Community Currency - 04/08/10

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"Monetary Reform" with Stephen Zarlenga, author of the book- The Lost Science of Money - The Mythology of Money - The Story of Power.  Zarlenga has over three decades of practical experience in the world of finance and spent over twelve years doing the historical research to write his book.  The final chapter is the solution he offers based upon his knowledge and understanding of money, and the failures of past attempts at monetary reform.  His idea is modelled upon the work of other economists, and has been written into legislative language which should someday come before Congress. He believes that daunting though the struggle may appear, we must not give up because our future depends on changing our deeply flawed monetary system.  He founded the American Monetary Institute, which strives to educate the public and Congress about money and the need for reform. They have organized excellent conferences,  where experts and researchers have pooled their knowledge and expanded awareness on the need for reform. He condemns most economists for obscuring the basic facts about money, how it is created, its structural flaws, which transfer wealth from the many to the few.  He believes that governments not banks should create money, that the Federal Reserve should be nationalized, that private banks should not be allowed to create money out of thin air, siphoning wealth from others, and that governments have the right to create money and should spend it into existence on infrastructure projects that benefit people. The American Monetary Institute's website is www.monetary.org.  The next annual Monetary Reform Conference will be held Sept. 30 - Oct. 3rd in Chicago.