Donitello's Reviews > Web of Debt

Web of Debt by Ellen Hodgson Brown
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's review
Jun 10, 2009

really liked it

Never schooled in finance myself, I am admittedly not someone whose opinion you want to rely on in this matter. Nonetheless, I am offering it, for one reason: Since its 2007 publication, many of the alarming economic predictions in this book have come to pass exactly as described.

I don't suggest that Ms. Brown is a prophet -- virtually everything in her book is drawn from other sources (and scrupulously cited) -- but simply that she has got her facts straight. This being the case, her book should be read by anyone who wants a modicum of understanding of our global financial situation. It should also, I think, be required reading for everyone in the Legislature.

In reading this book, I was amazed at how coherently the monetary system could be described to a lay person. I'd never have guessed, from all the boring, jargon-filled discourses of our venerable "financial experts," that this was an issue that could be addressed in common sense language. And before anyone thinks I'm just some lay person who is delighted to understand SOMETHING about global finance and hasn't analyzed the data: I have in fact heard and read many arguments against the salient points in this book. I've also posted questions to some of them online -- in particular, about tallies and local currencies, two alternatives Ms. Brown mentions. I've been fascinated to see that no one so far has even acknowledged my questions, even though both tallies and local currencies have long been used with great success in many places in the world up to the present time. Instead, people more informed than I continue to call for "a return to the Gold Standard," a system guaranteeing scarcity and inflation, as far as I can see. It seems that the human urge to ignore "the Emperor's clothes" continues even into this current historic economic crisis. We humans hate considering a new paradigm. And so we continue along the old routes, keeping the major players in their jobs and the current structures afloat, despite their catastrophic track record and the alarming future staring us in the face.

I think it's worth pointing out that this book is strongly supported by world-renown economist Bernard Lietaer, among other high-profile financial and economic experts. These are people who know what they're talking about, and they believe Ms. Brown does, too. Some people may scoff at Ms. Brown, but I can't see how her supporters can be easily dismissed.

The information in this book needs to be common knowledge to every citizen of every country in the world. If the price of liberty is eternal vigilance, so is the price of financial freedom. The economic crisis did not start in 2008. Its roots are deep and far-spreading -- it is the logical result of a centuries-long systemic shell game. We could cut the taproot if we only identified it correctly. Then, with the right steps, we could create a flourishing garden. I wonder if we will ever do so.
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