$ Trillions to the 99%: Ellen Brown explains monetary & credit reform

The first 41 minutes of this video from Claremont Colleges’ Center for Process Studies’ conference, “Money-Creation in a Finite World,” is Ellen Brown’s presentation to explain how credit and monetary reform causes trillions of dollars in annual benefits for Americans (remainder of the video is panel and audience discussion).

The 99% must achieve factual command of the basic facts how money and credit are created, or else continue their debt-damned existence under an oligarchic and Robber Baron-era structure.

Monetary and credit reform can be understood with three simple areas of facts that are taught in basic economics and easily verified:

  1. The US does not have a money supply; we have its Orwellian opposite as a debt supply. This is because the US leading banks won legal right through passage of the 1913 Federal Reserve Act to have private banks and the Fed create debt for what we use as money, and then charge the 99% for its use.
  2. The policy choice of a debt supply compounded with interest causes ever-increasing aggregate debt that can never be repaid. It can’t be repaid because this is what we use for money. The US national debt now pushing $16 trillion has a gross annual interest payment over $400 billion a year; ~$4,000 per US family of $50,000 annual income (if your household earns $100,000, then your gross annual interest payment is ~$8,000 every year).
  3. Monetary reform creates debt-free money that extinguishes the debt (details here), and allows government to become employer of last resort for infrastructure investment (hard and soft). This creates full-employment, optimal infrastructure, and because infrastructure historically creates more value to the economy than cost, falling overall prices. Credit reform allows for public loans (interest directly pays for public goods/services) as another monetary tool for stable money supply.

Obviously, monetary and credit reform benefits 100% of humanity because it guarantees full employment, optimal infrastructure, and no government debt/interest cost. The current parasitic system benefits a 1% banking oligarchy that causes cyclical unemployment and poverty, decays infrastructure (especially as debt and interest costs accelerate as they do today), and damns the 99% to permanent and escalating debt.

Americans cannot be responsible citizens without understanding this fundamental structure of money.

Ellen Brown is probably the world’s leading writer to explain monetary and credit reform. Her articles are here; her work initiated the Public Banking Institute for 17 states at various stages for credit reform.

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  • Eric Sapp, in an article, entitled GOP Must Choose: Ayan Rand Or Jesus, published in The American Value Network, a Christian Right Group, on May 27, 2011 – had called upon American Christians that they must choose between Jesus and Ayan Rand. He quoted Rand saying “she is out to destroy the Church and Judeo-Christian morality. She argued that people had to choose between following her teachings or those of Christianity and other religious traditions. Rand said religion was “evil,” called the message of John 3:16 “monstrous,” argued that the weak are beyond love and undeserving of it, that loving your neighbor was immoral and impossible and that she was out to undermine the idea that charity was a moral duty and virtue“. ……


    • Carl Herman

      This is related to credit and monetary reform how?

      • The lesson is – keep away from Jewish Ayan Rand’s Wall Street dogma!

        • Carl Herman

          Facts can, and should, speak for themselves. All dogma should fall to the facts from any source, religious, political, or academic. The victory of The Enlightenment is for authority to have zero influence away from factual consideration.

  • John G.

    Ellen Brown is wrong; the cost of her ‘debt free’ money is inflation.

    Sure, the creation of money by the Federal Reserve is bad, as it, too, creates inflation.

    Ellen Brown just shifts the creator of inflation from the Federal Reserve to the Federal government.

    Money can be anything that is stable in quantity, amongst other properties. That is why difficult-to-mine gold has naturally served as money for 5,000 years.

    • Carl Herman

      John G fails to understand or mention just three points I number to make monetary reform easy to understand (and document).

      John G outright lies that the Fed creates money; they create debt, a national “debt supply” we can never escape.

      John G also lies that money directly paying for infrastructure is inflationary. If the investment returns more to the economy than its cost, PRICES FALL.

      John G also shows no evidence of watching her presentation.

      John G ignores the key that money supply work in concert with economic productivity, and that linking the value to gold is a dangerous and unnecessary variable. Look at the wildly fluctuating price of gold. To keep the money supply stable, you need transparency to do so, not link it to another variable.

  • john
  • Tom

    Interesting that you would praise Ellen Brown. I have yet to run across a single “hard money” advocate, or “end the Feb” scholar, author or researcher (the typical place to find good info on monetary reform and ending the Fed) that thinks Ellen Brown is more than a hack. I have read most of the info on her website, and I have to agree. She is a populist reformer, not someone who understands one iota of monetary theory. Von Mises and Hayek would laugh her out of the room.

    Sorry, you guys post some great stuff. But Ellen Brown? Get real.

    • Carl Herman

      Interesting you provide no documentation and only ad hominem attack; that makes you the hack, Tom.

      I just explained monetary reform in three points. Ellen’s video walks people through credit reform. And you, Tom, explain nothing.

  • Nick

    Interesting, an upgrade over the current system but not as good as a government-free money supply. Governments are invariably co-opted, we need money defined by private contracts not by control freaks.

    • Carl Herman

      Nick, if you want people to know what you’re talking about, you need to explain and document about contracts.

      Also… what, are you saying human beings are too freaking stupid to construct a transparent and accountable money supply? I disagree. We did get co-opted, yes; and what Occupy is gaining is the demand for facts over lying sacks of spin.

      We’ll see as we move forward.

  • Dave

    Carl legit blog, keep it coming

    Wanted to know your thoughts on monetary reformer Bill Still for President and his idea about splitting the money power between federal, state, and local gov’t:


    • Carl Herman

      Bill Still has done excellent work for years to expose the parasitic system we have: see “The Money Masters” and “Secret of Oz” documentaries.

      I support experimentation for our discovery of what works best with money and credit. When we have honest cost-benefit analyses, we can have good faith efforts.

  • Debt acceleration as taught by Minsky and Keen causes havoc on main street. Debt that actually blast open demand is bad. Ellen Brown believes banks should be restrained from this behavior and so do I.