Finance Capitalists Poised to Raid Our Bank Accounts

You might look at this headline as some kind of wild, leftist conspiracy theory or a scam by some investment firm. But the author is Ellen Brown who is a very reputable economist and advocate of public banking. Her article is about something called a “bail-in”. That means that if the banks cannot pay their debts, they have the legal right to raid the depositors’ accounts to pay their debts. Is the solution to pull your money out now? She says it may be too late.

What we need so badly in this country is a financial activist movement to decide what to do with our money together.

About Bruce Lerro

Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his five books: "From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning", "Power in Eden: The Emergence of Gender Hierarchies in the Ancient World" (co-authored with Christopher Chase-Dunn), "Social Change: Globalization from the Stone Age to the Present", "Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized", and "The Magickal Enchantment of Materialism: Why Marxists Need Neopaganism". He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia, WA.

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