The Web of Debt

The author Ellen Brown has written a book called the Web of Debt, stating, like many others that the world is in the tight grip of a few wealthy mens conspiracy to control the world. Conspiracy or no conspiracy, there is no doubt the world is in serious trouble when it comes to the international economy, and the national economy in many countries. Just from simple reasoning one can ask some obvious questions.

Ben Franklin
Creative Commons License photo credit: nathanmac87

Governments have the ability to create money themselves, right? Well, that is what they have according to any country’s constitution. And the value of the money is ‘by decree’, meaning it is set by what the country sets it to be. So, WHY then, are countries in debt to one another and to the World Bank and the International Money Fund (which is in a large degree connected to America’s Federal Reserve, which in turn is NOT government controlled)?

Why? Why can’t the countries in trouble just print more money for themselves? Why do they have to lend from other countries? This is a question that will be answered with a lot of ‘international economics’ stuff if you ask any member of a government or economic ‘specialist’. The truth is that:

  • The “Federal” Reserve is a private corporation owned by an association of very large multinational banks. (Chapter 13)
  • The only money the US government creates are coins. Bills (Federal Reserve Notes) are created by the private Federal Reserve, which in turn lends them to the banks that in turn lend them to the government, businesses and individuals.
  • Physical currency (coins and dollar bills) make up less than 3 percent of the total world money supply. The other 97 percent are electronic, and all of this money was created by banks in the form of loans.
  • The banks lends new money, which did not exist until it was lent.
  • Income tax was instituted to persuade taxpayers to pay the interest due to the banks on the federal debt. Income tax would have been unnecessary if the money supply had been created by the government rather than borrowed from banks that created it .
  • Inflation is not caused by the government printing money. It is caused when banks expand the money supply with loans.
  • There is a way out of this mess: the government can take back the money-issuing power from the banks. That is, if we decide we need money at all.

In any case, it can not continue the way it does. All over the world now, governments are begging for more loans. Why? People think it is because the government has squandered the taxpayers money. This is obviously not the case. The reason is that the scheme the international banks have been playing is working: Taking control of the world governments and people through loans, waiting for them to default on their loans.

To give governments back their power to make their own money would probably help a lot. But do we need money at all? There is no money in nature, and with an abundant world with enough for everyone, which is what we really have when we allow it, no money is needed.

Giving governments back their sole right to print money might be the first step towards a resource based economy. It is at least one step much more imaginable today then a pure resource based economy. We need transition steps to get into RBE, and this can be one. The question is: How?

The answer is: Through increased public awareness. The more talk there is about this among people, the more media will pick it up, and the more it will spread. We are all affected by money every day. We need it to buy the necessities of life, and most of us are in debt to one ore more banks of credit companies. It is insane, and people are either paralyzed and lulled into the same old ‘going to work everyday’ or they are having a nagging feeling, but don’t know what to do about it.

Information is first, so spread this article through the button below and let everybody know. We have to stop this. Now.