The status of the dollar as global reserve currency is being threatened by new international monetary powerhouses and the limitations of its debt-based control. This week, Ellen speaks with Mark Pash of the Center for Progressive Economics, who believes that issuance of currency as debt has outlived its usefulness and should be replaced with a credit-based model that covers basic human needs prior to personal accumulation of additional affluence. Ellen also speaks with Mike Krauss on petro-dollar politics upending America's hold on global trade as the reserve currency. On the Public Banking Report, co-host Walt McRee talks with John Leonard of the PA Project about new public banking initiatives in one of America's abandoned industrial centers, western PA, and the promise that public banking agencies may offer to reviving the economy that region.
An Electoral Lock-Out of Political Challengers Helps Guarantee Wall Street
The major political parties have effectively locked-out any serious
democratic challengers to their control on creation of public policy. This
week, Green Party candidate for CA Controller Laura Wells talks with Ellen
Brown (herself a Green running for CA State Treasurer) about the
increasingly difficult path required of challenger candidates to even get
their voices heard. They discuss Governor Jerry Brown's proposed
constitutionally-mandated rainy fund that would guarantee the state's
commitment to pay Wall Street at the expense of its own needs, the subject
of Ellen's latest article ("Robbing Main Street to Prop Up Wall Street: Why Jerry Brown's Rainy Day Fund Is a Bad Idea for California")
On the Public Banking Report, co-host Walt McRee talks with Lauren Steiner
about a new initiative underway in Los Angeles to create a public
partnership bank even as a new report shows that the city pays significantly
more to Wall Street for fees and interest than it does on its own needs --
to the tune of over ¾ of a billion dollars!