The American Monetary Institute is the world’s leading organization for understanding monetary history and how to reform monetary policy. These six articles reprint AMI’s principle information, available at AMI’s website, with their express permission to share widely: 

  1. Explaining the need for monetary reform: the heart of our economic crisis
  2. Monetary history: synopsis of Stephen Zarlenga’s The Lost Science of Money
  3. How to reform our monetary system: understanding the mechanics of creating money
  4. The American Monetary Act: monetary reform legislation for Congress (part a and part b)
  5. FAQ of monetary reform
  6. What can Americans do for monetary reform?

This article is part 6. The other titles above will have live links as I add one each day. The following eight paragraphs are a common introduction that begins each article.

The Lost Science of Money (LSM) is a superlative accomplishment of historical analysis. It explains with academic professionalism how money has historically evolved and its capture by oligarchic corporate, political, and media “leaders” for their own use rather than public benefit. Stephen Zarlenga is an unsung hero for his years of work in reviewing nearly a thousand books on money, its creation, and its manipulation. LSM is the most historically authoritative, most comprehensively researched, and most important book on monetary reform available. It is clearly written for all readers to understand this topic of trillions of dollars of yearly benefits for the American public. 

As the founder and Director of AMI, Mr. 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. 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.
Our “modern” banking system is a Robber Baron-era cartel, expert only in creating price bubbles, bursting them, consolidating power, using political control for taxpayer subsidization of trillions of our dollars (so-called “bailout”), and then repeating the process. It is an Orwellian comic-tragedy of economic management; fraud to consolidate money and power to an elite group of families and organizations.
My summary of leading economic professionals alert to these facts and communicating them to the American public, along with the obvious solutions, is here. The background paper I have for students to understand monetary reform is here. A summary of many of America’s brightest historical minds who have argued for monetary reform, here. The evidence that corporate media doesn’t report these obvious solutions because they are in collusion with the current power structure of government and money, here. Evidence that professional economic journals are controlled by the Federal Reserve to censor any information that would provide an alternative monetary system, here. A simple example is censoring the obvious alternative of paying the national debt rather than increasing it; that is, shifting from a government-created “debt supply” to an actual “money supply.” Corporate media near-absolute silence on these issues is revealing and stunning in its implications.
I also work with Ellen Brown, author of the outstanding Web of Debt, and other colleagues for states’ legislatures’ understanding of monetary reform, and in particular their legislative option to create state-owned banks. Under existing bank laws, states could issue their own credit to purchase their outstanding debt. If California were to do this, they would save $5 billion every year on their state debt interest cost. To put that number in perspective, California could rehire their 20,000 laid-off teachers (I am one) and still have $3.4 billion left.
The power of a two-pronged strategy to work for national monetary reform while educating state legislators of the advantage to their state of creating their own credit rather than going to banks is the education of over a thousand powerful law-making partners all across the US. As a professional educator, I can tell you that research agrees with our observation that education is greatly helped by linking what students (state legislators) already understand (their state economic crisis) to their interests (solving their state crises), and then to the broadest curricular objectives (national monetary reform).
A weakness in any monetary reform strategy is its “Catch-22” nature. The nation’s money supply (not the current debt supply) needs to be managed at a centralized national level. However, the current central national management are the criminal frauds keeping Americans as debt peons. The structural answer is simple, but requires honest management: transparency and public accountability. A probable scenario for Americans to achieve an honest and accountable monetary system is a Truth and Reconciliation process to uncover all the facts keeping our systemic fraud in place.
Mr. Zarlenga and I have discussed this political strategy; he currently disagrees. His view is that investing time for state use of the current non-public-serving system is a distraction from the real reforms required at the national level. His views are expressed in the following and on AMI’s website. I observe the lack of movement in Congress, the sterling example of North Dakota being one of only two currently solvent states in the US with their state-owned bank, and prefer the benefits of unleashing thousands of state lawmakers for national monetary reform step-by-step from seeing their state benefits first.

You Can Help Enact Monetary Reform at the National Level
There Will Be a National Currency – we’d better fix it!
Money is a national matter in America. We enjoy being able to interact economically with Americans in other communities – to buy and sell to them without exchanging California money into Illinois or Dallas money, etc. The problem arises when the citizenship has not paid enough attention and that national money system has been privatized, corrupted and abused as it is now –– even turned against humanity.
Our present viciously structured monetary system came about over nearly a century, through the granting of uncalled for privileges to corrupt interests through bad Federal laws. It’s not the result of laws of nature or “economics.” Its theories and justifications are not supported by evidence or our historical experience. Therefore the situation can be corrected by an awareness of history, and thoughtful activity in replacing those poorly conceived laws with good statutes that affirm our democratic system of equal rights. That means educating voters and representatives and pressuring them through the ballot box to re-structure our money system and place it under our constitutional system of checks and balances.
Since this process must involve Federal laws, legislative activity at the national level is necessary. Lawmakers at the national level must be made to understand how this crisis is within their power to solve through monetary reform. This is achieved at the national level when enough of our 535 Representatives and Senators support it, for example by passing the American Monetary Act.
But Much of our Reform Activity Must be Directed Also at the Local Level
As important as it is to reach Congress, it is just as crucial to reach state and local lawmakers. We must make them aware how national monetary reform, opens the way for real world solutions to the “insoluble” local money problems they face each day, operating at their respective level of government.
Local governmental bodies are in deep fiscal trouble at every level from School Board, to Village, to Town and City, to County, to State.
Therefore in conjunction with the national approach, state focused campaigns must be organized and focused at each of these levels. None of this is easy, but take heart when you consider that what we are proposing would be immensely beneficial to 99.5% of the population. Even those presently gaining unearned riches from the present faulty system, would benefit from the improved quality and security of life.
How You Can Help Achieve Reform
Local elected officials are much more reachable and open to citizen input. You probably know some now. You also know people who are active in public spirited groups. Make up a list of such contacts you now have or of your friends who have such contacts. Become familiar with this pamphlet. If you need more info, read The Lost Science of Money book. Talk with your contacts about monetary reform, and give them a copy of this brochure. They’re available at discounts – 5 for $20; ten for $35, postpaid. With all such orders we’ll send a detailed suggestion kit on how to proceed. An order form is on the back cover.
Local representatives can and will put much pressure on the Congress to act, once they know it’s the only way to solve their local fiscal problems.
The AMI will help you organize a free seminar in your area, and provide expert speakers. The AMI is organizing local chapters around the country to help educate our fellow citizens and representatives in the area of monetary history and reform. We do this in a way that’s understandable to the average newspaper reporter. The Lost Science of Money book is written in highly readable form – we intend to be understood! We invite you now to join with us in this drive to achieve a just money system – to right this wrong that has plagued our nation and humanity for so long.
Here is how you can help to do this:
*Order and help distribute additional copies of this 32 page pamphlet (same as a 96 page book!)
*Purchase and read The Lost Science of Money book.
*Join or help set up a local chapter of the American Monetary Institute in your area.
*Become a supporting member of the AMI, by pledging to donate $48 or $75 (or more) per year.
*Attend the next annual AMI Monetary Reform Conference in Chicago and stay in touch!
Friends, We can Make this happen – lets do it
Attend the AMI Monetary Reform Conference, Each September
Make your plans now to attend The American Monetary Institute’s 6th Annual Monetary Reform Conference at Roosevelt University in Chicago, Sept. 30 to Oct. 2, 2010in beautiful downtown Chicago. True monetary reform, not mere regulation, is needed to secure justice and peace; to fix our economy and move humanity away from a World dominated by fraud, warfare and ugliness towards a World of justice and beauty. The conference presents the minimum initial steps to begin this process and put time on the side of justice instead of against it. Join with us to achieve positive results for America and the World.
A Different Kind of Monetary Conference
The situation knowledgeable monetary reformers find ourselves in is that after years of studying monetary reform, we already know most of the broad shapes that monetary reform must take. We know from experience that these views have stood the test of history, and the many challenges from those with less experience or operating under misconceptions or pursuing non-reform agendas. Rather than continual arguing over these main themes, it is time for those of us who understand to move forward to implement the elements we know must be part of any good reform.
What are these broad national parameters supported by over 3,000 years of history? Our money system must shift away from private control and be under governmental control. Away from commodity money notions and from fractional reserve banking – monetizing private credits and loaning them into circulation at interest. It must establish money issued interest free by government and spent into circulation for the common good and must be morally grounded in fairness.
Not seeking blind trust, we’ll continue explaining why the proposals are beneficial and moral, and present the historical evidence for that. We’ll answer any serious challenges, and those arising from plain misunderstanding. We may invite selected spokesmen from differing reforms to present their case. But we’ll do it within a context of advancing the reform agenda, making necessary adjustments as we proceed. Dissenters don’t have to join in the reform phase; but neither need we procrastinate, waiting for all to experience their monetary epiphanies, before moving forward.
The Conference Focuses on Three Themes:
The Monetary Reforms: Researchers will describe the reforms advocated, presenting both the logical and historical basis for them, and the mechanics of implementing them. Question and answer periods and panel discussions can air any doubts about the desirability of the reforms and suggest refinements and discuss research and thinking methodology.
Achieving the Reforms - What we can do now: Political and Monetary Activists give the benefit of their experience in educating, raising public awareness, organizing and motivating people to enact public policy decisions. The American Monetary Act will be analyzed including strategies for getting it supported.
Using the Reforms: How a properly constituted money power in government will “promote the general welfare,” focusing on Infrastructure which the American Society of Civil Engineers tells us is needed over the next 5 years to make our public infrastructure safe. This includes the “Human Infrastructure” of Health Care and Education. Proper monetary reform will allow creation of energy efficient, eco-friendly cities of the future; well within the reach of today’s technology. Food supplies can be improved through Farming Parity proposals to maintain family controlled environmental farming. And Yes, the opportunity for a dividend for every citizen!
Each area identifies another constituency to support monetary reform.
This conference is open to the public*, and to properly organize it the AMI requires a minimum donation of $395 per attendee; Discounts for early registrations. This includes substantial conference materials and aids, daily coffee breaks, a Get Acquainted Reception and a Celebration Dinner and Beach Barbecue. Hotel costs are separate and available at group discounts. We say minimum donation because affluent persons who want to help out with larger donations are strongly encouraged to do so. It enables us to extend attendance scholarships to students. Discounts for students at $175.
We look forward very much to seeing you and advancing monetary reform to the next level.
Please visit AMI’s website for latest conference info at
Speakers included: Congressman Dennis Kucinich; Prof. William Black (S& L crisis resolver); Dr. Ed Chambers (trained Barack Obama in community organizing); Prof. Nic Tideman (White House Economic Advisor); Dr. Michael Hudson (author. Super Imperialism); Richard C. Cook (former Treasury Analyst, NASA whistleblower); William Bergman (former Federal Reserve officer and whistleblower); Dr. Cay Hehner (Director, N.Y. Henry George School); William Hixson (author, Triumph of the Bankers); Dick Distelhorst and Robert Poteat (veteran money reformers); James Gibb Stuart (“Godfather” of Brit money reform); Chris Lindstrom (great great grandson of John D.
Rockefeller and Senator Nelson Aldrich); Prof. Paul Davidson (editor, Journal of Post Keynesian Economics); the late Charles Walters (founder of Acres, USA); and many, many more.
*The American Monetary Institute as part of its responsibility in sponsoring the Conference reserves the right at its sole discretion and without public or private explanation, to restrict attendance at this Conference to persons it considers will enhance the purposes of the meeting, as detailed above.
“The Lost Science of Money” – a remarkable book by Stephen Zarlenga
*Traces the money power through three and a half millennia from barter to the Euro.
* Draws fascinating, previously lost monetary principles from ancient Greece and Rome, from the experience of the Moslems, Venice, the Templars, the Jews, the Bank of Amsterdam and Bank of England, and the Federal Reserve System.
*Shows that the question of usury is far from settled, and that monetary reform is more a matter of morality and law than of economics.
*Demonstrates that a good money system must be based in law, not in commodities.
*Defines the essential elements needed to remove structural injustice from our money system and presents appropriate legislation to accomplish that.
ISBN 1-930748-03-5
1. The Origins of Money Systems
2. Rome’s Bronze Nomisma: Better Than Gold
3. A Monetary View of Rome’s Decline
4. Re-Instituting Money in the West
5. Crusades End Byzantium’s Monetary Control
6. Renaissance Struggles For Monetary Dominance
7. The Scholastics – The Moral Economists
8. 1500 - History’s Pivot: Power Shifts from
9. The Rise Of Capitalism in Amsterdam
10. Transferring Capitalism to England
11. Hatching the Bank of England
12. Political Economists: Priesthood of the Bankers Theology
13. The Usury Debate Continues
14. U.S. Colonial Moneys
15. The Money Power vs. the Constitution
16. U.S. Government Money vs. Private Money
17. The Greenbacks: Real American Money
18. Nineteenth Century Monetary Crimes – The Great Deflations
19. Establishment of the Federal Reserve
20. Federal Reserve System Wrecks America The Mediterranean to the North Sea
21. Germany’s 1923 Hyper-Inflation under a Private Central Bank
22. International Monetary Organizations
23. The European Monetary Union
24. Proposals for U.S. Monetary Reform
Chapters 1 through 23 present the case histories and then Chapter 24 applies them to the present. What needs to be done in the present based on what history teaches us about the money power, to place time on the side of justice!
It is a Hardback, 736 pages, Selected Bibliography, Index. With High quality Smythe Sewn library binding with “eternal” (300 year) paper and double coated jacket. We strongly recommend this book for your permanent family library.
Armed with this knowledge and understanding, you’ll be empowered to speak truth to power and become a real force for monetary reform. An order form is on the back cover of this brochure. (Satisfaction is guaranteed)
“You are right that I have a long-standing interest in monetary matters…This book looks marvelously helpful and has some stunning historical vistas of the whole concept of media of exchange.” - Mr. Hugh Downs, Former “Tonight Show” co-star; decades with ABC News, including co-hosting “The 20/20 Show.” Presently affiliated with the Hugh Downs School of Broadcasting at Arizona State University. Youngsters who don’t know Hugh – He’s a wonderful American you’d love, respect and believe. Nobody replaced him.
The American Monetary Institute
PO Box 601, Valatie, NY 12184
Tel: 518-392-5387