Washington Liberals

1. 
   Don Smith

   March 3, 2013, 6:26 am | #

   In How the Fed Could Fix the Economy… and Why It Hasn’t , Ellen Brown explains how “reversing recession has taken a backseat to resuscitating zombie banks, maintaining the feudal dominion of a private financial oligarchy:”

   Quantitative easing as practiced today is not designed to serve the real economy. It is designed to serve bankers who create money as debt and rent it out for a fee. The money power needs to be restored to the people and the government, but we need an executive and legislature willing to stand up to the banks. A popular movement could give them the backbone. In the meantime, states could set up their own banks, which could leverage the state’s massive capital and revenue base into credit for the local economy.

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