<html><body><div style="color:#000; background-color:#fff; font-family:times new roman, new york, times, serif;font-size:12pt"><div style="RIGHT: auto">Dear All,</div>
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<div style="RIGHT: auto"> I just received an email the other day by Ellen Brown. authoress of the Web of Debt<VAR id=yui-ie-cursor></VAR>. It began with <SPAN class=tab style="RIGHT: auto"> WOW as the content of my post just happened to synchronize with an article she was just going to write about fractional reserve banking as probably not being the system used in credit creation by banks. She connected this issue with Kucinichs NEEDS Act, and with AMI which notably popularised FRB. To help her I sent some links which I hope she will use from Steve Keen, and Chris Cook..She seems now to agree totally with them that banks when they create a loan quickly back it up with loaned money notably coming from other banks, and the Central Bank unlike FRB ...</SPAN></div>
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<div style="RIGHT: auto"><SPAN class=tab style="RIGHT: auto"><A onmousedown='UntrustedLink.bootstrap($(this), "xAQEuDsh1", event, bagof({}));' href="http://www.atimes.com/atimes/Global_Economy/MG27Dj02.html" target=_blank rel="nofollow nofollow"><FONT color=#3b5998>http://www.atimes.com/atimes/Global_Economy/MG27Dj02.html</FONT></A><BR><BR><A onmousedown='UntrustedLink.bootstrap($(this), "3AQF2pBfQ", event, bagof({}));' href="http://www.atimes.com/atimes/Global_Economy/MH04Dj02.html" target=_blank rel="nofollow nofollow"><FONT color=#3b5998>http://www.atimes.com/atimes/Global_Economy/MH04Dj02.html</FONT></A></SPAN></div>
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<div style="RIGHT: auto"><SPAN class=tab style="RIGHT: auto"><A style="RIGHT: auto" href="http://www.nakedcapitalism.com/2009/02/steve-keen-roving-cavaliers-of-credit.html">http://www.nakedcapitalism.com/2009/02/steve-keen-roving-cavaliers-of-credit.html</A></SPAN></div>
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