Show Notes
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#Bankcreatedmoney #FederalReservehistory #Debtbasedmonetarysystem #Publicbanking #Monetarysovereignty #WebofDebt
Web of Debt: The Shocking Truth about Our Money System and How We Can Break Free is a nonfiction critique of modern banking, monetary history, and public policy by attorney and public-banking advocate Ellen Hodgson Brown. First published in 2007 and later revised, it argues that most money in circulation is created as bank credit when private banks make loans, tying the money supply to expanding debt and interest obligations. Brown connects this mechanism to a broad historical account of financial power, the development of central banking, and the creation of the Federal Reserve. Her purpose is not merely explanatory: she contends that monetary authority should serve public needs rather than private financial institutions. The book advances publicly owned banking, government credit, and locally oriented currencies as possible reforms. Written for general readers rather than specialists, it combines institutional explanation with a strongly argued political case. Its claims and prescriptions are contested, but its central value is making money creation and banking structure a subject of democratic debate.