The WEB OF DEBT FORUM is now open for discussing and debating money and economic reform issues. We had well over 1000 comments on the MONEY REFORM THINK TANK: JOIN IN THE DEBATE page, and that was just too long and unweildly to manage. Then we had over 100 on the COALITION FOR JUSTICE IN BANKING page. We hope those who were posting to those columns will find the bulletin board style of forums easier to navigate.
We welcome all those who have ideas to brainstorm with us on the forum. Guests can read the forum posts. Those who register can post. Your proposals, suggestions and comments are invited. The comments section below was intended to be closed. Further comments should be addressed to the forum at WEB OF DEBT FORUM.
Thanks, Admin
I agree with Bucky Fuller about developing a whole new model as it relates to monetary reform. I find it difficult to explain this problem to people even afer they read your material or books like the Schumacher Briefing #9 that does such a good job of explaining the power structure behind the corrupt money system. Are there any models you know of that visually show the flow of money throught he debt based systemand its exponntially increasing debt over time as well as what happens to money in circulation and periodic debt service. My hope is that a really good visual would be ‘jarring’ and help people SEE the problem. Thanks, Tom
Hi, I’ve done a power point presentation a number of times that is up on youtube. The video “Money as Debt” also shows the flow visually really well. I agree though, it would be great to get it down to a few tight and clear visuals. I plan to work on it, time permitting!
Ms. Hodgson Brown
We have heard and read recently about a proposed BILL, H.R. 1698, for a government run GREEN BANK. There are a variety of opinions about its purpose, structure and value to the objectives of Clean Energy development and Energy Independence. Some are in favor and others agree with the general idea but have a dim view of the government’s ability to manage a successful outcome.
We respect your views and wonder if you would be willing to advance an opinion.
Jack Costantino,
Congressional District Leader
Pickens Plan
NJ-11
Interesting! The bill is here –
http://www.govtrack.us/congress/billtext.xpd?bill=h111-1698
The only hitch is, it’s being financed with bonds, which means debt. Bonds will evidently be sold to the public on which interest will be paid, driving up the federal debt even further. The better alternative would be to simply create credit on the books of the bank against the projects to be created, using double-entry bookkeeping or accrual accounting. Checks could be drawn against this credit at very low interest or even zero interest to pay for workers and materials. The income from the projects would then return to repay the loans, canceling them out.
Thank you for your timely response to Mr. Constantino’s query. I suggested that he contact you as a good source of information on this topic. Your response pointed out the fallacy in the bill which I didn’t understand when I read it. I was looking for something to tell me who would receive the interest on the loans. Maybe that is there and I still don’t know how to read this stuff. Do you think this bill is a positive step if it were modified in the manner you suggest? Can we make this happen?
Thank you for “Web of Debt”. Finally I think I may be able to really enjoy learning about this very interesting subject when it is explained in plain English.
The bonds would evidently be sold on the market, like Fannie Mae and similar bonds. The interest would go to whoever bought them — pension funds, the Chinese, banks looking to use their “excess reserves,” perhaps the Fed for bonds not otherwise sold. The Fed is the best of those options for the taxpayers, because the Fed rebates the interest to the government after deducting its costs.