Omitted attribution

Ralph Foster, author of “Fiat Paper Currency — The History and Evolution of Our Money,” points out that the quote opening my article of May 19, 2009 on the Weimar inflation came from his book. (“It was horrible. Horrible! Like lightning it struck. No one was prepared. The shelves in the grocery store were empty. You could buy nothing with your paper money.”) My source was a secondary one that omitted that attribution, so I’ll make it here with apologies. Here is an endorsement of Foster’s groundbreaking book by Ruth Hanham, Ph.D., of Harvard University:

“[Foster] states his case clearly, drawing on a wealth of primary and secondary sources, touching upon many diverse cultures, from the Chinese to the European to the North American. His professional familiarity with all types of currency and coinage grounds the book, making it refreshingly free of airy theories and complicated jargon, accessible to any intelligent reader. I highly recommend it.”
Ruth S. Arnon Hanham
Ph.D. History
Harvard University 1978

Ralph Foster’s book is available at

8 Responses

  1. […] Dr. Ellen Hodgson Brown Featured Writer Dandelion Salad June 14, […]

  2. Excellent. Had a thought, I have seen a number of videos and other sources where it is asked what type of Government the US has, with the supposedly incorrect response of Democracy. The supposed correct response though is that it is supposed to be a Republic (which different writers have given different reasons for).

    It seems to me though that should it not be a Democratic Republic? A hybrid blend of Republic and Democracy? Democracy is good for those situations concerning economics or what effects the whole. Republics are good for preserving individual rights. Is is not a silly simplification to say we have a Republic or should have one only?

  3. Click on the above, or on my screen name, and you’ll see David Icke’s ‘What is Money?’ monolog, given in L.A. some months ago. He defines credit as non-existent money created (to get borrowers on the hook, so that they forfeit real assets when credit lines get “reeled in”) via computer by private banks. In general he sounds as if he’d been reading Web of Debt.

    • God, I hope not. Associating monetary reform with this guy is the kiss of death for monetary reform. You’ll be ridiculed into oblivion. Talk about conspiracy theory, this guy is the ultimate conspiracy theorist. This is Icke’s conspiracy theory:

      “According to writer David Icke, 7-foot (2.1 m) tall, blood-drinking, shape-shifting reptilian humanoids from the star system Alpha Draconis are the force behind a worldwide conspiracy directed at humanity. He claims that the reptilians maintain their control through the generation of fear and negative emotion, which is food to these entities, by manufacturing conflicts, primarily wars. He contends that most of the world’s leaders are in fact related to these reptilians.”

      • The irrational doctrines of Libertarians or Masons can do far more harm to society. He still manages to correctly define credit in our system. But inverting that definition doesn’t define money anymore than numerical models for calculating net present values of perpetuities define realised banking reserves. Thus, banks prefer gov’t to force society to accept via the barrel of a gun their fictitious virtual reality, and so avoid having at least all their reserves in (and taxes & debts paid in) constitutional ISO money – XAU & XAG.

  4. Where can I get Ralph Foster’s “Fiat Paper Currency — The History and Evolution of Our Money”. I tried Amazon & my library. None.



  5. Ralph Foster just wrote a very nice email. He says his website is We’re trading books! What a nice ending to a difficult situation.

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