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For more information, see the writings of a variety of money reformers including David Korten, Richard Cook, Stephen Zarlenga, Michael Hudson and this author; articles collected at www.webofdebt.com/articles and www.GlobalResearch.ca; the documentary videos “The Money Masters” and “Money as Debt;” and proposed legislation by Congressman Dennis Kucinich to nationalize the Fed, and by Congressman Ron Paul to audit it (HR 1027).
1. See Ellen Brown, “Borrowing from Peter to Pay Paul: The Wall Street Ponzi Scheme Called Fractional Reserve Banking,” www.webofdebt.com/articles (December 29, 2008).
2. Congressman Charles Binderup in a 1941 speech, “How America Created Its Own Money in 1750: How Benjamin Franklin Made New England Prosperous.” Binderup quotes historian John Twells on this point.
3. E. Brown, “Turning the Tables on Wall Street: North Dakota Shows Cash-starved States How They Can Create Their Own Credit,” www.webofdebt.com/articles (March 11, 2009).
4. Chris Powell, “Fed Refuses to Disclose Recipients of $2 Trillion,” GATA (December 12, 2008).