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Friday, October 31, 2008

Book Review – Web of Debt

Given that the current system has failed, I feel we should regard Web of Debt by Ellen Brown as our blueprint and bible for economic justice and salvation. If crisis prevents you from reading the whole book, you can read the last chapter ("Over the Rainbow"), or perhaps the last section ("Vanquishing the Debt Spider") to get a summary of the recommended action items. If the economy collapses before we can solve the problem politically, chapter 36, ("The Community Currency Movement") offers some ideas on how to fight back.

In a nutshell, the solution to our credit crisis is to simply reclaim our sovereign right as a free nation to issue our own money. Another important piece of the puzzle is to establish a "basket of commodities" standard index, somewhat like the Consumer Price Index, as a yardstick for exchanging national currencies. This helps protect third-world countries from short-selling and other manipulations which can force down the prices of their goods and services. Our enemy is the private banking cartel. If JPMorgan Chase and Citibank are insolvent, they belong in receivership.


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