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Linked Index to the money section of this site and good outside sources
Read all these articles, reports and such with a critical mind: don't believe everything. Remember the following words of wisdom:
"Believe nothing, no matter where you read it, or who said it, no matter if I have said it, unless it agrees with your own reason and your own common sense." / Buddha
  1. Acton, Lord / "The History of Freedom in Antiquity" / A classic
  2. Adler, Mortimer / Louis Kelso (1913 - 1991) and Mortimer Adler (1902 - 2001) Binary Economics / The Capitalist Manifesto (1958) download at <<http://www.kelsoinstitute.org/>>
  3. Allen, Gary / 1971 / "None Dare Call It Conspiracy"/ by Gary Allen, 1971 / Mr. Allen, a good writer, was bitten by the conspiracy bug.
  4. Anderson, Jenny and Bajaj, Vikas / 12/6/07 / Sub-Prime Mortgage Problem of 2007 / This is our analysis of an article in the NY Times -- "Wary of Risk, Bankers Sold Shaky Mortgage Debt"
  5. Andrews, Edmund L. / 9/18/08 / A New Role for the Fed: Investor of Last Resort / from The New York Times
  6. Andrews, Edmund L. / 3/16/04 / Greenspan Shifts View on Deficits in 2004 / NY Times
  7. Bajaj, Vikas and Norris, Floyd / 12/13/07/ Credit Crisis of 2007/ The New York Times /
  8. Baker, Alexander "Ace" / Origin of Money / Based on the Austrian School of thought. Focuses on using gold as money or as backing for money. Another good writer bitten by the conspiracy bug.
  9. Bastiat, Claude Frederic / "The Law" / A classic
  10. Brooks, David / 2008 / Economics: Five Current (2008) Economic Revolutions in the United States. From a NY Times article by a wise thinker and journalist.
  11. Brown, Ellen / "Web Of Debt" -- The Introduction in her book. A level headed approach to the subject. She is a more-than-competent historian on the subject of debt and money.
  12. Brown, Ellen / Articles -- http://www.webofdebt.com/articles/ Ellen Brown is a clear thinking writer. Read her articles and you are bound to learn something.
  13. Brown, Ellen /10/8/08 / Who Owns The Federal Reserve? The Fed is privately owned. Its shareholders are private banks. Once again, Ellen Brown delivers a well written analysis -- this time of the FED.
  14. Brown, Ellen / 10/25/08 / Death of the free market by the hand of the U.S. government.
  15. Bush, George / 6/18/02 / His Greatest Speech? / Title: Remarks on National Homeownership Month / ... led to an unintended consequence ... (Terrorists) hate the idea that somebody can go buy a home ... We don't conquer people. We liberate people ... When somebody owns their own home, they're realizing the American Dream ... What we call a homeownership gap in America. Three-quarters of Anglos own their homes, and yet less than 50 percent of African Americans and Hispanics own homes. That ownership gap signals that something might be wrong in the land of plenty, and we need to do something about it. ... So I've set this goal for the country: We want 5.5 million more homeowners by 2010--million more minority homeowners by 2010.
  16. California, The State of / Banking: General Requirements to start a bank in California
  17. California, The State of / Banking: Detailed Summary of laws regarding the starting of a California bank.
  18. Calmes, Jackie / 8/16/08 / Economics and the election of 2008 ... If Elected ...Rivals Differ (a Bit) on Financial Market Rules / Comments of this website in blue.
  19. Carbone, Martin R. / 10/27/08 / Credit Default Swaps Explained / It is quite incredible.
  20. Carbone, Martin R. / 9/23/08 / Title: Existing lending rules allow banks to negligently sell off shaky house loans / One root cause of money system meltdown ... The way the system should work ... Banks create new money ... Leverage built into the fractional reserve system ... Avoidance of risk should not be allowed ...
  21. Carbone, Martin R. / 9/11/08 / Who runs our banking system? This is an important question.
  22. Carbone, Martin R. / 9/11/08 / Title: Freddie and Fannie -- Two Patsies.
  23. Carbone, Martin R. / 9/23/08 / Title: A study of money: Aimed at designing a plan of action to improve our money system. The study is based on (1) a set of conjectures and (2) conclusions based on those conjectures.
  24. Carbone, Martin R. / 9/23/08 / Title: Plan A, A plan of action: Designed to provide for a better money system. It is based on the study referenced directly above.
  25. Carbone, Martin R. / 9/23/08 / Title: A formula for a money system based on 10 required attributes of the nation. This was derived from the "study" and the plan directly above.
  26. Carbone, Martin R. / Plan B to provide for a better money system / The plan is embodied in a "Report To Congress" ... (Also see Plan A above)
  27. Carbone, Martin R. / 9/23/08 / Title: Money as a social contract: A short essay on the subject.
  28. Carbone, Martin R. / 9/23/08 / Title: What limits the amount of money that can be put into an efficient monetary system?
  29. Carbone, Martin R. / 9/23/08 / Title: Downside Leverage -- The stuff that should keep the Federal Reserve System in line -- by penalizing them when they make bad loans.
  30. Carbone, Martin R. / Title: March Meltdown: The March, 2008 Financial, Housing and Money System Problem ... What is happening? ... What should be done? ...
  31. Carbone, Martin R. / 2004 / Title: Theory of Economics -- A simple theory developed before I studied the subject earnestly (mrc)
  32. Carbone, Martin R. Title: / The Evolution of Systems: A short theory that can be applied to Economics
  33. Carbone, Martin R. / Title: Common Sense Economics: Commonomics , A work in progress.
  34. Carbone, Martin R. / Title: The myth of problems caused by bank-runs / Bank Runs do not cause significant problems to our monetary system.
  35. Carbone, Martin R. / Paper Money: Paper money comes in different forms
  36. Carbone, Martin R. / A compilation of the above13 articles + 2 new articles (23 pages) on money and the money supply: / plus 10 pages of Thomas Jefferson quotations. (10/22/08)
  37. Carbone, Martin R. / (10/23/08) What determines how much a given bank can lend to its borrower / customers. Is it the "reserve requirement" or the capital / asset ratio?
  38. Carbone, Martin R. / (10/27/08) A 44 page .pdf with about 20 articles on money and the money supply.
  39. Clinton, Hilary Rodham / 9/18/08 / Her views on the credit crisis ... in a letter to a private citizen/activist.
  40. Cook, Peter / Bank Deposit Money
  41. Cox, Jim / Concise Guide To Economics (Introduction) /Chronology of Thought / Author / Classic Reference Books / Subject Matter / Schools of Thought
  42. Credit Default Swaps / a discussion at Investopedia
  43. Credit Derivative / leads to a definition at Investopedia
  44. Curran, John P. / President Kennedy tries to take control of the money supply
  45. Davies, Glyn / History of Money from Ancient Times to the Present Day / Monetary history in context from the dawn of civilization to the beginning of the twenty first century. Very comprehensive.
  46. Davies, Glyn / Origins of Money and of Banking: / What is Money? / Functions of Money / Causes of the Development of Money / Primitive Forms of Money / The Invention of Banking and Coinage / Greek Coinage / Money Exchange and Credit Transfer / The Royal Monopoly of Minting / Paper Money / Intangible Money / Noteworthy Points Regarding the Origins of Money
  47. Definitions of money: 22 definitions from the web
  48. Douglas, Clifford Hugh / (1924) / Social Credit Click through from section to section to read this interesting, influential and somewhat inscrutable book from 1924. It is another branch on the tree of economic thought. Douglas' theory includes annual "Social Dividend Payments of Money" to the public to increase their purchasing power. I personally find the theory hard to swallow. It had a great influence on the Canadian Government in the 1930's.
  49. Douglas, Major Clifford Hugh / "Social Credit" / A classic
  50. Edison, Thomas and Ford, Henry on Government Bonds
  51. Edison, Thomas and Ford, Henry / 1921 / Edison and Ford Would Simply Issue Currency: Would Use "Power" as a Money Unit.
  52. Emry, Sheldon / Title "Billions for Bankers ... " Billions for bankers and debts for you (An indictment of the Federal Reserve System)
  53. Federal Budget: A reduction of 33% in the federal budget is proposed. We think it sounds reasonable.
  54. Federal Reserve Bank of St. Louis / 9/26/08 / Statistics on Real Estate Loans at All Commercial Banks -- This is related to the article by Higgs (scroll down) ...
  55. Feinstein, Dianne U.S. Senator writes about economics 10/1/08
  56. George, Henry / 1897 / Progress and Poverty / Progress and Poverty -- The entire book -- online. An important book on economics. It attempts to explain why poverty is virtually unknown in primitive societies but widespread wherever there is great wealth. George's logic is extremely powerful. Although everything he says may or may not be precisely accurate, it is difficult to find a flaw in his reasoning. This edition has been re-written in modern English. It is relatively easy to understand. Henry George might have been the third most well known man in the United States (behind Thomas Edison and Mark Twain)? / A classic
  57. Glossaries:
    Glossary & Index from "Web Of Debt"
    Glossary of Economic Terms (a work in progress)
    Glossary of Economic Terms from about.com
    Glossary of Economic Terms from economist.com
    Glossary of Political Economy Terms / by Paul M. Johnson /
  58. Gouge, William / 1833 / Money system: "On The Principles Of The Money System" -- William Gouge was an advisor to President Jackson / 1833 / A 93 page .pdf -- presented here to add historical perspective. This is a very dense and convoluted report -- practically impossible for an average person to understand. Note that it was written less than 50 years after the formation of the U.S.A. and is probably a good example of the less-than-clear understanding of the general understanding of "the principles of the money system" at that time (and perhaps today?).
  59. Greenspan, Alan / 8/19/96 / Gold and Economic Freedom: He of great renown as the recent leader of the Federal Reserve System speaks his mind and we offer criticism.
  60. Harburg, Yip (1931) Brother, can you spare a dime? / Sad memories (10/20/08)
  61. Higgs, Robert / 9/23/08 / Title: Credit Is Flowing, The sky is not falling -- Do not panic ... A good argument that our current "financial meltdown" is phony and in reality, it is a government grab for more power. / Atmosphere of fear ... fear-mongering ... Statistics on loans ... " If people panic and allow Congress to exploit the hyped-up fears of the moment, however, much worse outcomes may be brought about, not the least of which is another giant leap in the size, scope, and power of the federal government—a direct threat to our economy and our liberties.
  62. Hitler, Adolph / "Mein Kampf" / A classic
  63. Jefferson, President Thomas / Jefferson's prophecy
  64. Jefferson, President Thomas / Jefferson quotations: -- From a collection at the University of Virginia.
  65. Kaye, David / 9/19/08 / "The Federal Reserve has done remarkably well in managing the dollar these past 100 years, making it the second-most stable currency in the world. I think we will see in the coming months that the Fed will keep the American economic system from collapsing. Any other country in such similar straits would likely have collapsed into banana republic status by now.
  66. Louis Kelso (1913 - 1991) and Adler, Mortimer (1902 - 2001) Binary Economics / The Capitalist Manifesto (1958) download at <<http://www.kelsoinstitute.org/>>
  67. Krugman, Paul / NY Times / 9/22/08 / Title: Cash For Trash / Henry Paulson ... $700 billion ... Rescue plan ... Housing bubble ... Capital to debt ratio ... Mortgage-backed securities ... "Paradox of deleveraging" ... Savings and Loan crisis ... Fannie and Freddie ... Dictatorial authority ... "Don't be railroaded" ...
  68. Krugman, Paul / Economic Inequality in the U.S.A.: From an article in the NY Times ... Is the Golden Age of middle class America over forever?
  69. Krugman, Paul / Will Congress Rubber-Stamp Bush's plan to stop the financial meltdown of September 2008 -- or will they show some courage? Read what Paul Krugman suggests. He says it is time for careful thought.
  70. K rugman, Paul / Deficits and the Future / by Paul Krugman -- He discusses national budget deficits 12/1/th
  71. Krugman, Paul / Let's fix the system for good -- We don't need no stinkin patches / November 28, 2008 / Op-Ed Columnist / NY Times / He makes suggestions, we comment on htose suggestions.
  72. Kurland, Norman G. / A New Look at Prices and Money: The Kelsonian Binary Model for Achieving Rapid Growth Without Inflation
  73. Laws:
    Banking: General Requirements to start a bank in California
    Banking: Detailed Summary of laws regarding the starting of a California bank.
    Constitution of the United States of America
    Federal Banking Laws / FDIC and FRB law /This is a link to the actual current (early 2008)
    Money and finance laws -- the U.S. Code
  74. Liebowitz, Stan J. / 10/3/08 / Title: Anatomy of a Train Wreck: Causes of the Mortgage Meltdown (a .pdf) / Government attack on underwriting standards ... Housing price bubble ... Speculators ... "Nasty sub-prime lenders" ...
  75. Lincoln, President Abraham / 1865 / Lincoln's Monetary Policy ... He was a smart, courageous guy. It may have cost him his life.
  76. Lowenstein, Roger / NY Times / 9/7/08 / Title: "Long-Term Captal:It's a Short-Term Memory" / Financial Models ... "Long-Term Capital Management" collapse of 1998 ... Bear Stearns ... Leverage ... Equity to assets ratio ... Hedge fund ... Risk ... Risk management ... Black-Scholes formula ... Option Pricing ... Random markets ... Liquidity ... Alan Greenspan ... "Too-big-to fail" ... Derivatives ... Derivative regulation ... Error by Greenspan ... Credit-default swap ... Esoteric securities ...
  77. Marx & Engels / "The Communist Manifesto" / A classic
  78. McElroy, Wendy / "Individualist Anarchism v. Communist Anarchism and Libertarianism" / A classic
  79. Mitchell, Rodger Malcolm / Current as of 10/08 / "Free Money: A plan For Prosperity" / http://www.rodgermitchell.com/ ... This is from a very interesting website ... Mitchell has lots of ideas on money and related issues, such as the Federal Budget ... Offhand, it seems as though his ideas are, in general, worthwhile ...
  80. NY Times -- articles on Derivatives -- the cause of the Meltdown? / http://topics.nytimes.com/top/reference/timestopics/subjects/d/derivatives/index.html?inline=nyt-classifier
  81. Norris, Floyd -- Hold on -- we are on a roller-coaster ride / Another Crisis, Another Guarantee
  82. Orwell, George / "1984" / A classic
  83. Orwell, George / "Animal Farm" / A classic
  84. Paine, Tom / On Economics / "Paine grasped an essential truth underlying the science of political economy: 'Lands are the real riches of the habitable world, and the natural funds of America ... "
  85. Paine, Tom / "Common Sense" / A classic
  86. Partnoy, Frank / NY Times / 9/2708 / Just Buy the Loans ... Bailout proposal stalled ... Overbroad definition ... Complex derivatives ... Directly purchasing actual mortgage loans ... Securitized loans ... Derivative bets ... Complex slicing and dicing ... Explanation makes no sense ... Congess should keep it simple ... Buy only mortgage loans, not derivatives.
  87. Patman, Wright / August, 1964
    (a) Patman's "Money Facts -- 169 Questions and Answers on Money" -- A Supplement to "A Primer on Money" (see entry "c" below). This 30 page report explains in relatively plain English what the "Primer ... " is about. An average person should be able to understand this report. If you read only one of these reports -- this should be it. See annotated version -- (d) below
  88. Patman, Wright / August, 1964
    (b) Patman's Speech to Congress by Wright Patman, introducing the "Primer on Money" This speech basically covers the same ground as the above-mentioned "Primer ...". It is easier to understand than the "Primer ...". It also has the advantage of being in .html.
  89. Patman, Wright / August 5, 1964
    (c) Patman's "A Primer on Money" -- By Congressman Wright Patman / For the House Committee on Banking and Currency / a 141 page .pdf / A classic
  90. Patman, Wright / August, 1964
    (d) Patman's ABCs of Money: an annotated version of (a) above.
  91. Paul, Ron speaks -- But he is not convincing -- 12/1/08
  92. Paxton, Tom / (1931) What did you learn in school today? / Shame on us (10/20/08)
  93. Paulson speaks -- On the 2007-2008 meltdown
  94. Paulson again / Fighting the Financial Crisis, One Challenge at a Time / By HENRY M. PAULSON Jr. / Washington
  95. Petter, Andrew / "Federalism and the Myth of the Federal Spending Power" / A classic
  96. Proudhon, Pierre Joseph / "What is Property?: An Inquiry into the Principle of Right and of Government" / A classic
  97. Quotations: Quotations on Money subjects from prominent men (added 8/18/08)
  98. Quotations: A quotation a week on and about money.
  99. Reich, Robert B. / 2/13/08 / We are sliding into a Recession ... How to stop it / also by Reich ... both from the NY Times
  100. Rockwell, Llewellyn H. Jr. / 9/13/08 / The Social Imperative of Sound Money A justified attack on our system. Very well written.
  101. Rothbard, Murray N. / 1983 / Banking, The Mystery of / A quite important book that is aligned with the Austrian School of economic thought. Download the book here. This writer, Martin R. Carbone, finds the book and the Austrian School wide but shallow: they cover lots of ground but often skip details. I find the arguments that (paraphrasing) "an increase in the money supply (their main concern?) will always lead to inflation" very unconvincing. If new money is introduced into the system in such a way as to increase true wealth, that new money should not lead to inflation. I don't think they allow for that possibility of "wealth creating" money. The book is dedicated to, among others, Thomas Jefferson. You can find various quotations from Jefferson here. Note that at 1.3 of these quotations, Jefferson writes "It would be best that our medium should be so proportioned to our produce". That statement seems to acknowledge that our money supply can be kept in balance with our "produce". That acknowledgment seems to be at odds with most of the Austrian school of thought.Austrian School of Economics: Exponents of the Austrian School hold that the only valid economic theory is logically derived from basic principles of human action. (from wikipedia)
  102. Rousseau, Jean-Jacques / "The Social Contract" / A classic
  103. Schumer, Senator Charles / Free Trade: Second thoughts on the subject.
  104. Simmons, Gene / current as of 10/08 / See <<http://www.federalbudget.com/> ... it is about the Federal Budget: It has all sorts of good information about how our government spends money ...
  105. Smith, Adam / A brief look at Adam Smith's "Wealth of Nations". This is an important book on economics. The complete book is here -- http://www.mondopolitico.com/library/wealthofnations/mpintro.htm
  106. Smith, Adam / "An Inquiry into the Nature and Causes of the Wealth of Nations" / A classic
  107. Soddy, Frederick / 1926 / Nobel prizewinner in Chemistry and author of "Wealth, Virtual Wealth and Debt". Its subtitle - 'The Solution to the Economic Paradox'. Another theory, another book and another branch on the tree of economic theory. This is a 1988 article about Soddy and his "Doctrine of Virtual Wealth" by J. MARTIN HATTERSLEY. <<http://nesara.org/articles/soddy88.htm>>
  108. Thayer, Prof. Frederick of George Washington University / 2008 / Money System Management: Debt reduction causes depressions ... an interesting analysis ... from a letter to the editor of the Christian Science Monitor.
  109. United States Government / Constitution of the United States of America
  110. United States Government / Federal Banking Laws / FDIC and FRB law /This is a link to the actual current (early 2008)
  111. United States Government / The coinage act -- The actual law establishing rules for the coining of money. (added 8/19/08)
  112. Unknown Author / Economics: Another view of Economics / Beware of this hodge-podge ... we are putting it on our website as a curiousity ...
  113. Unknown Authors -- President Kennedy tried to take control of the money supply by issuing an Executive Order????
  114. Various Authors / Great, Classic Books on Economics and Politics / Full Text / <<http://www.mondopolitico.com/library/>> Find links to the full text of various books.
  115. Wikipedia / 2008 / History of Money / You can't rely on Wikipedia as being authoritative -- so be sure not to swallow the information whole.
  116. Wikipedia / 2008 / http://en.wikipedia.org/wiki/Andrew_Jackson / President Jackson and his Opposition to an Elite National Bank
  117. Zarlenga, Stephen / 2002 / American Monetary Institute / U.S. Constitution:
    Drafting the Constitution / (c) 2002, Also titled History of Money in the United States: A well written presentation that explains the evolution of money at the start of the U.S. The explanation of how paper money worked then (and still does) is unique, easily understood and logical. Contains this important observation, "But why did the framers of a document (The Constitution), so far advanced in its day regarding the balance between legislative, judicial and executive power, not realize that the monetary power if left unchecked, could endanger and ultimately overwhelm the whole edifice?". From The Lost Science of Money by Stephen Zarlenga. Unfortunately Zarlenga seem to have been bitten by the conspiracy bug before he penned his "Act" -- see below.
  118. Zarlenga, Stephen / 2/21/06 / The American Monetary Act / © 2006, VERSION 10, / American Monetary Institute (AMI) , P.O. Box 601, Valatie, NY 12184 / <<ami@taconic.net>> This is a blustery Act which the AMI plans to try to have enacted by Congress. Their 10th version of the Act is in black type -- our comments are in blue. It needs help.


Miscellaneous:
  1. Annual Interest on the National Debt: It is more than $400 Billion
  2. Food Costs: Food costs around the world in 2007.
  3. Index to the Money Section of this site: (under construction -- it will be last thing we will complete)
  4. Lectures: Lectures you can buy on "Legacies of The Great Economists"
  5. The Laws Of Venitis: You don't like these laws? Make up your own -- Venitis will not care.
  6. Money proverbs from 1857 -- 12/1/08
  7. "What the hell is an Economist?" 12/1/08 / “/ by James Raider, in the NY Times / He thoughtfully discusses economists and the problems trying to follow their thinking. Worth reading. ABSTRACT: "Staggering egos ... rooted in analytical methods far from the disturbing notion of public discourse and sensibilities ... readily capable of pontification ... interminably scrutinize the minutiae of fractions ... macroeconomically dissecting our lives ... creating hypotheses felicitous of one theory, or another ... all struggle to be heard in one way or another ... a few get lucky ... they either specialize, or they really don’t know anything, and become really, really dangerous ... they deal with yesterday ... as to what will occur tomorrow, or even later today, our seers are particularly inept ... they have perceptibly limited understanding of the nature that is human ... Nowhere can we find morality in their computational gyrations ... human nature is not in their catalogue of, 'Things I’m An Expert In.' "
    The material below this line is very questionable. I hesitate to include it on this website -- but perhaps there is something worthwhile that I am missing. In any event -- "you can learn a lot from fools".

  8. Twisted History -- this has not been checked thoroughly. It was taken from <<http://www.moneymaker.com/money/rfc1a.htm>> which has much dubious information. You might be better off skipping this entry.
  9. Bank Deposit Money: Much of this report is inscrutable. Even so, we are putting it up because (a) it shows some diligence in gathering information, (b) it points to some good sources, and (c) it serves as a good example of a certain kind of bias.
  10. Money: How money is created. This is not very well written -- but you might get something out of it.
  11. Federal Reserve System: This is a rant against the Fed. (added 8/19/08)
  12. Federal Reserve System: Another rant against the Fed.
  13. Inflation Causes: Very poorly written. Presented here so you can recognize the type of thinking you should avoid.

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