their ilk in CA disappeared tomorrow. Imagine that the ten percent of the federal government’s debt and federal employee pension liabilities disappeared tomorrow.

The federal government would still be hopelessly indebted and headed towards insolvency itself. Tens of millions of US households outside CA would still be dead broke.

In other words, we shouldn’t think that the rest of the USA is so productive, freedom-minded, morally or physically healthy, economically sustainable, affordable, safe, livable than CA which is always uniquely vilified.

People who form opinions about the two states could come up with the following:

North Dakota has admirable qualities, and BND makes a lot of sense, but I wouldn’t want to live there due to fill in reason like climate.

California was an image of post-war opportunity, and then the crazies took over. A state bank would be influenced by the same types that brought the train to nowhere and, who could forget, CalPERS.

More headway could be made by slashing military/intelligence by 90% without risking actual defense. Not that gimme thats don’t need cut too but the obvious place to start is all things military.

Banking is the least of California’s worries. That’s Ellen’s shtick, of course, but it is pretty low within the taxon of California’s problems. Actually, there is probably no ‘solution’, because Californians are completely out of touch with reality. The best thing is to let it crash and burn, and then enjoy the fallout.

Doesn’t North Dakota also have a lot of oil, like Alaska?

Just follow immigration law and deport all illegals who are currently supported by the government tit. That should help the state finances immensely.