The Web of Debt: The Shocking Truth About Our Money System And How We Can Break Free (Revised and Updated) Paperback – 15 Jan 2008
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"One of the most important books you will ever read.... as thrilling as any Tom Clancy novel, except that this book is true... to have an understanding of the monetary mess we are in, this is an excellent historical overview with some truly elegant and ingenious ideas about correcting the problems that have plagued our planet for millennia." -- John Tiffany "American Free Press" --This text refers to an alternate Paperback edition.
From the Back Cover
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"
Literacy on the topic of money is at an all-time low. This book is tremendously important not only in its presentation, but by drawing attention to an age-old topic that should have a major presence in the public mind.
- Benjamin Gisin, Author of "Farmers and Ranchers Guide to Credit," publisher of "Touch the Soil" magazine, and a senior loan officer for a top 10 bank --This text refers to an out of print or unavailable edition of this title.
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Top Customer Reviews
Although The Web of Debt is mainly about the US banking system and the US dollar, its message that the money supply is in the hands of a private banking cartel and is not in the hands of elected governments is applicable to many countries. It shows how money is created from nothing and then lent to governments at interest, for no good reason other than the historical usurping of this all important function by powerful and ambitious men for their own private gain. Absurdly, governments must then tax their citizens to pay interest to the private bankers, foregoing the obvious alternative of issuing debt-free money themselves.Read more ›
Now to the point of this review, which is not so much a reflection on the substance of this work, as a heads up regarding the new 5th (January 2012) Edition. A university librarian once told me that publishers generally only bring out a new edition of a work if there is at least 10% new content. That is not the case with the latest `Web of Debt'. I have not been able to discern any difference at all between the new edition and the previous 4th (March 2010) edition. The covers and blurb are the same, the chapter headings, the total number of pages and the pagination are the same. Even the `Author's Note to the Fifth Revised Edition' is a word for word copy of the `Author's Note to the Fourth Revised Edition'. It may be that if I read through the entire 544 pages of both editions in tandem, I might find some subtle revision or correction. Which I suspect is unlikely to be anything significant enough to shell out for. Do correct me if I am wrong!
I got my new copy to keep abreast of Ellen Brown's latest thinking in this area, but I was disappointed by this apparently pointless new edition. Yet it wasn't really a waste of cash - now I can help spread the word by passing one on. Either one -they're equally relevant.
However, Hodgson Brown's grasp of history and economics is a bit shaky. Various minor historical howlers (William and Mary coming to English throne when "Duke of York" dies, etc.) make me a bit leery of accepting statements she makes when she is talking about areas on which I am less knowledgeable. Her understanding of economics is very vague and hazy: at points where I didn't already know what she was trying to explain, such as with the medieval tally system, she was very hard to follow. I suspect that someone with only a little economics background would not gain much real understanding from this. I hate to criticise a 450-page book for excessive brevity, but she does skim over many topics that really need to be handled in a great more depth.
The economic theory she is propounding is similar to that more rigorously put forward by Michael Rowbotham, that fractional reserve banking involves banks creating money out of nothing, and that the money returns to banks as profit. It suffers of course from the same potential defects, for example, that inflation and default could potentially eat away all those profits.
Her book is far stronger when it leaves general theory and history, and gets on to the intricate details of the current crisis.Read more ›
Most Recent Customer Reviews
This is an invaluable historical account of the ongoing battle between those who control the monetary system and the relatively small number of people who actually understand the... Read morePublished 10 months ago by James Skinner
A must read for anyone who wants to understand how we got where we are with our economies and the truth about why it has happened.Published 19 months ago by Salator
Eye-opening, educational, very well written.
It's downright scary how the debt system works, how so few control the financial welfare of so many, and how little we... Read more
The Federal Reserve is basically the cause of all our problems: boon and bust, inflation, financial crises, hunger, armaments spending, wars, lack of sustainable energy policy and... Read morePublished on 1 Jan. 2014 by Regula Stöcki
If you believe a) You live in a democracy or b) Your country enjoys a free press or b) Economic growth is inevitable or if, like me, you have wondered for ages 'Where does money... Read morePublished on 23 Oct. 2013 by The Doctor
It is the poor for are responsible for poverty.
Being nice is cheap, looking nice is very expensive, be nice and visit the bank as often as you can and the shops to make you... Read more
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