Exploding The Myths About Money

http://www.webofdebt.com/

Our money system is not what we have been led to believe. The creation of money has been "privatized," or taken over by a private money cartel. Except for coins, all of our money is now created as loans advanced by private banking institutions — including the private Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices — and robbing you of the value of your money.

Not only is virtually the entire money supply created privately by banks, but a mere handful of very big banks is responsible for a massive investment scheme known as "derivatives," which now tallies in at hundreds of trillions of dollars. The banking system has been contrived so that these big banks always get bailed out by the taxpayers from their risky ventures, but the scheme has reached its mathematical limits. There isn't enough money in the entire global economy to bail out the banks from a massive derivatives default today. When the investors realize that the "insurance" against catastrophe that they have purchased in the form of derivatives is worthless, they are liable to jump ship and bring the whole shaky edifice crashing down.

Web of Debt unravels the deceptions in our money scheme and presents a crystal clear picture of the financial abyss towards which we are heading. Then it explores a workable alternative, one that was tested in colonial America and is grounded in the best of American economic thought, including the writings of Benjamin Franklin, Thomas Jefferson and Abraham Lincoln. If you care about financial security, your own or the nation's, you should read this book.

MORE at the link --

Is this another gold bug?

It's worth the surf.

by and large, the people who seem to hate our monetary system the most are the ignorant libertarians and the ULTRA-wealthy. They've hated it ever since FDR took us off the gold standard and by doing so helped eliminate full-scale depressions from our economy. So I tend to view any works like this with a high degree of suspicion.

:eyes:

yeah yeah -- everyone who hates capitalism is a whackjob. yadda yadda yadda rinse repeat...

And capitalism certainly has its flaws. The gold standard exacerbated those flaws tremendously. I'm just saying, the most vocal critics of our current system tend to be the ultra-right-wing ideologues and their wealthy puppet masters. Be careful about who is trying to manipulate you.

The hate site 'American Free Press' loves the book being plugged....

Good to see posts from you. :)

So there goes THAT argument.

Hartman has never impressed me too much, and hardly washes the thing clean in the Blood of the Lamb....

The creation of money has been "privatized," or taken over by a private money cartel. Except for coins, all of our money is now created as loans advanced by private banking institutions — including the private Federal Reserve.

It's not really that simple. The Fed "creates" money by buying up, with cash, Federal securities. The bank that sells the securities can now use this money for new loans. Here's a much more complete explanation.

To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices — and robbing you of the value of your money

Additional money is not necessarily inflationary. If the ratio of the money supply to GDP remains constant, then as long as the GDP grows along with the money supply, there is no inflation even though there is an increase in the supply of money. When someone takes out a loan, it is usually to engage in some form of capital creating activity. Of course, in the real world, there is some inflation; but it is usually less than the increase in the money supply.