Banking on the People: Democratizing Money in the Digital Age

Clear explanation of Hamiltonian economics incorporates Bitcoin into the mix as an acceptable and fair medium of exchange. Xi not America uses this system to lift millions out of poverty.

I have read many books on Money and Banking over the last 30 plus years, and this is the most creative and innovative book I have read. Ellen Brown has come up with many real solutions that can take the money power away from the private bankers, and give it back to the public where the Founders originally intended it to be.By Federalizing the Central Bank and giving the Treasury the power to issue the currency, the Debt Money systems comes to an end! No longer will the Treasury have to issue interest paying Bonds to raise money to operate the Government.The Constitution in Article I, Section 8, Clause 5 says the Congress shall have the Power to coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.To coin is used as a verb. At the time the Constitution was written, to coin money meant to create or to make money. Today’s Dictionary defines to coin as a verb meaning to make or to invent.In 1871 (Knox vs. Lee) the Supreme Court ruled that the Government has the legal right to issue money (Greenbacks) debt free. This was challenged in 1872 (Parker vs. Davis) and in 1884 (Julliard vs. Greenman), and the Supreme Court again ruled that the Government has the legal right to issue the currency. The legal right of the Government to issue the currency has been considered “settled law” since 1871.The Treasury can then pay off the $23 Trillion National Debt with US Treasury dollars in electronic form as all the bonds come due. All interest would be paid in US Treasury dollars, debt free. Over the next 30 years the entire National Debt will be paid off, freeing the next generation of a National Debt.I highly recommend you read this book to learn how the Money and Banking system can be reformed to operate in the 21st Century!

Very informative. Difficult to grasp all that is presented. It leaves me with more questions than answers which frustrates me. Nonetheless, worth the money. I would have given 5 stars if it was easier for the layperson to fully inderstand.Jeff M.

Ellen Brown has forthrightly highlighted the need for basic banking services to be restored to their rightful sphere: in the public domain. In her book "Banking on the People", she goes into a fair amount of detail about why the current financial system is untenable, and how and why a new system of publicly-based services would work. Also included are some basic expositions of different monetary systems which have come the fore in the last few decades or so, with their pros and cons. One of my favorite sections is a discussion of allowing the public to open accounts directly with the Federal Reserve (Ch 13, mainly). I believe as she does that this would prove hugely popular with the public, and do more to stimulate the economy than "...merely tampering with interest rates or propping up Wall Street...".This is a great read that presents fundamental ideas of the economy and finance in an understandable manner, that are essential for every American (and people around the world, too) to know - and for which to advocate. Ms. Brown leads all chapters with relevant quotations from historical figures, and among the best are from Keynes: "The difficulty lies not in the new ideas, but in escaping from the old ones", and from R. Buckminster Fuller: "You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete."

Sincce 1948, when the banks set up the works to keep the common man poor. They set up" Accrual Accounting" which lets corporations class people as an asset, then write off them use and worn out or dead. Zero accounting began. Before then, there was no "0" on the fooks, only nine numbers. Since then, the buck stops in their pockets!

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." Henry Ford The pitchforks are not yet out in force but regular people are angry and afraid. Unfortunately, much of the populist anger has been misdirected toward immigrants, minorities, and other powerless scapegoats while the real culprits grow richer and more powerful. Ellen Brown has always been a powerful voice for public banking but this current work is a fabulous update which extends the focus to digital currencies and introduces non-technical readers to modern monetary theory. We are entering a new era with new possibilities which demand different ways of thinking, organizing, and working which create and expand the emergence of abundance. We have the tools to realize abundance and distribute it fairly. We need to destroy some strongly held erroneous assumptions if we hope to do so. This book is a good place for the angry and fearful populists of today to discover the assumptions responsible for their plight.

Brown writes clearly and explains a complex system very well. Parts of it were a little beyond me, but the last few chapters were disturbingly clear - and they explain why America needs to change its complex and vulnerable system of banking before it’s too late! Ellen Brown suggests public banking as the alternative to private banking and clearly states her reasons, leaving the reader with some hope!There are summaries at the end of every chapter and a banking history at the end of the book which I found very useful.

If we were to follow just one of Ellen Brown's suggestions, creating postal banks and allowing all individuals, businesses, and local governments the same privileges that today only private banks have, we would have a much fairer economic system. And we would save the USPS!

As usual, Ellen Brown's writing is engaging, clear, succinct, and compellingly-written. Her research, references, and footnotes are incredible, and provide a wealth of additional resources to further one's knowledge about the subject. Anyone interested in changing our banking and financial system for the better should read this book.