Review of the Book: Web of Debt

Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free by Ellen Brown, J.D.

It took me a while to read this because it is packed with good information.

Web of Debt is an excellent insight into America's banking and monetary system from colonial times to today. Our money system is not what we have been led to believe. The creation of money has been 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 the private 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.

Web of Debt unravels the deception and presents a crystal clear picture of the financial abyss towards which we are heading. Then it explores a workable alternative, one that was tested in colonial America and is grounded in the best of American economic thought, including the writings of Benjamin Franklin, Thomas Jefferson and Abraham Lincoln.

The State of North Dakota has a state-owned bank which has solved many of the financial shenanigans plagued by other banks. The idea of states owning banks is explored in detail.