Debt: the First 5000 Years – a new book about an old problem

From David Graeber, the author: ============= Hello, friendly strangers, I’m delighted to announce my new book…. ——————————————— DEBT: THE FIRST 5000 YEARS ——————————————— is finally, finally out! http://www.amazon.co.uk/Debt-First-5-000-Years/dp/1933633867 This is a work of scholarship, and politically engaged, but it’s also an attempt to break out of the usual academic and activist ghettoes, and I wrote [...]

Five Alternatives to the Federal Reserve: why the sun will still rise without the Federal Reserve system

This article is a neat summary of alternatives to ‘debt based’ money, created ‘from thin air’, and unscrupulously ‘sold’ as ‘money’, as if it were Cash, minted by Nation States, when, in fact, it comes from private bank(st)ers.  

UK Uncut: the cuts are necessary? The cuts are fair? We are all in this together???

The UK Uncut initiative is a wonderful expression of the Signs of Our Times: it began with a Twitter hashtag #ukuncut what manifested as a sit-in of 70 people in a Vodafone store in London and spread across the country in no uncertain way. Spread the word, join in actions, or at least smile! One [...]

Why Spending Cuts are another variation of “institutionalised white collar crime”

Economist James K Galbraith gave a presentation to the Senate Judiciary Committee in which he speaks of “financial fraud” as the cause for the “crisis”. But that’s not enough: Central Bankers create “currency” as “public debt” from thin air, charge interest to the Government (in the UK as much as the military budget) and call [...]

USA: The Debtor Nation

Banks are responsible for money as debt, governmetns are responsible for money as sovereign debt and the budget deficit which fuels the increase of “credit money” and the decrease of Cash in the money supply. How this affects the dollar as the reserve currency is not covered by this article, written by James Turk, an [...]

Systemic Wall Street fraud

This is one of Brasscheck TV’s excellent videos: the interview with the author of the book The best way to rob a bank is to own one. And it explains how fraud is the basis for bad loans and ultimately “the crisis”.

Cash goes round and round

It is August. In a small town on the South Coast of France, holiday season is in full swing, but it is raining so there is not too much business happening. Everyone is heavily in debt. Luckily, a rich Russian tourist arrives in the foyer of the small local hotel. He asks for a room [...]

Borrowing from Peter to Pay Paul

This latest article by Dr. Ellen Brown explains “The Wall Street Ponzi Scheme called Fractional Reserve Banking”. It’s one of the best foundations to the waking up process of disillusionment that is required. Praised be the net and the web!

Bailiffs get power to use force on debtors

This article on TIMESONLINE on Dec. 21, 2008 is shocking, as far as I am concerned. 187 comments express the sentiments of ‘ordinary taxpayers’. How can bailout money be justified while bailiffs are being paid to be violent?

4 of the Most Important Quotes in Economics

I found these quotes on the Money as Wealth blog: 1. “…the actual creation of money always involves the extension of credit by private commercial banks.” – Russell L. Munk, Assistant General Counsel, Department of the Treasury 2. “Money is created when loans are issued and debts incurred; money is extinguished when loans are repaid.” [...]