Arizonans for a New Economy

08/21/2026

Pres. Obama speaks about defending democracy.

08/19/2026

If you are wondering what the US Treasury uses to by back its own bonds, the answer is proceeds from the sale of new bonds, notes and tax revenues. A bank larceny crime is called "check kiting," that is, perhaps now not possible due to instantaneous electronic debiting. What it once was when someone presented a check for cash at a bank teller window then went to the bank it was drawn upon and deposited a check from another institution that was then presented with a check for deposit from the first institution.
It's sort of like juggling balls of money, they're all always in the air and always in the hand.
This kind of ponzi scheme is unusual for such a large institution as the Treasury but this flim flam is necessary when the market for US debt is exhausted.
We also read that Japan was poised to redeem some of its $1.2T in US Treasuries to shore up its sliding yen. This is what foreign reserve currency is for. But Treasury stepped in and redeemed billions in Euro bonds and bought some $36.5B worth of yen. (See comment below for link). It is not clear how many dollars Japan's central bank used and how much Treasury did.
Once again we see a flim flam operation by the US Treasury to prevent a possible run on its bonds. The reckoning on US debt is coming, it's just a matter of time. This time, there will be no cavalry.

Government bond yields fell and stocks jumped on a move by the Treasury Department to double the amount of debt that it can buy back from investors.

08/18/2026

Robert Reich schools Treasury Secretary Scott Bessent on the K shaped economy. On the wealth divide it is interesting to read that the top 1% of Americans own 29.2% of American wealth while the bottom 50% own 5.3%.

But you're the one with power, so your error is dangerous

08/18/2026

The US debt reached $40T, ahead of schedule. Investors are risk averse to long Treasuries as the latest Treasury auction had to offer a 5.13% yield to attract buyers. This is a reflection of the reckless Federal deficit spending that saw a $2T deficit in FY 2026. Every dollar of the deficit has to be financed with US Treasury bonds. To complicate matters for investors and the general economy, we have a glut of cash. This means selling off Treasuries for cash increases the money supply, pushing the dollar's value down i.e. "inflation". This also means the Federal Reserve cannot rescue the Treasury Bonds by buying them (quantitative easing) because it must buy them with new dollars.
The yield spike also has implications for banks because they are holding US Treasuries as reserves on their loans. The yield spike devalues the bonds they own. Presently, there is virtually no margin requirements on large US banks. They are grossly overextended, as much as 30X. If depositors get skittish and run on their accounts, the banks will be hard pressed to pay them, triggering insolvency. The Fed cannot rescue them with new money as mentioned earlier.
US 30-year yields hit highest level since 2007 as war, oil worries fester -

U.S. 30-year Treasury yields rose to their highest level since 2007 on Tuesday as stalled talks to end the U.S.-Iran ‌war and worries of an imminent escalation sent oil prices above $90 a barrel, fanning fears of inflation and jolting markets.

07/24/2026

Here is a useful infographic to show the differences between various financial institutions:

download infographic U.S. Public Banks, Banks, and NonBanks At-A-Glance: How Public Banks Excel public banks are unmatched for improving local economies and benefiting the public Politicians often ask, “Why do we need public banks? We already have institutions that make loans into the local econom...

05/30/2026

Tucson, then the whole State of Arizona has this experience although the Republican-controlled State Legislature, the chambers of commerce and such business groups like the Arizona Restauranteurs try to hide it. Higher wages in worker paychecks stimulate economic growth and fill tax coffers.

In the fall of 2011, one of us gave a presentation on the idea of a $15 minimum wage to a gathering of the Democracy Alliance—one of the most influential networks of left-leaning donors and advocates in the country. It did not go well. Heads shook. Some people in the audience laughed out loud. Lat...

05/17/2026

What is "neo-liberalism" and what does it have to do with the war against Iraq and the 2008 financial crash? Read all about it in Thom Hartman's essay here:

Your weekly excerpt from one of my books. This week: "The Hidden History of Neoliberalism: How Reaganism Gutted America and How to Restore Its Greatness"

05/13/2026

https://ellenbrown.com/2026/04/11/all-wars-are-bankers-wars-iran-and-the-bankers-endgame/

“The powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each coun…

05/01/2026

I saw his longest speech. It is highly informative about the origins and operations of the Bank of North Dakota, the nations only state public bsnk.

Don Morgan, President and CEO of the highly successful Bank of North Dakota, discusses the structure, operation, checks and balances, the business lines and verticals with examples, and brings everything together with a clear and engaging overview of the strategy, key factors, and purpose behind the State-owned bank...in 5 easy to understand videos sponsored by AFLEP of NM You can find the entire series of 5 videos with a 6th for Q and A free online here:

http://publidbankinginstitute.org/bank-of-north-dakota

05/01/2026

Federal Reserve Chairman Jerome Powell states what was generally accepted prior to the Trump circus. At the very least, it has to be free from political interference.
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