Tag Archives: Ellen Brown

The Battle of Cyprus – Banksters vs Workers

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Could This Happen Here?  The E.U. Wants To Take Money Out of Depositor’s Accounts Without Their Permission! These Are Thieving Banksters Who Should Be Escorted To The Nearest Prison.

Here’s a snip from Ellen Brown’s latest article chronicling the criminal activities of the European Union:

Ellen BrownIf these worries become really serious, . . . [s]mall savers will take their money out of banks and resort to household safes and a shotgun.

– Martin Hutchinson on the attempted EU raid on deposits in Cyprus banks

The deposit confiscation scheme has long been in the making. US depositors could be next . . . .

Retirement. (Photo: Loz Pycock / Flickr)On Tuesday, March 19, the national legislature of Cyprus overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout. Reuters called it “a stunning setback for the 17-nation currency bloc,” but it was a stunning victory for democracy. As Reuters quoted one 65-year-old pensioner, “The voice of the people was heard.”

The EU had warned that it would withhold €10 billion in bailout loans, and the European Central Bank (ECB) had threatened to end emergency lending assistance for distressed Cypriot banks, unless depositors – including small savers – shared the cost of the rescue. In the deal rejected by the legislature, a one-time levy on depositors would be required in return for a bailout of the banking system. Deposits below €100,000 would be subject to a 6.75% levy or “haircut”, while those over €100,000 would have been subject to a 9.99% “fine.”

Read the entire article:  Click Here

Click here for Ellen Brown’s web site.

Click here for Public Banking Institute

It’s The Interest Stupid!

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

Thursday, 08 November 2012 10:10 By Ellen Brown, Truthout | News Analysis

Shredded money and percentage Interest charges are a strongly regressive tax that the poor pay to the rich. A public banking system could realize savings up to 40 percent – allowing taxes to be cut, services increased and market stability created – with banks feeding the economy rather than feeding off it.

In the 2012 edition of Occupy Money released last week, Professor Margrit Kennedy writes that a stunning 35 percent to 40 percent of everything we buy goes to interest. This interest goes to bankers, financiers, and bondholders, who take a 35 percent to 40 percent cut of our GDP. That helps explain how wealth is systematically transferred from Main Street to Wall Street. The rich get progressively richer at the expense of the poor, not just because of “Wall Street greed,” but because of the inexorable mathematics of our private banking system.

This hidden tribute to the banks will come as a surprise to most people, who think that if they pay their credit card bills on time and don’t take out loans, they aren’t paying interest. This, says Dr. Kennedy, is not true.

To read the rest of this interesting article, go to:

http://www.opednews.com/populum/linkframe.php?linkid=158501

Our comment:  In ancient times, about 3,500 BC, our system of economics began as a debt system.  The ancient Sumerians, the founders of modern western civilization, invented it.  Interest was a common thing, used by tradesmen and business people.  Exact records were kept on baked clay tablets of these transactions.  But there was one difference: the Sumerians knew that simple mathematics showed that interest payments, creating money or credit out of thin air, would eventually take its toll on their society, and all the wealth would eventually end up in the hands of a few.  But they had a solution.  Every six decades or so they reset the counter, and all interest payment and debt was forgiven.  Everyone started over again.  This tradition carried down to the middle ages when the Catholic Church declared “Jubilees”, which were debt forgiveness and time to celebrate economic freedom.  The absolute greed of our 20th century rulers and bankers, who have decided to go for the whole pot of wealth come what may, and our ignorant “leaders” both in politics and religion, have ensured that we have arrived at the tipping point today.  Most of the real wealth in America is owned by a very few at the top.  How long will the serfs allow this to continue?