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Galbraith, James 7
Federalist Debates 133
Garfield, James 96
Federalist Papers 50
GATA (Gold Anti-Trust Action
Federalists 54
Committee) 315, 469
Fekete, Antal 208
General Motors, bankruptcy of 304
FEMA (Federal Emergency Manage-
George, David Lloyd 66
ment Agency) 309
Germany 91, 233, 235, 236, 237, 263
fiat 60
Gibson, Donald 204
fiat money 60, 61, 85, 89, 165, 208,
Gilded Age 95, 97, 118, 121, 123
233, 234, 235, 250, 390, 426, 440,
Glass-Steagall Act 159, 177, 193,
453
329, 472, 475
First National Bank of Montgomery
Global Exchange Network 348
vs. Daly 28
globalization 229, 454
Fitts, Catherine Austin 278, 308, 434
Glover, Paul 349
floating exchange rates. See currency
gold price, chart 346
exchange rates
gold standard 8, 13-15, 17-19, 21,
Ford Motor Corporation 304
86, 92, 97, 98, 101, 102,
foreclosures, home 28, 29, 107, 148,
203, 223, 452
151, 288, 290, 294, 311, 412, 429,
Goldbugs 357-361
455
Goldman Sachs 104, 197, 218, 305,
Foreclose, standing to 299
308, 315, 316, 318, 475-77
Forum for Stable Currencies 432
Good Roads Bill 110
fractional reserve 30
Goodwin, Jason 36
Fractional Reserve Banking 332
Grameen Bank of Bangladesh 345,
fractional reserve banking
413
26, 27, 28, 69, 166, 174, 208,
Grant, Uysses S. 249
332, 358, 396, 398, 431, 452
Greco, Tom 353, 443
fractional reserve lending 451
Greenback dollar 85, 87, 88, 89, 92-
Franklin, Benjamin 36, 37, 40,
96, 407
260, 403, 407, 414
Greenback Law of 1878 205

524
Web of Debt

Greenback Party 13, 95, 111 hyperinflation 218, 219, 230, 237-244,
Greenback proposal 20 246, 247, 263, 306, 347, 379, 388,
Greenbackers 13, 15, 96, 235, 357, 358 429
Greenspan, Alan 23, 295, 318, 319
I
370, 383
Griffin, Ed 145, 165, 226, 227, 373,
IMF. See International Monetary
420
Fund.
Grillot, Greg 260
“IMF riot” 309
gross domestic product (GDP) 269
income tax 3, 4, 100, 133-139, 295,
gross national product (GNP) 269
344, 366, 382, 416, 426-428, 453,
guaranteed basic income 428
458, 459
Guernsey 100, 101, 247, 380
India 265-72
Guttman, Robert 327, 401
farmer suicides 271
H Industrial Revolution 62
inflation 4, 88, 97, 98, 100, 260, 262
Hamilton, Alexander 42, 48, 49-55, 425, 454. See hyperinflation.
369, 375 chart 103
Hanna, Marcus 15, 18, 19, 112 Ingraham, Jane 217
Harvey, William Hope 111, 146, 148, interest 31, 354, 406, 407
149, 365 interest rates 213, 294
Hazard Circular 92 interest-free banking 411
Heavily Indebted Poor Country International Monetary Fund
Initiative (HIPC) 436 129, 207, 210, 213, 217, 219, 229,
hedge funds 191-193, 196, 197, 323, 240-242, 244-47, 252-254, 267,
465 269, 277, 348, 436, 453
Hemphill, Robert H. 5, 155, 156, 160 investment banking. See banking.
Hepburn v. Griswold 95 Iran 370, 410-11
Hitler, Adolf 234-36, 238 Iranian oil bourse 306
Hoefle, John 193, Iraq 58, 368
197, 302, 325, 422, 465 Islamic banking 354, 410-11, 446
Hogan™s Heroes 111 Ithaca HOUR 349, 350
home ownership 107, 285, 286
J
Homeland Security Act 309
Homestead Act 84
J. P. Morgan 119, 120, 122
Homestead Laws 144, 288
J. P. Morgan Chase Company 24,
Hoskins, Richard 61, 63
305, 316, 319, 326
housing bubble 286, 290, 455
J. P. Morgan Chase Bank 197, 302,
housing crisis, possible solution 295,
421
306, 429
Jackson, Frank 477
Hudson, Michael 290
Jackson, Andrew 1, 75, 76, 79, 80-83
Hummel, William 30, 173, 329, 330,
Japan 249, 250-253, 385-388
399, 402, 403, 405
Jefferson , Thomas 50, 52, 54, 75, 76
Hurricane Katrina 309, 313
78, 79
Hylan, John 1, 116
Jekyll Island 422
525
Index

Johnson, Chalmers 250, 252 Lincoln, Abraham 8, 14, 79, 82, 83,
Johnson, Lyndon 205 87-89, 91-93, 96, 103, 258
Juilliard v. Greenman 95 Lindbergh, Charles, Sr., 107, 124, 126,
139
K Linton, Michael 351, 403
Littlefield, Henry 11, 17
Kennedy, John F. 204, 266
Liu, Henry C. K. 2, 212, 216, 220
Kerensky, Alexander 226
236, 247, 259, 261, 263, 310, 327
Keynes, John Maynard 99, 152, 153,
local currencies 347-349, 350, 355
154, 156, 207, 427
Local Exchange Trading System
Keynesian economic theory 153
(LETS) 351
King Charles I 67
London Global Table 432
King Charles II 67
Long Term Capital Management
King George II 40
(LTCM) 304, 318, 325, 468
King George III 40, 47
Lord, Eleazar 101, 203
King Henry I 61
LTCM 304
King Henry VIII 66
Lub, Sergio 352
King James II 65
King William III 66, 67, 69
M
Kirby, Rob 306, 369, 370
Kirchner, Nestor 245 M3 26, 33, 154, 164, 295, 305, 306,
Kissinger, Henry 210, 217, 309 308, 324, 340, 360, 370, 375, 376,
Knox, Philander 137, 138 388, 426
Knox v. Lee 95 cessation of reporting of 305
Komp, Lothar 304 growth in, 307
Krugman, Paul 281 Madison, James 77
Kucinich, Dennis 432 Mahathir, Mohamad 254, 255, 446,
Kuhn, Loeb & Co. 120, 123, 226 447
Kuttner, Robert 473 Mahoney, Martin 29
Makow, Henry 236
L Malaysia 254
Mandarin China 61
land banks 38, 48, 414
Mandell, Betty Reid 415
Langrick, Roger 408, 434
manipulation of markets 180, 188,
LaRouche, Lyndon 193, 445
189, 193, 208, 246, 320, 381, 405,
Law, John 71, 72
454, 458, 459
Lee, Barbara 432
margin, trading on 191
legal tender 36, 369
Mark, Christopher 6
Legal Tender Acts 87, 88, 95
“market basket” standard for valuing
LETS (Local Exchange Trading
currencies 443
System) 351-53, 403, 406
market maker 185, 186
Leverage 191
market manipulation 453
Lewis, Dave 331, 421
Martin, Al 273, 295, 309, 368
Liberty Dollar 343, 344
Marxist theory 225, 230
Lietaer, Bernard 31, 57, 211, 350,
Massachusetts, colony of 36
351, 444
526
Web of Debt

MasterCard 128, 284, 422 National Economic Stabilization and
Mather, Cotton 37 Recovery Act (NESARA) 365
Matlack, Carol 470 National Republican Party 83, 86
MBIA 474-75 negative trade balance 210, 257
MBS. See mortgage-backed securities. Neoconervatives 228
McFadden, Louis 155, 158-160 NESARA. See National Economic
McKinley, William 16, 19, 112 Stabilization and Recovery Act.
Meiji Revolution of 1868 249 “New Currency” 444
Merrill Lynch 475, 477-78 New Deal 85
Mexico 215-220 New England colonies 39
bailout of 1994 218 New World Order 129, 272, 273
peso devaluation 218 New Zealand Democratic Party for
Middle Ages 59, 60, 62, 63 Social Credit 432
Milosevic, Slobodan 242 Nixon, President 203, 206, 208
Minnesota bridge collapse 469 Noninterest-Bearing Bonds Bill 110
Mississippi bubble 72 NORFED (National Organization for
MITI (Japanese Ministry of Interna- the Repeal of the Federal Reserve
tional Trade and Industry) 250 Act and the Internal Revenue
“Modern Money Mechanics” 26 Code) 343, 344
171, 283 Norman, Montagu 142
monetary reform 20, 394, 446 North, Gary 289
monetization of debt 307, 369, 454 Northern Rock 467-78
money center banks 329 Novak, Gary 194, 303
money supply 25, 405, 426 NWO (New World Order) 272, 273,
monoline insurers 474 317, 430, 461
moral hazard 316, 320, 456
O
Morgan, J. P. 15, 18, 24, 118-122, 422
Morgan, House of 7, 119, 120
Olender, Sean 475-76
mortgage debt 107, 286
One Hundred Percent Reserve
mortgage defaults 295, 298
Solution 396-399, 403, 405
mortgage-backed securities (MBS)
OPEC (Organization of the Petroleum
288, 295, 297, 326, 399, 429
Exporting Countries) 210, 266
Mozilo, Angelo 472
open market operations 458
Murphy, Bill 313
Operation Northwoods 205
N Opium Wars 18, 223, 247, 249, 257

NAFTA 217, 218
P
national banking. See banking.
National Banking Act of 1863-64 93
Paine, Thomas 43, 225
national credit
Palast, Greg 270
86, 221, 258, 263, 357
Panic of 1907 124
national debt. See federal debt.
Parker, David 337
National Dividend 249, 428, 433
Parliament, British 67, 70

527
Index

Parrington, Vernon Real Estate Mortgage Investment
49, 85, 97, 102, 357 Conduit (REMIC) 296
Paterson, William 68, 71 reflation 385
Patman, Wright 24-26, 32, 111, 116, Renaissance 62

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