Ellen Brown
Encyclopedia
Ellen Hodgson Brown is an American lawyer
and author who since 2008 has become a well-known monetary reformer
, mostly because of her book The Web of Debt. She has also written several books about alternative medicine.
, which she believes is an allegory about the need for monetary reform. She explains how the monetary cartel usurped the power to create money out of thin air by so-called fractional-reserve banking
, and also the impact this has. In short, the consequences is that the debt increases in the world and the banks' power increases. One of the solutions she sees for USA, and also for other countries, is a bank system which is used in North Dakota by The Bank of North Dakota
.
Lawyer
A lawyer, according to Black's Law Dictionary, is "a person learned in the law; as an attorney, counsel or solicitor; a person who is practicing law." Law is the system of rules of conduct established by the sovereign government of a society to correct wrongs, maintain the stability of political...
and author who since 2008 has become a well-known monetary reformer
Monetary reform
Monetary reform describes any movement or theory that proposes a different system of supplying money and financing the economy from the current system.Monetary reformers may advocate any of the following, among other proposals:...
, mostly because of her book The Web of Debt. She has also written several books about alternative medicine.
The Web of Debt
In The Web of Debt she analyzes the Federal Reserve and the private money cartel. The analysis is peppered with quotes from The Wizard of OzThe Wonderful Wizard of Oz
The Wonderful Wizard of Oz is a children's novel written by L. Frank Baum and illustrated by W. W. Denslow. Originally published by the George M. Hill Company in Chicago on May 17, 1900, it has since been reprinted numerous times, most often under the name The Wizard of Oz, which is the name of...
, which she believes is an allegory about the need for monetary reform. She explains how the monetary cartel usurped the power to create money out of thin air by so-called fractional-reserve banking
Fractional-reserve banking
Fractional-reserve banking is a form of banking where banks maintain reserves that are only a fraction of the customer's deposits. Funds deposited into a bank are mostly lent out, and a bank keeps only a fraction of the quantity of deposits as reserves...
, and also the impact this has. In short, the consequences is that the debt increases in the world and the banks' power increases. One of the solutions she sees for USA, and also for other countries, is a bank system which is used in North Dakota by The Bank of North Dakota
Bank of North Dakota
The Bank of North Dakota is a state-owned and -run financial institution based in Bismarck, North Dakota. Under state law the bank is the State of North Dakota doing business as the Bank of North Dakota....
.