We are in a worldwide economic crisis, and “MONEY” is at it’s very center.  It is a crisis of money management, and the result of permitting ruthless private international financiers to gain and keep control over “OUR” money.  Yes, money is a sovereign right that arises from the sovereign right of an individual to enter into contracts.  By allowing that right to be usurped by private banking interests we have lost the greatest power a free and democratic people can have – economic power.  If you are confused about money, the information on this website will help to set you free.  All of the articles here are dedicated to that sole purpose.


Wealth-money is an alternative way of thinking about the debits and credits and currencies that we now call “money”.  All money now comes into existence via some form of personal, public, or national debt.  Therefore all “money” is now of a variety of debt or credit money that is “loaned into existence”. This is true whether or not you believe it.  The new concept of money would be based on assets, or wealth production, instead of debt. If it were created by a community or public entity, it could replace taxation as a way of funding social infrastructure instead of further enriching Wall Street bankers..  The concept is also immediately doable, requiring no more than the public will to make it happen.  Money creation is a sovereign right inherent in the right to make contracts, because at its very bottom, that is all money is – a contract, a financial obligation. Wealth, all wealth, is essentially some combination of resources and labor. Adding capital to the definition is unnecessary because capital is really only stored wealth. The modern trend to confuse capital and credit is just that – confusion. Money is a medium of exchange. It is only an abstract social invention that serves the purpose of advancing commerce and trade beyond the barter process. Commodities like wheat, salt, gold, and silver have been long used as money but are not really money unless they are declared so by custom or law. They are still useful as a basis for trade between economies or areas with differing money systems. Wealth should be the basis of all money, and wealth money does not require payment of interest. No interest means no national debt, less private and public debt, and more prosperity. Money is a consequence of man’s freedom to enter into contracts, and that is a sovereign right or all free persons. Money should be created by a public authority that is responsible to the people, and done in a way that is neither inflationary nor deflationary. This is not the way it is now, and that is what this website is about: How it new is as opposed to how it should be.

I’m a retired teacher, entrepreneur, and jack-of-all-trades who has made continuing education a life-long pursuit.  An avid reader of mostly non-fictional works of history, philosophy, religions, political  and socio-economic systems. I have done my best to learn something of importance in every arena of human life.  I feel I’ve achieved some measure of success in doing that, especially with the aid of the internet and personal computers, which I began using in 1985, and DOS 2.xxx was the latest rage.

Technology has come a long way in many respects, but have we humans advanced in enough important ways to handle the new technologies?  That is the big question, and today we are standing on the brink of either enormous spiritual and ethical advancements or the abyss of apocalypse.  Which will we choose?

I feel certain that enough people will choose the path of light and life that will enable us to move through the difficult times that lie just ahead, and survive an uncertain and stormy journey of self-discovery and growth.  I pray that my posts on this and other blogs may make some small contributions to helping us along that journey.

The discovery of what money really should be, as opposed to what it now is, will be a huge leap forward for all current civilizations.  Which civilizations and cultures will lead the way in the transition to this new money paradigm is an open question.  It may be that those in the West are so heavily invested in the status quo that they will be left behind, and so, “the first will become last”, as the prophesy goes.

We live in exciting times.  It is good to be alive in this age of change and challenge.  I would not have missed it!  😉

Please comment freely. –  Jere

12 Responses

  1. Thanks for your support regarding my lawsuit which you read about on webofdebt.

    I certainly agree something needs to be done about the monetary system.

    I think the right way to go is to have governments issue money not the private sector.

    Actually, I understand that Gov. Shwarzenegger (sp?) may be close to doing this, probably without knowing what he is doing. He is issuing IOU’s to people the California government owes.

    What he should be doing instead is issuing not an IOU but something that says the piece of paper, when turned in, can be used to pay X dollars worth of California taxes.

    Presto. California is making its own money.

    That is really all it takes.

  2. Thanks David. I agree that separating the money creation function from other banking operations, and placing it in the public sector, would be an essential ingredient to any meaningful monetary reform legislation.

    Trillions of dollars in interest money that are now going to further enrich the wealthiest of the wealthy COULD and SHOULD be going to operate our governments on all levels, and pay down our national debt – a national debt that arose from the need to pay interest to the bankers on the money we unnecessarily BORROW into existence, rather than just CREATE IT ourselves.

    The system is warped and twisted, and could only exist because it is made to seem too complex for the average overworked taxpayer to understand.

    No one should ever be in the situation you are in. No one should ever have to repay more money in interest than the amount originally borrowed, even on the longest terms.

    But there are more evils in this current system than could fill many volumes. Once we fix or replace this criminal enterprise we call a banking system we can begin to fix all the other problems in our evolving world, from hunger and starvation to wars, plagues and environmental contamination.

    But we are running out of time. Before long the opportunities to “fix things” will be taken out of our hands. Then we will be looking for ways to build better systems to replace those that have collapsed or failed.


  3. It really is so easy to do without legislation of any kind at the local level.

    Just call it a tax redemption certificate. Any taxing authority has the ability to accept whatever it wants as payment of taxes. So if it wants it can issue tax redemption certificates as payment for anything it needs to buy.

    Suppose it needs to build a road. It tells the contractor I am going to pay you in a tax redemption certificate. Instead of paying you $1000, I am going to give you a certificate that will enable you or the bearer to pay $1000 of our taxes with this certificate.

    Pretty soon they would be exchanged like money because they have all the properties of money. And all of a sudden the municipality is debt free.

    But such a movement should probably should start with municipalities and move up to the states and then of course the federal government would do the same thing.

    Eventually this concept would put the bankers out of business.

    And it needs no legislation. It just needs a couple of municipalities to kick it off.

  4. Dear Mr. Hough,

    I am a teacher. Having read Web of Debt and carrying it everywhere I go, I realize that the rubber needs to meet the road. Real change must happen at the grassroots level. This is where I’m lost.
    Can you tell me what is going on in Illinois or on any grassroots level that follows Brownian Economics and might incite the right people for real monetary reform?

    Paul Hubbard

  5. Hi Paul. Sorry I missed this until now.

    I appreciate your question. I wish everyone were asking it, or similar ones. For starters YOU are going on in Illinois. You are the “grassroots” in your neighborhood. Attend meetings, circulate petitions, recruit organizers, join reform groups, join political action groups, or start them. Give copies of “Web of Debt” to family, friends, and political activists. Print out Web of Debt tri-folds and get some friends to go down to your courthouse and distribute them. Get copies of the video “Money as Debt” and give them away, or invite people to watch it with you or your group.

    The national headquarters of the American Monetary Institute is located in Chicago, Illinois. If you live close you might give them a call and ask how you can help. Look over their website at:

    Just some off the cuff thoughts. Good luck.

    Cheers, Jere

  6. Jere i have also been putting the rubber to the ground and i have a possible TV interview lined up with CNN if i can get the message to Ellen, can you ask her to contact me if she would be interested, i have been pushing this story for weeks and i would love to get Ellen to explain on National News Media what is really going on

  7. Hi Karl, I’ve sent your request to Ellen H Brown, and I understand she has contacted you. I hope something good can come from it.

    Thanks for your interest,


  8. Jere,

    Have you had a chance to read Byron Dale’s newest book “Modern Money Secrets”?

    I would like to hear your opinion of it.


    • Thanks for asking, Tomozope. I have an extremely high opinion of Byron Dale, and his opinions and perspectives on money and monetary history.

      Although I have not yet read Byron’s new book with Greg Soderberg, I have read many of his former writings and interviews and had personal conversations with Byron at meetings and conferences on money reform. I would recommend all that I have read so far, and would expect his new book to be a continuation of his previous thinking.

      Actually I would like to ask you, or anyone who has read the book, to highlight any major differences between Byron Dale’s money reform thinking and my own, or Ellen Brown’s (Web of Debt), Stephen Zarlenga’s, Michael Hudson’s, or any of the other recommended sources listed here on this blog. I am not personally aware of any such differences.

      Thanks for your comment, and if you have read Dale’s book, please comment on it.

      • I was hoping someone would post a response other than myself.

        The major difference between Modern Money Secrets and the rest of the other peoples writings is that Byron’s book really gets into explaining how this affects the average persons life.

        His new book is much different than his other writings because it really lays out everything about money. The good the bad, the in between. It’s very far beyond a continuation. It’s a very thoroughly, let me repeat, very thoroughly researched book.

        I’ve read a lot of books on the subject of money and Modern Money Secrets is without question, the best book that has ever been written about how our monetary system came to be, functions, and the most important part that is missed by most other books, how it affects you in your everyday personal life….

        And what can be done to fix this very serious problem with our monetary system.

        Let me say this again.

        I’ve read a lot of books about money, and none hold a candle to Modern Money Secrets.

        It’s the greatest book ever written about the entire subject of money. It’s the book designed to change the world.

        • Thanks Tomozope, I just want to emphasize that “the best book” on any given subject is the one with the maximum truth content that reaches you, (the reader) on your level of comprehension and readiness to learn. That essentially means that the “best book” for one may not be the best for another. The best book for a professor of economics may not be best for the sixth grade student. I appreciate your contributions, as well as those of Byron Dale.

  9. I want to once again emphasize the central idea around which monetary and economic reform must revolve:

    The essence of money reform, and the resulting benefits to mankind that will result from it, is to shift the creation and control of money from the private to the public realm.

    Whether on the municipal or community level, or the county level, or the state, national or international levels, money creation must be placed in the hands of monetary authorities that are accountable to the people, i.e., governments.

    If governments are not sufficiently accountable to the people, then they must be made to be, under the severest of penalties. But the entire purpose of “government” is to further the well-being of “the people” in general: the advancement and enhancement of society and culture. This is the essence of civilization itself. Civilization cannot exist apart from government, law and order.

    One more time: Money must be brought under public control. The issue of what LEVEL of public (or government) control is another matter.

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