By Ellen Hodgson Brown
ISBN-10: 0979560802
ISBN-13: 9780979560804
This publication exposes very important, frequently obscured truths approximately our funds process and our fiscal earlier and destiny. Our cash isn't what we were resulted in think. The construction of cash has been privatized -- taken over by means of a personal cash cartel. it's all performed via sleight of hand, hid via financial double-speak. "Web of Debt" unravels the deception and offers a crystal transparent photograph of the monetary abyss in the direction of which we're heading, declaring all of the signposts. Then it explores a achievable substitute, person who was once verified in colonial the USA and is grounded within the better of American monetary concept, together with the writings of Benjamin Franklin, Thomas Jefferson and Abraham Lincoln. If you care approximately monetary safety, your personal or the nation's, you have to learn this booklet.
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Extra resources for Web of Debt: The Shocking Truth About Our Money System -- The Sleight of Hand That Has Trapped Us in Debt and How We Can Break Free
Sample text
5 Before the loan office came to the rescue, Pennsylvania had been losing both business and residents due to a lack of available currency. The loan office injected new money into the economy, and it allowed people who had been forced to borrow from private bankers at 8 percent interest to refinance their debts at the 5 percent rate offered by the provincial government. ” The secret was in not issuing too much, and in recycling the money back to the government in the form of principal and interest on governmentissued loans.
The “Impossible Contract” There are other legal grounds on which the bankers’ fractional reserve loans might be challenged besides failure of consideration and fraud. In theory, at least, these loan contracts could be challenged because they are collectively impossible to perform. Under state civil codes, a contract that is impossible to perform is void. 17 The impossibility in this case arises because the banks create the principal but not the interest needed to pay back their loans. The debtors scramble to find the interest somewhere else, but there is never enough money to go around.
By a casuistry which is now elevated into an economic principle, but which has no defenders outside the realm of banking, a warehouseman who deals in money is subject to a diviner law: the banker is free to use for his private interest and profit the money left in trust. . He may even go further. 12 A tort is a wrongdoing for which a civil action may be brought for damages. Conversion is a tort involving the treatment of another’s property as one’s own. ” That term was used by the court in a landmark Minnesota lawsuit in 1969 .
Web of Debt: The Shocking Truth About Our Money System -- The Sleight of Hand That Has Trapped Us in Debt and How We Can Break Free by Ellen Hodgson Brown
by Ronald
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