MORE THAN ONE WAY TO RECLAIM THE POWER TO CREATE MONEY: An Open Letter to the American Monetary Institute

Posted on August 29, 2009 by Ellen Brown

A response to a critique of a publicly-owned bank solution posted on the American Monetary Institute blog.
Read response here.

Filed under: Ellen Brown Articles/Commentary |

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6 Responses

  2. Joseph Danison, on August 29, 2009 at 2:50 pm said:

    Thanks for rising so eloquently in your own defense!

    “Your plan represents a far more radical diversion from the status quo than mine and is therefore a harder sell to make to basically clueless politicians.”

    This is the kernel of the dispute. Like the old song says: “love the one you’re with”. We can’t simply overthrow he private system of credit creation no matter how “immoral” it may be. It has been with us since Alexander Hamilton and as odious as it may be, it does have the virtue of counteracting centralized government power by keeping the money power in private hands.

    The AMI’s faith in the Treasury is naive. There is a “state’s rights” dimension to the problem. Do we want an all powerful Party ( a la the PRC) to dictate who will perish and who will prosper? Or do we distribute the money power among the various states a la the state owned banks, which are best positioned to determine local & regional needs?

    I am sorry to hear Stephan Zarlenga take this view. He has established an orthodoxy, as revolutionaries tend to do, rather than being flexible and open-minded, AND practical.

    Our Ms. Brown takes the world as she finds it. She’s not a revolutionary, but a true reformer. She demonstrates a greater capacity for creative adaptation than Mr. Zarlenga and the AMI.

    Reply
  3. karen, on September 6, 2009 at 2:30 pm said:

    what happened to all the comments that were here? are they posted elsewhere? there was lots of good dialogue on this article before

    Reply
  4. Ellen Brown, on September 7, 2009 at 8:34 pm said:

    This is in response to Doug Wolfe on the AMI website, in case they don’t post my response there. I’m all for the U.S. government issuing the money it needs. The AMA is right on that and I support it. More power to it! But there will always be a need for banks to lend money at interest. I’m just saying that publicly-owned banks are a more efficient way to get there. This is not a stopgap measure; it’s a solution. It would make it obvious to Congress that we don’t need to be bailing out these big Wall Street behemoths in order to have a credit system. We can set up our own credit system and let them fail in the ordinary way. I believe the nation is under covert attack by foreign powers, which are inches away from solidifying a global one-world private money system headed by the Bank for International Settlements as global regulator. The G20 just agreed to that, with the Financial Stability Board approved in April in London. If we don’t do something fast, they will pass a regulation forbidding all nations from issuing their own money or their own credit. Carroll Quigley said that was what they were up to 50 years ago, and they’re doing it and they’ve almost succeeded. The odds of Congress passing the 100% reserve solution in the next year or two before that happens are zero. They don’t understand it and won’t see why it would solve anything. But they WOULD understand a publicly-owned bank option. It’s already being done in North Dakota, brilliantly well. It’s been done in other countries brilliantly well. State politicians understand it; I’ve talked to them. It’s something we could do NOW to save our nation from the grip of a global cartel that has been attempting to shut down this nation for 300 years and is about to succeed. Read my latest article on Huffington Post or on my website, http://www.webofdebt.com/articles.

    Reply
  5. Boca Raton Las vegas CPA jobs, on May 19, 2014 at 6:56 pm said:

    You ought to be able to run the business sans worrying too much about its financial aspect.
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    Reply

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