Article: Book Review -- No More National Debt, by Bill Still

Book review -- No More National Debt

     Having studied the banking question and history in depth and also put up a web site to educate people on this question -- PublicCentralBank.com -- there are a number of books on this seminal subject worthy of our attention.
     A recent addition to the list of must read books on banking is Bill Still's No More National Debt.    Still is also the producer of the excellent and acclaimed documentary, The Secret of Oz, and a leading figure in the public banking movement.   I highly recommend his new book as required reading to understand the banking revolution now brewing around the world.
     As Still relates, " Sovereign nations do not have to borrow their money into existence., yet the United States has been deceived into doing this since 1913. The compounding interest on this debt is now growing exponentially, and cannot be sustained. Unfortunately, we cannot just pay down the national debt. All our money -- except for coins -- is created out of debt. Under this debt money system, to reduce the debt is to reduce the national money. The only solution is to restructure our monetary system to forbid government borrowing. Fortunately, this is nothing new. The U.S. and other nations have done it before."
     Escaping the banker's strangle hold on our monetary system is also seen as but another phase of the human rights movement. As Still states: " The problem with the economy of every nation on earth has the same root -- national debt -- debt that is totally unnecessary" All nations can get out of debt and not incur any more debt. Any nation that did this would immediately stabilize their economic situation -- that is, incur neither significant inflation, nor deflation -- by design. Human societies run best on stability -- a stable economic platform -- one that can be predicted in the long term. Once the money power is taken away from the big banks and returned into the hands of we, the people, then economic common sense can return, and the nation's legislature can once again become responsive to the voting electorate instead of the bankers" In other words, what we need is a new human rights movement for the next generation based upon No More National Debt."
      He continues with good arguments against the gold standard idea that is still attractive to many today, like Dr.Ron Paul: "My take is that gold money systems only put control of the quantity in the hands of the biggest bankers -- the largest owners of gold."   In other words, no solution at all and, worse, likely to create depression and further impoverish the great majority while further empowering the very cartel that is the source of our monetary problems.
      This book presents an excellent history of banking and also covers the latest efforts toward the establishment of public state banks, as a road to regaining a truly public central bank.   Like Ellen's Brown's Web Of Debt and Naomi Klein's Shock Doctrine , and others you will find on our website, this book is a must read for all Americans eager to escape the monetary, economic, and social tyranny of the banking cartel.
       The message here is clear and prescient: "The economic problems that most people became aware of in the fall of 2008 are not reversing. Unemployment is still rising. Foreclosures are still rising. The world's economic death spiral in to a deflationary depression must continue until the real problem is addressed. Our entire global economic system is at a tipping point and nothing -- nothing -- can rescue it short of the basic reforms presented in this book."

Kent Welton,
PublicCentralBank.com