This Ellen Brown - Public Banking ideology always sounded very good to me, however, I called in to a radio show many years ago and asked the guest, Ellen Brown, would fractional reserved banking stop with the establishment of the kind of public bank. And, if I understood her reply correctly, it was something like ...' of no, there will still be fractional reserve banking with public banking because that is the way that banks do credit with each other.' That is wholly unsatisfactory answer to me because fractional reserve banking is banks lending out money that they do not have and thus creating money out of nothing, just like the Federal Reserve System.

In any event, this video and transcript is a good easy basic education in banking and finance and government and economics.

30:37 video runtime

Note the link to the TRANSCRIPT is available for this fascinating conversation


Debt And Power - With Michael Hudson
•Mar 19, 2020
Walk The World
35.5K subscribers
In this post we discuss debt in the current context, and consider where the very high levels of debt will take us. And as importantly, who wins and who loses.

Michael Hudson is an American economist, Professor of Economics, Author of Killing the Host and “and forgive them their debts,” among many earlier books. Many articles and interviews are available on