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Web of Debt: The Truth About Our Money System

As our dollar and debt based economy teeters on the brink of serious trouble - and as our lives teeter with the economy - it seems of great importance to at least understand why the economy has got into such a bind and how we could possibly get out of this. We won't have any change here unless we ourselves understand what's happening. Relying on the economic experts is what got us in trouble in the first place. So here comes an important book that brings some light to the matter.


Web of Debt: The Shocking Truth About Our Money System -- The Sleight of Hand That Has Trapped Us in Debt and How We Can Break Free

Find the book on Amazon

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. Web of Debt unravels the deception 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.

About the Author
Ellen Brown, J.D., developed her research skills as an attorney practicing civil litigation in Los Angeles. In Web of Debt, her latest book, she turns those skills to an analysis of the Federal Reserve and "the money trust." She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back.

Ellen Brown has applied her training as a litigating attorney, researcher and writer to the monetary field, unearthing facts that even the majority of banking and financial experts ignore: ranging from the privatization of money creation, to the Plunge Protection Team, to the Federal Reserve's "Helicopter Money." Read it; you'll get information you need in order to understand what is going on in our financial markets today. - Bernard Lietaer, former European central banker, author of "The Future of Money" and "Of Human Wealth"

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Here are some of the reviews by readers of the book to be found on the Amazon.com site:

Follow the Yellow Brick Road... to comprehend a financial system on the brink of collapse, September 16, 2007 By GK (Bay Area, CA)

This review is from: Web of Debt: The Shocking Truth About Our Money System -- The Sleight of Hand That Has Trapped Us in Debt and How We Can Break Free (Paperback)

I have been researching this topic myself for four or five years now and am familiar with almost every other book in this genre, and I can unequivocally say that this is now the definitive work on the world's financial and banking system, the history of money and power in Western civilization, and the dire prognosis for our economy and our personal freedoms, in general, as a result. It is vastly superior to "The Creature from Jekyll Island", to compare it to one other fine book on the subject that is now outdated, both in terms of its complete historical coverage, as well as a completely up to date perspective on recent financial history and a deeply insightful analysis of our current debt crisis, why it was let out of control, and who would benefit from its ultimate unwinding. Quite frankly, looking back four to five years from now, this could be the most profound non-fiction work of our times.

Robert Hemphill, Credit Manager for the Federal Reserve Bank in Atlanta, when speaking on the same topic as this book, stated, "It is the most important subject intelligent persons can investigate and reflect upon." I couldn't agree more, and even encourage many unintelligent persons to give it a go. The mechanics of money and finance have a profound effect on every person's life and well being, and is inextricably linked to the fabric of our society and our freedom. Yet it is almost completely ignored and poorly understood by the common man. As Henry Ford said, "It is well that the people of this nation do not understand our banking and monetary system, for if they did, I believe there would be revolution before tomorrow morning." It's time we all started to understand what's been going on and how it will affect our immediate future.

Ellen Hodgson Brown does a remarkable job at making this subject both easily understandable and richly entertaining while not pulling any of the sordid details or facts. It's impressive in its clarity, fascinating to read, and educational for anyone who might already think they fully understand the system. Unknown to most, The Wizard of Oz was written as a parable for our monetary system. Ms. Brown takes us down that yellow brick road and shows us that the reason L. Frank Baum's timeless story resonates with us so deeply is that our own world works much the same way as the Land of Oz, with a parallel cast of characters. It lies within our power, and in this book, to find our own ruby/silver slippers, thus avoiding the crisis to find our way back home to the real utopia.

Astonishing, Infuriating, Terrifying, April 22, 2008 By Charles Curtis (Jackman, Maine)

This book is just fantastic. It's worth reading for the history of the monetary system alone. No matter what the lone negative reviewer so far (T. Anderson) here may say, any flaws are mere quibbles. I have multiple degrees in the humanities, and have taken courses in economics, and have read all the big guns in the canon (Smith, Riccardo, Malthus, Marx, Marshall, Keynes, Freidman, etc, etc.) but have never read anything quite like this before.

All the great economists are in the end finally propagandists for their particular world views. We are rarely reminded that in essential ways their craft is rooted in that dirty realm: metaphysics. The economists would like us all to believe that what they do is science, that it is a solidly rooted empirical craft. But the fact is that some of the most fundamental aspects of the discipline are rooted in that oftentimes most irrational, insubstantial and fleeting of things: human desire.

Money itself is the sublime exemplar of this fact. This odd measure of value. It is so ubiquitous in our culture, so fundamental to how we all live, yet we rarely sit and contemplate what it really "is." Where it comes from, what it does, and who (in the final analysis) really controls it. Most of us spend most of our waking hours chasing it, without really understanding what it really is we are doing.

Ellen Brown has given us all an opportunity to change that. Again, no matter that there are some few factual and perhaps conceptual flaws here. There's still a gluttonous orgy of food for thought in these pages. Starting with a brilliant expose of the origin of the banking system, and its logic, she flays the monetary system and lays its anatomy out for examination. She gets you to think about what the banks are really doing when they loan.. what exactly is happening when they extend us those oh so seductive lines of revolving credit; what the nature of your mortgage really is.

She leads us from the Renaissance gold merchants' creation of the nascent capitalist banking system, through the 18th & 19th century struggles over control of the money supply, all the way through to an analysis of the current mortgage crisis. She warns us what may yet be in store for us if and when Freddie Mac finally defaults on its 700 billion in bond obligations.

MSNBC, the Wall Street Journal, Kiplinger Report and Economist will never explain any of this to you. I think we all can intuit why that is. You owe yourself this education. This information ought to be part of our daily political discourse, and a part of every high school education. Again, you gotta wonder why it is not.

Final Admonition: Acquire & Read this Book. You will not regret it.

By D. Thorin (Los Angeles)

This review is from: Web of Debt: The Shocking Truth About Our Money System -- The Sleight of Hand That Has Trapped Us in Debt and How We Can Break Free (Paperback)

This is simply the most thorough, researched, and up to date book of its kind. I would call it essential to have, as the national and global economic situation is entering right now into the dramatic and tumultuous throes of the end of the 100 year or more Ponzi scheme that IS our national economy. There have been terrific books by Griffin and Mullins and quite a few others describing the origins of the monetary system that has brought us to this point of collapse and ruin; but they are 20 to 30 years old, and do not include and explain the latest machinations of the Debt/Money machine, such as derivitives, hedge funds, naked short selling, plunge protection teams, the petro dollar, the housing bubble and more. And all is explained, despite the book's historical breadth and up to date detail, in a story line narrative fashion that is personable and enjoyable, with a great sense of discovery.

The best part is the optimistic presentation of what a sane and sensible money system might look like, that is free of deception and theft from hidden corporate masters. And the solution is not a simple reversion to a sort of fundamentalist gold approach.... The subject of gold is actually explored in all of its history of past abuse and control by the same sort of masters we now have, as well as the current pitfalls we would face. Solutions are based, however, upon the ideas and practices of some of America's founders, and on workable examples based upon what a community and nation' real wealth consists of.

Can be read as a narrative, or you can jump in on any chapter and clarify a multitude of mysteries about just what levers are being pulled by the guys behind the curtain. I think the author goes in the right direction for a way out, but the book begs for a sequel dealing with the detailed design of such a plan, so it, too, does not become a trap a century later.

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OK, Great book; seen it before on other esteemed websites, but Sepp's blessing may push me over the edge into getting it.

That said, I have to note that "private money" is NOT the core of the problem. One must dig a bit deeper, I believe.

If we look at our (US) private money..it's not private money at all...it may be under private control (the Fed) but there are severe constraints from the Government disallowing citizens to make other choices.

We have a choice of currencies in the world (and a workable foreign exchange system), why not at least _allow_ a range of currencies here domestically? Why can't I buy things in Walmart dollars, Amazon dollars, gold, and locally-minted farmer's market dollars if I wish? Why _only_ this crappy fiat Federal Reserve Note?

My point, in a sentence: attacking the PRIVATE nature of money is feeding right into the designs of the fiat moneychangers. They want you to use their money, and no other. And this is backed up the FEDERAL law. And _that_, in my estimation, is the root of the problem: the Federal law controlling the money supply in deep dark cahoots with the private cartelers of the Federal Reserve.

Shine a light on money production; allow competing currencies; remove the Iron Hand of Federal Law from private currency, and you'd have a more open, flexible, resilient, and creative system.

Good point, Ross.

Where government fiat falls down (or becomes outright nasty) is the government mandated monopoly for a privately 'coined' (by the banks) currency to the exclusion of all others.

Why not be able to pay in Walmart or Amazon (or your choice of whatever) dollars.

Freedom of choice in monetary affairs!

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