Dear debt-interested folk,
Zarlenga has written a book THE LOST SCIENCE OF MONEY.
Useful information.
Regards,
WCP
Editor, CITS Debt Watch
--
W. Curtiss Priest, Director, CITS
Research Affiliate, Comparative Media Studies, MIT
Center for Information, Technology & Society
466 Pleasant St., Melrose, MA 02176
781-662-4044 BMSLIB@MIT.EDU http://Cybertrails.org
--- Begin Message --- Dear Friends of the American Monetary Institute,
Stephen Zarlenga, Director of the Institute was interviewed for an hour last week by Harold Channer, one of the mainstays of Public Access television in New York City. Mr. Channer regularly scheduled show has aired over 1800 such conversations over the years, and his list of guests reads like a "Whos Who" of American and international intellectual society.
You can view the interview on the Internet this Monday November 17, from 1:00 to 2:00 PM when it will be broadcast (video-streamed) at the following url:http://www.mnn.org (Click on Channel 34 at the Site)
Tune in if you can, I think you'll find the interview worthwhile; Harold is a real pro and we didn't pull any punches. I'm scheduled for a number of upcoming interviews and am very interested in your reactions and suggestions regarding the effectiveness of my presentation. A summary of the discussion is printed below. Please also forward this announcement to your email lists. Thanks for your attention and help - it is very much appreciated.
Sincerely,
Stephen Zarlenga
American Monetary InstituteUpcomingTelevision/Web show: "CONVERSATIONS WITH HAROLD HUDSON CHANNER" Guest For Monday November 17, 2003 _______________________________________________________________________ Guests: RODNEY SHAKESPEARE Global Justice Movment Co-Author: Binary Economics - The New Paradigm & Steven Steps to Justice www.globaljusticemovement.net Email: rodney.shakespeare1@btopenworld.com & STEPHEN ZARLENGA Director: American Monetary Institute Author: The Lost Science of Money - The Mythology of Money - the Story of Powerwww.monetary.org email: ami@taconic.net _______________________________________________________________________________ MONDAY: November 17 2003
1:00 PM to 2:00 PM EST-USA Time Warner Cable Television (MNN) Channel 34 & RCN Channel 107 Manhattan, New York ALSO STREAMED TO THE INTERNET AT THE TIME OF CABLE CASTING AT: http://www.mnn.org (Click on Channel 34 at the Site) Note: You Must Adjust Viewing to New York City Time_______________________________________________________________________ Comments about the program by STEPHEN ZARLENGA A BRIEF SUMMARY OF THE CONVERSATION WITH RODNEY SHAKESPEARE (Co- author of Binary Economics, and Seven Steps to Justice)
AND STEPHEN ZARLENGA (Author of The Lost Science of Money)
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The broad topic was how to move toward a more just economy and the conversation especially focused on how reforming the money system itself is an essential part of this process.
The Money System
That is the mechanisms and institutions by which a society’s money is created, introduced into circulation and kept reasonably stable. The key to establishing a just money system that would promote the general welfare instead of private interests is to place it under public societal control rather than private control. Despite prejudices against government the facts show that governmentally controlled money systems have a far superior record in American history than privately controlled ones. The key factor that usually determines who controls the monetary power, is how the society defines or conceives of money. If money is considered to be wealth, then the wealthy will control the money system. The inability of economists to agree on a valid concept of money and the resulting mystification of the subject was called their chief failure. Adam Smith misdefined money as gold and silver. In the modern period economists have allowed money and credit to become confused. If money is correctly understood as an abstract social power embedded in law, then the society has a better chance that its money system will be within government, just as the law courts are. Ideally it should be organized as a fourth branch of government on a par with the executive, judicial and legislative branches.This battle for monetary dominance can be traced at least back to Aristotle’s time, when an oligarchy was arrayed against the introduction of money by the more democratic Greek Polis. In Aristotle’s day money was known as “nomisma,” after nomos, which meant “law or binding custom” in Greek, and he wrote: “Money exists not by nature but by law.” Thus there exists a “lost science” a tradition of monetary knowledge and experience only now resurfacing. An actual example of such a system from 4th century BC Roman Republic, an Aes Grave, was examined and discussed.The Attack on Government
The “market fundamentalist” viewpoint that such matters should be determined by markets rather than law was strongly challenged including the selling of the free market ideology which was described as incorrect.Indeed the origin of the present day “attack on government” was traced back to Adam Smith’s efforts to keep the monetary power in the hands of the then private Bank of England.The Concentration of Wealth
Discussed indepth are how a just money system would help end the continuing concentration of wealth, where just 1% of the population now owns 40 to 50% of all the wealth in America; such plutocratic control is completely incompatible with democratic ideals. Concepts in Binary Economics which effectively spread ownership to larger segments of the population help reduce this concentration.
Interest Free Money
The conversation pointed out that since money is really created by fiat, that it is possible for the government to issue new money without charging interest on it. Presently new money is created when banks make loans to their clients. They are not just lending money that has been deposited with them, but money they create by the click of a computer key. When the banking system creates this money, they charge interest on it. Such interest charges can put an environmentally friendly technology just out of reach of implementation, to the detriment of the planet. Interest free money therefore has great environmental implications.Another effect of interest free money is that it reduces the cost of infrastructure by from one half to two thirds. That is, normally the interest charge on infrastructure creation or repair doubles or triples the cost of the project. This is of great importance in light of the American Society of Civil Engineers report that our present infrastructure is in such bad shape (D- average grade) that it will require $1.8 Trillion to bring up to par.Another interesting thing about removing this interest is that it potentially removes a major obstacle in relations between the West and the Islamic World, which considers such interest charges as morally wrong.
The Global Justice Movement
The conversation concludes with a discussion of how such ideas are an integral part of the emerging global justice movement.-----------------------------------------------------------------------------------------<Brief Bio for RODNEY SHAKESPEARE
Rodney Shakespeare studied at Cambridge (UK) where he obtained a MA in History. Subsequently, he qualified both as a teacher and a barrister (UK lawyer) and worked in education and business. He is co-author of Binary\ Economics - the new paradigm (which is the standard text book on the subject). Binary economics uses state-issued interest-free money to ensure that, over time, on market principles, everybody (including children) eventually comes to own a substantial capital estate producing an independent income.Rodney, however, has recently co-authored Seven Steps to Justice which provides the intellectual and moral basis of the burgeoning global justice movement. The new thinking is capable of being implemented in Islamic countries, for example, just as easily as in "Western" ones. Go to the new website at www.globaljusticemovement.net where you can find out what is happening and please indicate support by joining as a supporter - it costs nothing! -----------------------------------------------------------------------------------------
Brief Bio for STEPHAN ZARLENGAABOUT THE AUTHOR Stephen Zarlenga draws on 35 years of experience in the world of finance, securities, insurance, mutual funds, real estate, and futures trading. He has published 20 books on money, banking, politics and philosophy (including The Anglo American Establishment, by Prof. Carrol Quigley). While in his mid 20s he incorporated the Athenian branch of an English life insurance company, earlier opening several European markets for the parent firm, IOS.
A few years later he built the U.S. distribution network of the then leading American mutual fund concentrating in gold shares. As a member of the New York Futures Exchange (a subsidiary of the New York Stock Exchange) he specialized in trading the complex CRB futures index for several years. Thus the author is more than familiar with both the practical and theoretical sides of our market economy.
Yet he calls into question and challenges the basis, and Achilles’ heel, of American Capitalism: the private control and resulting misdirection of the nation’s monetary system.
Stephen Zarlenga holds a degree in Psychology from the University of Chicago (and has done postgraduate work at NYU), where he was in the final graduating class under the revered Hutchins’ curriculum which focused on critical reading and thought. This training, combined with his work experience, and years of research, enabled him to re-formulate the Lost Science of Money.
The author began focused research on the money problem in 1991, eventually drawing on over 800 monetary source books and materials to formulate this thesis. In 1996, he helped establish the American Monetary Institute to further the research. In 1999, Conzett Verlag of Zurich, Switzerland translated and published the work in German. This expanded English version released in 2002, establishes the author as a leading voice in the field of monetary history, theory and reform._______________________________________________________________________________
MONDAY: November 17, 20031:00 PM to 2:00 PM EDT-USA Time Warner Cable Television (MNN) Channel 34 & RCN Channel 107 Manhattan, New York ALSO STREAMED TO THE INTERNET AT THE TIME OF CABLE CASTING AT: http://www.mnn.org (Click on Channel 34 at the Site) Note: You Must Adjust Viewing to New York City Time _______________________________________________________________________--
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