Merry Christmas to all from AMI !

Dear Friends of the American Monetary Institute,

We wish you a merry Christmas, and Happy Holidays! We hope you are well this evening.

The year 2012, saw a very important development for the advancement of AMI's monetary reform work!

You know that HR2990, was introduced into the U.S. House of Representatives on September 21st, 2011 by Congressman Dennis Kucinich of Cleveland, Ohio, co-sponsored by Congressman John Conyers of Detroit Michigan. So you know our nation owes these two men a very deep gratitude for their foresight, courage and action. You can read the act, with videos, at http://www.monetary.org/wp-content/uploads/2011/11/HR-2990.pdf .

Then a major development occurred in August, 2012.
Dr. Michael Kumhof and Dr. Jaromir Benes, of the International Monetary Fund (IMF) wrote an IMF Working Paper titled "The Chicago Plan Revisited." Dr. Kumhof is Deputy Division Chief of the Modeling research Dept. of the IMF. His paper is sweeping the economic world like a storm; with talks already sponsored at The Bank of England, various Universities here and in Europe, and at the Federal Reserve System itself. You can read the paper at http://www.monetary.org/wp-content/uploads/2012/08/ChicagoPlanRevisited.pdf
Dr. Kumhof realized that certain adjustments to the Chicago Plan were necessary, to assure its workability, and he made them.

The importance of this is that HR 2990 is also based on the Chicago Plan, and its' two main elements: nationalization of the Federal Reserve, and ending whats known as fractional reserve banking, come directly out of the Chicago Plan. In crafting HR 2990, several years ago, we also realized that adjustments were necessary. The adjustments we devised, had the effect of not using any debt for money at all, and we figured out how to convert all such debt into real money at the inception of the plan. In this way we devised a simplified form of the Chicago Plan, and Congressman Kucinich introduced it into the Congress. Any questions? Send them in!

Dr. Kumhof is the first, and only economist to do his duty toward my book, The Lost Science of Money. He did this in a magnificent two sentence review of my book:

"The historical debate concerning the nature and control of money is the subject of Zarlenga (2002), a masterful work that traces this debate back to ancient Mesopotamia, Greece and Rome..., he shows that private issuance of money has repeatedly led to major societal problems throughout recorded history..." (P. 13, The Chicago Plan Revisited)

Thank you Dr. Kumhof.
Friends, Now We Need Your Help
And now Friends of the American Monetary Institute, I must ask for your assistance. Can you please make a year end contribution to our operations?
The coming year, 2013, is an important one. Our most important task is to get an HR2990 equivalent introduced into the 113th Congress, which begins in January. Your donations will make this work possible.
We express our deep appreciation for your interest during past years, especially to those who have read our book, the Lost Science of Money, and have supported us with your financial contributions. You can still give in 2012, if your donation is postmarked by December 31st; if you send it in January, it will count toward 2013.

To donate, please see http://www.monetary.org/contribute

We do depend on those - they make our activities and existence possible. Thanks in large part to you, our nation is now getting closer than ever in our entire history to enacting a real, workable monetary reform program. Your donation can also take the form of ordering my book at http://old.monetary.org/lostscienceofmoney.html
Any questions, please call 224-805-2200.
Thank you all - A Very Merry Christmas - and Happy New Year -
Stephen Zarlenga
Director,
American Monetary Institute
P.S. The American Monetary Institute will continue to present monetary education materials at our home page, http://www.monetary.org We recommend that those who want to become more involved in reform go there and sign up in the red arrows box. By doing that you make it easy for us to communicate with you.

-- 
"Over time, whoever controls the money system
controls the nation."
Stephen Zarlenga
Director
American Monetary Institute
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