Time for a New Theory of Money by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
October 29, 2010

The reason our financial system has routinely gotten into trouble, with periodic waves of depression like the one we’re battling now, may be due to a flawed perception not just of the roles of banking and credit but of the nature of money itself. In our economic adolescence, we have regarded money as a “thing”—something independent of the relationship it facilitates. But today there is no gold or silver backing our money. Instead, it’s created by banks when they make loans (that includes Federal Reserve Notes or dollar bills, which are created by the Federal Reserve, a privately-owned banking corporation, and lent into the economy). Virtually all money today originates as credit, or debt, which is simply a legal agreement to pay in the future.

Continue reading

Countdown: War Crimes + The Near Miss on Complete Financial Collapse + Leahy + Kanjorski

Dandelion Salad

firedoglake

Jonathan Turley discusses Obama administration prosecutions of Bush and Co. war crimes

Vodpod videos no longer available.

***

heathr456

The Near Miss on Complete Financial Collapse
Continue reading