Web of Debt: New Book Calls for Nationalized Banking
A new book by Ellen Hodgson Brown, Web of Debt: The Shocking Truth about Our Money System and How We Can Break Free, explores why the private banking system in the US is causing our current economic troubles, including massive debt to private banks. Samples of the book are available at www.webofdebt.com.
From the website: “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 theprivate 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.”
We have been covering this issue on Atlanta Progressive Blog for some time. For a related video presentation, check out “Money as Debt” and “Money Masters” on Youtube.com.