<<

. 83
( 85 .)



>>

counts,” BBC News (September 16,
2005).
2007).
8. Lyndon LaRouche, “Trade Without
5. Peter Ralter, “News of the Day,”
Currency,” schillerinstitute.org
LeMetropoleCafe.com (September
(2000).
16, 2007).
9. “Dr. Mahathir Mohamad,”
6. John Hoefle, “The Federal Reserve
aljazeera.com (August 12, 2004).
Vs. The United States,” Executive
10. “Gold Dinar Coins,” Intelligence Review, April 12, 2002.
taxfreegold.co.uk/golddinar.html. 7. Ron Paul, “Reject Taxpayer Bank
Bailouts,” LewRockwell.com (May 4,
11. Tarek El Diwany, “Third World
2005).
Debt,” presentation at Cambridge
University™s “One World Week” in 8. Chris Powell, “Central Banking Is
February 2002, citing UNDP Human Easy; The Challenge Is to Stay in
Development Report (1997), page 93. Power,” gata.com (August 23, 2007).
9. “Remarks from Hillary Clinton on
12. Tarek El Diwany, “A Debate on
the Global Economic Crisis,” CNN
Money,” islamic-banking.com (July
(January 22, 2008) (video preserved
2001).
on allamericanpatriots.com).
Chapter 47 10. Jim Sinclair, “Could This Be ˜The
Mother of All Wakeup Calls™?”,
1. George Friedman, “Global Market
jsmineset.com (January 20, 2008).
Brief: China™s Engineered Drop,”
worldnewstrust.com (March 1, 2007); 11. Carol Matlack, “Societe Generale™s


518
Web of Debt
Fraud: What Now?”, Business Week January 11, 2008).
(January 24, 2008). 26. Greg Morcroft, “Massachusetts
12. J. Sinclair, op. cit. Charges Merrill with Fraud,”
MarketWatch (February 1, 2008).
13. Mike Whitney, “Is This the Big
One?”, Information Clearing House 27. Mike Whitney, “The Bush Financial
(January 21, 2008), citing cnbc.com/ Bust of 2008: ˜It™s All Downhill from
id/22706231. Here, Folks,™” Counterpunch
(February 8, 2008).
14. “Countrywide CEO Waives
Massive Severance Package,”
MortgageNewsDaily.com (February
6, 2008).
15. Robert Kuttner, “Testimony Before
the Committee on Financial Ser-
vices,” U.S. House of Representa-
tives (October 2, 2007).
16. “Bond Insurers, Not Fed, Driving
Market,” seekingalpha.com (Febru-
ary 4, 2008).
17. U.S. Credit-derivative Use Adds to
Ambac, MBIA Volatility,” Reuters
(January 23, 2008).
18. Bethany McLean, “The Mystery of
the $890 Billion Insurer,” Fortune
(May 16, 2005).
19. “Monoline Insurance,” Wikipedia.
20. Jane Wells, “Ambac and MBIA:
Bonds, Jane™s Bonds,” CNBC (Febru-
ary 4, 2008).
21. “Mortgage Bond Insurers ˜Need
$200bn Boost,™” TimesOnline
(January 25, 2008).
22. Adrian Ash, ”Goldman Sachs
Escaped Subprime Collapse by
Selling Subprime Bonds Short,”
Daily Reckoning (October 19, 2007).
23. Sean Olender, “Mortgage Melt-
down,” SFGate.com (December 9,
2007).
24.“Rulings May Hinder Trustees™
Foreclosure Actions,” Securities Law
360 (Portfolio Media, Inc., December
6, 2007).
25. Henry Gomez, Tom Ott, “Cleveland
Sues 21 Banks Over Subprime Mess,”
The Plain Dealer (Cleveland,


519
Web of Debt



Index

A banking, central 72, 88, 124, 259
banking, commercial 213, 330,
Adams, John 47, 343 400, 411, 418, 419, 457
adjustable rate mortgages (ARMs) banking, community 346
287-290, 455 investment 177, 329, 330, 401,
Aldrich, Nelson 123-124, 129, 134, 457
138 Islamic 399, 401
Ambac 474-75 money center 185, 329, 330
American Monetary Institute (AMI) national 93, 225, 259, 393, 426
American Monetary Act 373, 397 BankOne 128, 326
American Revolution 14, 19, 42, 48, bankruptcy 280, 348
84, 101, 224, 225, 341, 388 Code, revision of 280
“American system” of economics corporate 281
51, 55, 80, 86, 230, 249, 460 of banks 325, 333, 419, 455
Argentina, hyperinflation in Barings Bank 470
243, 348 Barnard, Harvey 365
Aristotle 60 Basic Income Guarantee 428
Asian crisis of 1997-98 209, 212, 252 Baum, L. Frank 11, 109, 337
Asian Monetary Fund (AMF) 253 Bear Stearns 323, 465-66
Augustin, Chuck 316 Berkshire Farm Preserve Notes 350
Auriti, Giacinto 342 Bernanke, Ben 382-384, 421
Australia, Commonwealth Bank 414 Biddle, Nicholas 80, 81
Bilderbergers 129, 130, 309
B Bismarck, Otto von 91, 93
Bohnsack, Ken 432
Bacon, Sir Francis 35 Bolser, Michael 313, 315, 321
Bagley, R. Colt 301 Bonus Bill 111
bailout of banks 331, 417, 419, 456, Boyko, Christopher 299, 476, 478
468-69, 477 Bretton Woods
Baker, Dean 423 Accords 438, 443, 445
Bamford, James 205 Conference 129, 207
Bank of America 468m 477 gold standard 207
Bank of England British East India Company 66
36, 40, 65, 68, 69, 71, 72, 73, 394, “British system” of Economics 51, 80,
468-69 223, 225
Bank of Japan 251, 385, 386 Bromsgrove Group 432
Bank of the United States. See United Brouillet, Carol 353
States Bank Bryan, William Jennings 7, 11, 13, 15,
Bank of the United States, Second 77 16, 17, 18, 19, 20, 112, 393
Bankers Manifesto of 1892 107 Buffett, Warren 189, 281, 331
Bankers Manifesto of 1934 149
521
Index

Bureau of Engraving and Printing 73 Cold War 228
Burien, Walter 433 collateralized debt obligations
Burr, Aaron 54 (CDOs) 397, 465-66, 478
Bush, George H. W. 468 commercial banking. See banking,
business cycle 288, 451, 454 commercial
Butler, Smedley 160 Commodities Futures Trading
Byrne, Partick 188, 330 Commission 193
Communist Party 227
C community currencies 347-356, 390
compound interest 32, 410
CAFRs (Comprehensive Annual chart 32
Financial Reports) 433 Confederacy 89
Cahn, Edgar 350 Congress 8, 12, 45, 48, 75-84, 93, 96,
Caldicott, Helen 268 371, 378, 388, 457-460
Canadian Action Party 432 Constitution, U.S. 48, 50, 55, 78, 95
“capital flight” 211 309, 393, 451
carbon credits 351 Constitutional Convention 48
Carey, Henry 85, 223, 225, 230, 249 Consumer Price Index 444, 445, 448
263, 389 Continental Congress 43
Carey, Matthew 51, 85 Continental currency 43, 44, 45, 48
Caribbean pirates 369 Continental Illinois, bankruptcy of
Carlyle Group 104 420, 421
Carmack, Patrick 60, 398 Countrywide Financial 466, 468-69,
Carnegie, Andrew 118, 137, 338 472
Carribean pirates 388 Cook, Chris 400
carry trade 413 Cook, Richard 428
Cayman Islands 192, 322 corporations 102
CDO. See collateralized debt Corrigan, Sean 199
obligations Council on Foreign Relations 129
central banking 72, 259 Counterparty Risk Management
Channel Islands, money system 100 Policy Group (CRMPG) 318, 453
Chase Manhattan Bank 54, 120, 127 Countrywide Financial 466
Chase, Salmon P. 94, 95, 120 Coxey™s Army 12, 14, 108, 110,
Chicago Federal Reserve 171-176 155, 234, 279, 446
China 99, 257-265, 270, 411 Cramer, Jim 472
Chinese renminbi 258, 264 credit card 277, 282, 283, 284, 412
Chossudovsky, Michel 5, 220, 253 credit card debt 282, 422
Citibank 24, 196, 302, 331, 421 credit clearing exchange 443
Citigroup 128, 305, 326, 475, 477 credit default swap 471, 474
Civil War , U. S. 19, 91, 95, 120, 121, Crime of ™73 18, 95, 112
123 CRMPG report 320
Clay, Henry 51, 57, 79, 80, 83, 85, 86 Cromwell, James 63, 67, 70
Cleveland, President Grover 15, 16 Crudele, John 312, 313
Clinton, Hillary 470 Currency Act of 1764 41
Coinage Act of 1792 365

522
Web of Debt

currency board 244 301, 304, 305, 306, 459
currency exchange rates 209, 212, Deutsche Bank, 299, 476-77
220, 239, 453 devaluation of currency 210,
basket of commodities standard 239, 243, 244, 246, 247
442 of Argentine peso 243
Bretton Woods gold standard of Mexican peso 216
207 of Zimbabwe currency. 247
Consumer Price Index standard DiLorenzo, Thomas 85
444, 448 Dinar, Gold 446
floating currencies 209 Dow Jones Industrial Average 181,
pegged to dollar 211, 216 308, 451, 466
renminbi 260 chart 381

E
D
Eccles, Marriner 32, 372
Daly, Jerome 28-30 Ecuador 439
Damon, Frank 258 Edison 88, 224
Dann, Marc 478 El Salvador 439
Daughty, Richard 307 Embry, John 316
Day of Jubilee 435 Emergency Powers Act 309
de Fremery, Robert 396 Emry, Sheldon 47, 237, 347
debt, Federal. See federal debt Engdahl , William 206, 215, 241,242,
debt, household, chart 286 251,266
debt, state and local 432 equity market 178
debt-free money 12, 14, 20, 88, 95, 96, Exchange Stabilization Fund (ESF)
148, 153, 371, 382, 426, 428, 431, 317
Declaration of Independence 334,
F
338
deflation 384, 419, 430
Fannie Mae (Federal National
Del Mar, Alexander 42, 66
Mortgate Association) 295-299,
Democratic Party 86
326
Democratic Republicans 54
farm parity pricing 460
Denmark 411
FDIC (Federal Deposit Insurance
depository 402, 404
Corporation) 144, 145, 199, 328,
Depository Trust and Clearing
333, 404, 416, 419, 420, 421, 426,
Corporation (DTCC) 186, 187
432, 453, 459, 460, 468
Depression, Great 13, 42, 85, 127, 141,
FDIC receivership
144, 146, 147, 151, 153, 180, 181,
144, 333, 404, 420, 456, 458
187, 197, 203, 229, 347, 360, 385,
Feder, Gottfried 235
405
“Feder money” 234, 238
derivatives 3, 191-197, 209, 301-
federal debt 4, 6, 23, 33, 100, 139, 154,
306, 309, 327, 421-24, 438,
155, 164, 199, 262, 286, 307, 366-
446, 470, 475
382, 394, 399, 405, 406, 411, 426,
derivatives crisis

523
Index

428, 452, 453, 457, 458, 460 Freddie Mac (Federal National
chart 368 Mortgage Association) 295, 298
debt per person, chart 369 Free Coinage Act of 1666 67
Federal income tax free market 453
133, 135, 136, 138, 426, 452 free trade 51, 86, 223, 230, 454
Federal Reserve, U.S. 23, 26, 29, 32 Freeman, Richard 295, 322
123-129, 141-146, 148, 155-176, French Revolution 73
394 Friedman, Milton 208, 384, 426
ownership of 129-131 Friendly Favors 352
Federal Reserve Act of 1913 8, 25, full dollarization 439
134, 332, 458 Fuller, Buckminster 339
Federal Reserve Bank of New York
G
24, 127, 142, 163, 166, 174
Federal Reserve Notes 3, 26, 73, 94,
Galbraith, John Kenneth 32, 266
162, 169, 365

<<

. 83
( 85 .)



>>