Fed Chairman Bernanke could not or would not tell which foreign central banks got $500,000,000,000 from the Fed.
The End of Money and the Future of Civilization
The first edition of my book, The End of Money and the Future of Civilization, was published by Chelsea Green Publishing in 2009. While it remains
as relevant today as it was when first published the printed book has been out of print for several years. But, having had the rights reverted to me by my publisher, I am making the entire book available for free in PDF format. You can read it or download it HERE. If you would like a hard copy of the first edition used copies can still be found on Amazon.com, Abe books, Thrift books and elsewhere.
Better still, you can avail yourself of the new revised and expanded 2024 edition which I have been working on for almost two years and is almost complete. Eighteen chapters have already been posted and can be freely read or download HERE.My previous books, as published, may be freely accessed in digital format by clicking the title below.
Money: Understanding and Creating Alternatives to Legal Tender (2001)
New Money For Healthy Communities (1994)
Money and Debt: a Solution to the Global Crisis (1980)
Collectors may find used and some new print copies of my books as published, on amazon.com and elsewhere online. Start by clicking on the title below:
Money: Understanding and Creating Alternatives to Legal Tender (2001)
Beyond Money- What’s holding back the Paradigm Shift?
- Taking Moneyless Exchange Successfully to Scale
- Reclaiming Your Savings
- The West under oligarchy
- An Honest Money System
- The Money Problem–A Fix
- The End of Money Explained
- The amazing usefulness of AI! Rethinking Money Cretion
- An Economy That Shapes Who We Become-Tim Jenkin explains
- What to do in the face of the dominant systems of health and agriculture that are making us sick?
Beyond Money 
The article: Ben “Systemic Risk” Bernanke proves that Bernanke knowingly maintained a strict monetary policy long after he knew of the sub prime problem as he knew it would cause of the “Depression”.
It shows that he probably engineered it on purpose!
If you want to sleep tonight, Don’t Read It!
“In contradiction to the prevalent view of the time, that money and monetary policy played at most a purely passive role in the Depression, Friedman and Schwartz argued that “the [economic] contraction is in fact a tragic testimonial to the importance of monetary forces” (Friedman and Schwartz, 1963, p. 300).
…..
The slowdown in economic activity, together with high interest rates, was in all likelihood the most important source of the stock market crash that followed in October.
In other words, the market crash, rather than being the cause of the Depression, as popular legend has it, was in fact largely the result of an economic slowdown and the inappropriate monetary policies that preceded it.
Of course, the stock market crash only worsened the economic situation, hurting consumer and business confidence and contributing to a still deeper downturn in 1930.”
Governor Ben S. Bernanke
Money, Gold, and the Great Depression.
At the H. Parker Willis Lecture in Economic Policy, Washington and Lee University,
Lexington, Virginia.
March 2nd, 2004
You can read also: Preparing for the Crash, The Age of Turbulence Update: 22/07/09., which tries to accomplish Greenspan Mission Impossible:
“Much as we might wish otherwise, policy-makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances. Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away.
…..
That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer. Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances. Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away.”
Alan Greenspan
The Age of Turbulence: Adventures in a New World [Economic Order?].
Plea for a New World Economic Order. explains the nature and causes of economic depressions and proposes a plausible alternative solution.
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I too saw this and agree, it made Big B look pretty bad. However…
I think the negativity about the credit swaps was a bit misleading. If I understand them, they are much like the money plan you advocate. It is not money taken from US savings or taxes, it is simply credit money created to facilitate trade.
What are your thoughts on this matter? Are the swaps truly free credit, or are they some form of debt financing?
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