Table of Contents

Contents


Acknowledgments viii
FOREWORD by Reed Simpson, Banker and Developer ix
INTRODUCTION: Captured by the Debt Spider 1

Section I THE YELLOW BRICK ROAD:
FROM GOLD TO FEDERAL RESERVE NOTES
9
Chapter
1 Lessons from The Wizard of Oz 11
2 Behind the Curtain: The Federal Reserve
and the Federal Debt
23
3 Experiments in Utopia: Colonial Paper Money
as Legal Tender
35
4 How the Government Was Persuaded to Borrow
Its Own Money
47
5 From Matriarchies of Abundance to
Patriarchies of Debt
57
6 Pulling the Strings of the King:
The Moneylenders Take England
65
7 While Congress Dozes in the Poppy Fields:
Jefferson and Jackson Sound the Alarm
75
8 Scarecrow with a Brain:
Lincoln Foils the Bankers
83
9 Lincoln Loses the Battle with the Masters
of European Finance
91
10 The Great Humbug: The Gold Standard
and the Straw Man of Inflation
99

Section II THE BANKERS CAPTURE
THE MONEY MACHINE
107
11 No Place Like Home:
Fighting for the Family Farm
109
12 Talking Heads and Invisible Hands:
The Secret Government
117
13 Witches' Coven: The Jekyll Island Affair
and the Federal Reserve Act of 1913
125
14 Harnessing the Lion: The Federal Income Tax 135
15 Reaping the Whirlwind: The Great Depression 143
16 Oiling the Rusted Joints of the Economy:
Roosevelt, Keynes and the New Deal
153
17 Wright Patman Exposes the Money Machine 163
18 A Look Inside the Fed's Playbook:
"Modern Money Mechanics"
173
19 Bear Raids and Short Sales:
Devouring Capital Markets
183
20 Hedge Funds and Derivatives:
A Horse of a Different Color
193

Section III ENSLAVED BY DEBT: THE BANKERS'
NET SPREADS OVER THE GLOBE
203
21 Goodbye Yellow Brick Road:
From Gold Reserves to Petrodollars
205
22 The Tequila Trap: The Real Story
Behind the Illegal Alien Invasion
217
23 Freeing the Yellow Winkies:
The Greenback System Flourishes Abroad
225
24 Sneering at Doom:
"Germany Finances a War Without Money"
235
25 Another Look at the Inflation Humbug:
Some "Textbook" Hyperinflations Revisited
241
26 Poppy Fields, Opium Wars and Asian Tigers 251
27 Waking the Sleeping Giant:
Lincoln's Greenback System Comes to China
259
28 Recovering the Jewel of the British Empire:
A People's Movement Takes Back India
267

Section IV THE DEBT SPIDER CAPTURES AMERICA 277
29 Breaking the Back of the Tin Man:
Debt Serfdom for American Workers
279
30 The Lure in the Consumer Debt Trap:
The Illusion of Home Ownership
287
31 The Perfect Financial Storm 293
32 In the Eye of the Cyclone: How the Derivatives
Crisis Has Gridlocked the Banking System
303
33 Maintaining the Illusion:
Rigging Financial Markets
315
34 Meltdown: The Secret Bankruptcy of the Banks 325

Section V THE MAGIC SLIPPERS:
TAKING BACK THE MONEY POWER
335
35 Stepping from Scarcity
into Technicolor Abundance
337
36 The Community Currency Movement:
Sidestepping the Debt Web
with "Parallel" Currencies
347
37 The Money Question:
Goldbugs and Greenbackers Debate
357
38 The Federal Debt:
A Case of Disorganized Thinking
367
39 Liquidating the Federal Debt
Without Causing Inflation
375
40 "Helicopter" Money:
The Fed's New Hot Air Balloon
383

Section VI VANQUISHING THE DEBT SPIDER:
A BANKING SYSTEM
THAT SERVES THE PEOPLE
391
41 Restoring National Sovereignty
with a Truly National Banking System
393
42 The Question of Interest: Ben Franklin Solves
the Impossible Contract Problem
407
43 Bailout, Buyout, or Corporate Takeover?
Beating the Robber Barons at Their Own Game
417
44 The Quick Fix: Government That Pays for Itself 425
45 The Tin Man Gets a Heart:
Solving the Problem of Third World Debt
435
46 Building a Bridge:
Toward a New Bretton Woods
441
47 Over the Rainbow:
Government Without Taxes or Debt
451
 
Glossary 463
Selected Bibliography of Books and Suggested Reading 471
Notes 473
Index 503