ELLEN BROWN – WEB OF DEBT
A NOTED COLUMNIST AND AUTHOR DETAILS HOW THE BANKS ARE TURNING YOU IN TO A DEBT SLAVE AND HOW THE AMERICAN PEOPLE CAN TAKE BACK THE POWER OF CREATING MONEY.
from THE Q & A with Ellen Brown interviewed by Mark Johnson
in HUSTLER Magazine – February 2010
In 1933, President Roosevelt summed up the truth about power in America: “A financial element in the large centers has owned the Government ever since the days of Andrew Jackson.” That financial element was—and still is—the banking system, headed by a private cartel known as the U.S. Federal Reserve. Over the years Roosevelt’s truth has been echoed many times by politicians and scholars trying to break the bankers’ stranglehold. Now, as the Obama Administration continues to bail out the banks, we may be facing the economic endgame. In her eye-opening new book The Web of Debt, attorney Ellen Brown zeros in on the fraudulent core of our imploding economy: Banks have been using accounting tricks to create money out of thin air, charging interest on it and siphoning off the profits. Brown stresses that the only feasible way to rein in the private banking cartel is to set up a competitive system of public banks, owned by the people, that act in the common interest. This would be the first step toward giving We the People back the power to create our own money.
HUSTLER: How is our money currently created?
ELLEN BROWN: All of our money is created as a debt to private banks. We have no actual money in our monetary system except for coins, which are created by the government. Coins compose a tiny fraction of the money supply. The rest is created by banks in the form of loans. That includes paper dollar bills or Federal Reserve Notes, which compose about 3% of the money supply. Federal Reserve Notes are created by the Federal Reserve, a privately owned banking corporation, and lent to the government and to other banks. But 97% of all money exists only in ledgers, not as actual circulating currency.
When I go into a bank and ask for $100,000 to buy a house, where does that money come from?
They will write your mortgage up on one side of their books as an asset to themselves because you will pay them money over time. Then they will write the same sum on the other side of their books as a liability because that amount becomes your account that you write checks on. This is called double-entry bookkeeping. They have created a plus $100,000 and a minus $100,000, which comes out to zero. They’ll say that their books balance. The bookkeeping entries on the liability side are what circulate in the economy as “money.” Money has actually been added to the money supply. And that money creation is at interest, so there is always more money owed back than is put out. The money that banks lend is not from preexisting deposits. It is new money that did not exist until it was lent.
But if I write a check to the mortgage company, someone is taking that out as cash somewhere along the line.
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Posted in Hustler Magazine
Larry Flynt interviews Woody Harrelson
Woody Harrelson recently stopped by the Hustler headquarters where Larry Flynt interviewed him for the June 2010 issue of Hustler Magazine. Woody, soon turned the tables and started interviewing Larry.
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Posted in Hustler Magazine
Party with Barely Legal Babe, Tessa Taylor
The adorable and sexy Tessa Taylor is throwing a party to commemorate her cover appearance on our very own Barely Legal magazine. She’ll be on hand to meet fans and party down with adult industry elite (including yours truly) tomorrow night at the Les Deux night club in Hollywood. We were able to get the naughty nubile on the phone; “I’m so excited about my party on the 3rd. It’s the first time I’ve ever had any party like this, and I’m very thankful to everyone involved who are making it happen. It’s going to be a lot of fun, so everybody come down and party with me”.
Located at 1638 North Las Palmas Avenue the party is slated to start promptly at 10pm. This is strictly an upscale affair and a dress code will be in effect!
To see Tessa wearing nothing more than a smile, join BarelyLegal.com today!
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Posted in Hustler Magazine
Larry Flynt Wins Big
As previously reported, a jury of his peers recently sided with Larry Flynt in his lawsuit against his nephews, Jimmy Flynt, Jr. and Dustin Flynt, finding that the nephews did not have the right to cash in on their famous uncle’s last name. The jury found that the name Larry Flynt was a valid and protectable trademark owned by the famous adult business mogul. On December 28, 2009, United States District Court Judge, A. Howard Matz, made it official when he handed down a permanent injunction that prohibits Jimmy, Dustin or any company owned by them from using the name Flynt in isolation on any adult products or services. In addition, the injunction also requires Jimmy and Dustin to turnover any “Flynt” websites utilized by the nephews, place a disclaimer on any of their websites and products, and to destroy their inventory of materials that bear the name Flynt in isolation.
As a further blow to the nephews, the Judge also signed a judgment finding that they were not the prevailing parties on a state law claim for violation of Larry Flynt’s right of publicity. This contradicts previous statements made by the nephews’ lawyer, Daniel DeCarlo, Esq., that because Larry did not win on his right of publicity claim that his clients’ were entitled to their attorneys’ fees.
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Posted in Hustler Magazine
Casey Parker Calls it Quits
Former Hustler cover girl and the all American surfer girl you wish lived next door, Casey Parker is calling it quits from the jizz biz. Getting her start back in 2006, Ms. Parker went on the grace the cover of the May ‘07 issue of Hustler Magazine as well as the February ‘07 issue of Barely Legal. From her myspace:
“Hello everyone! So sorry I haven’t written in months, I have been super busy with school.–I haven’t been doing anything related to performing for many months now and I just wanted to say:
So it’s been a long time coming, but I wanted everyone to know that I have officially stopped performing in movies and on stage. It was a lot of fun while it lasted, but at some point I had to finish having my fun and get back to real life. I originally got into the business to explore my sexuality, and I did, and it was a lot of fun. I will never regret getting the chance to do that. In the industry there were some amazing people, and of course, some not so nice. I will say that I learned a lot about myself as a person, businesswoman and about what I want out of life. So here I go everybody.
I know it will be difficult for you to find another blonde in the industry…there are so few…haha j/k”
To see Casey without any clothes on, join Hustler.com today!
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Posted in Around the Web, Hustler Magazine
