rn: Grip of Death: book on money


Jan Slakov

Date: Wed, 24 Nov 1999 08:30:31 -0500
From: Nurev Ind Research <•••@••.•••>
Organization: Nurev Independent Research
To: Activist List Mail to <•••@••.•••>
Subject: [Fwd: Book: Grip of Death (debt)]

-------- Original Message --------
Subject: Book: Grip of Death (debt)
Date: Tue, 23 Nov 1999 23:33:20 -0600 (CST)
From: "Emilie F. Nichols" <•••@••.•••>

From: Connie Fogal <•••@••.•••>
Date: Sunday, November 21, 1999 6:16 PM
Subject: Update Rowbotham Venues etc re Grip of Death

Check out : The Claire Foss Journal.......http://cfoss.com

Update on venues of Rowbotham presentations and other information re his
book called:

“A study of Modern Money, Debt Slavery, and Destructive Economics”
Jon Carpenter Publishing, Charlbury Oxfordshire, 1998 ISBN: 1897766408

TO ORDER, post your cheque for 15.00 sterling to Jon Carpenter
Publishing, 2 The Spendlove Centre, Charlbury OX7 3PQ, England; or phone
or fax your credit card details to +44 (0)1689 870437.

Or e-mail


* Mort-gage(O.F.) “A pledge unto death” Oxford Dictionary
Thanks to Steven Rowat for finding the url set out below with excellent
review and good comments on Rowbotham'sbook, The Grip of Death:


Steven Rowat says the review is easy reading and that  probably the two key
points of the book are :

1) fractional reserve banking debt-money (that must pay back interest)
drives the world's corporate growth model indefinitely, and
2) the creation of this money is in the hands of private profit-seekers,
instead of the government, which is wrong.

P.S. To save you the trouble of going to the site, here's the text as
Steven Rowan copied it
along with notable comments:
       A - I N F O S  N E W S  S E R V I C E

The Grip of Death

A study of modern money, debt slavery and destructive economics

by Michael Rowbotham

This lucid and original account of where our money comes from explains why
most people and businesses are so heavily in debt. Exploding more myths
than any other book this century, it's all about subjects very close to
home: mortgages, building societies and banks, food and farming, transport,
worldwide poverty, and what's on the supermarket shelf.

It explains
  why virtually all the money in the world economy has been created as a
debt; why only 3% of UK money exists as 'legal tender'; and why in a world
reliant upon money created as debt, we are kept perpetually short of money.
  how and why mortgages are responsible for almost two-thirds of the total
money stock in the UK, and 80% in the US.
  why business and corporate debt is at its highest level ever.
  why debts mean that a small farm can be productively very efficient, but
financially not 'viable'.
  why national debts can never be paid off  without monetary reform.
  how debt fuels the 'need to grow', revolutionising national and global
transport strategies, destroying local markets and producers and increasing
waste, pollution and resource consumption.
  how 'Third World debt' is a mechanism used by the developed nations to
inject ever-increasing amounts of money into their own economies, and why
debtor nations can never repay the debts.
  why politicians who rely on the banks for money can't fund public
  why 'debt-money' is undemocratic and a threat to human rights.
The author proposes a new mechanism for the supply of money, creating a
supportive financial environment and a decreasing reliance on debt.
Michael Rowbotham is a teacher and writer.
15  pbk   352pp   1 897766 40 8


"Forget everything you thought you knew about money. In terms the lay
person can understand, myth buster Rowbotham fearlessly reveals deeply
disturbing truths about our debt-based money system that befuddle bankers,
economists, and politicians. An essential self-education tool for anyone
interested in creating a world that works, pushing the issues further and
posing the implications more bluntly than I have seen anywhere else."

David C. Korten, author, When Corporations Rule the World, and board chair,
The Positive Futures Network

"A trenchant analysis of the current arrangements for credit creation, a
powerful indictment of their baleful consequences, and a persuasive case
for reform."

Prof. Bryan Gould, Vice-Chancellor, University of Waikato

"As a result of fractional reserve banking over 90% of our money supply is
loaned into existence by commercial banks and thus must grow by enough to
at least pay the interest on the loan by which it was created. This gives a
basic growth bias to the economy. Fractional reserve banking also transfers
to private hands the state's traditional right to issue money, and does so
in a way that increases the cyclical instability of the  economy. The
corrective call for 100% reserve requirements has been made periodically
not only by so-called 'monetary cranks', but also by  economists of
impeccable reputation such as Frank Knight and Irving Fisher. Michael
Rowbotham's forceful discussion is a welcome revival of  an issue that has
been too long dormant."

Prof. Herman E. Daly

"An incisive and readable book: it opens up in a very fresh way what money
is and how it works (and doesn't work)."

Rt Rev Peter Selby, Bishop of Worcester

THE GRIP OF DEATH offers unique insights into some of the world's most
pressing problems:
  the financial crisis in south-east Asia is due, not to poor economic
management, but to the reliance of the world's economies on banking, which
is an inherently unstable mechanism.
  most people in developed countries are up to their necks in debt, chiefly
due to the system of buying homes with mortgages. But this system is itself
entirely illegitimate: governments use the mortgage system as a privatised
means of creating money, highly profitable for the banks and lending
corporations but crippling for the borrower.
  the refusal to fund adequate public services  governments say "We
haven't got the money"  is down to a refusal by governments to create and
supply money themselves according to need. Instead, they entrust the supply
of money to banks, who only create money as a debt where interest can be
charged on it. Virtually all money is thus created as a debt, purely as a
profit-making exercise. But this is a choice made by government.
  all Third World debt should be repudiated. As this book shows, most such
debts were and are created by the institutions of the developed countries
as a mechanism for injecting more money into their own economies. They were
never intended to finance the underdeveloped world or relieve poverty, and
they don't.
  the UK government is cutting expenditure in order to reduce the national
debt. Yet national debts can never be repaid. In any case the UK debt and
annual deficit is far lower than in many economically successful European
countries. So why will the government not stop this charade and pay better
welfare and health benefits and fund education properly?
All in all, a crippling attack on the popular assumptions surrounding
economics, money and borrowing, and the relationship between the rich
Northern world and the poor South.

A PRESENTATION BY MICHAEL ROWBOTHAM , a British Scholar and author

Sponsored by C.O.M.E.R.(Committee on Monetary and Economic Reform), The
Defence of Canadian Liberty Committee (DCLC), the Canadian Action Party
(CAP), Citizens Concerned About Free Trade, Canada's National Interest
Council, C.C.P.A,and other possible sponsors including C.H.O.I.C.E.S., and
The Human Rights Institute

Updated venue information:

In Vancouver, B.C.   Wednesday, November 24 ,1999
at the Empire Landmark Hotel, 1400 Robson St.
7:30 p.m. Wednesday,
Admission: by donation
Contact Jim Jordan 604 277 4139 e mail c/o •••@••.•••

(Also airing either  on the John Pifer radio show
at 9:00 AM  Wed. Nov 24 on AM1040 Vancouver BC
or on David Ingram Rogers TV  Vancouver
to air at 9:00 AM, 1:00 PM and 11:00 pm on Wednesday Nov 24)

In Vernon, B.C.  Thursday November 25 , 1999
at the Vernon Lodge
7:30 p.m.
Admission: suggested donation of $5.00
Contact Clair Foss 250 547 9798

In Winnipeg Sunday November 28
The Imperial Veterans Branch of the Canadian Legion
7:30 PM
280 St MarySt. (corner of Smith and St Mary)
Contact: Lisa Shaw  CCPA-MB Communications Research
Phone: 204 - 925 - 8781

In Toronto November 29, 1999
  OISE, 252 Bloor St. W.
(St. George subway)
7:30 p.m.
Admission free (Donation
Phone: (416) 654 - 3499) •••@••.•••

In Peterborough, Ontario November 30
St Andrews Church
441 Rubridge St., Peterborough Ont.
7:00 PM
Contact Herb Wiseman
Phone: (705) 741 - 4452   •••@••.•••

In Montreal December 2
Potential venues McGill or Concordia University.
Contact Peter McCrindle
Phone: (514) 428 - 0921 •••@••.•••

In Ottawa Friday December 3              (Note it is not the 1st as
previously broadcast)
Unitarian Church  Hall
30 Cleary Ave.
7:30 PM
Free admission, donations to defray costs accepted.
David Creighton
Phone: wk. (613) 763 - 6402  •••@••.•••
home: (613) 728 - 5716


In Edmonton November 26-27
Contact Mark Anielski for details
Website: http://www.bus.ualberta.ca/cpmm/
Email: •••@••.•••
Phone: 780 - 492 - 1371

TO ORDER, post your cheque for 15.00 sterling to Jon Carpenter
Publishing, 2 The Spendlove Centre, Charlbury OX7 3PQ, England; or phone
or fax your credit card details to +44 (0)1689 870437.

Or e-mail


Tony Gosling

Personal/research web pages  http://www.tlio.demon.co.uk/index.htm
31 Exmoor Street, Bedminster, BRISTOL, BS3 1HD, England.
Home: Tel. +44 (0)117 908 0047    Work: EVNUK Tel. +44 (0)117 922 4391

"Politics is the shadow cast over society by big business"  John Dewey


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