Monetary reform hero, Stephen Zarlenga, passes. His 38-minute last remarks for ~$1 million per average US household benefits, 9-minute 2012 interview to replace the Federal Reserve

Stephen Zarlenga wrote the best book on monetary history and reform I’ve encountered (The Lost Science of Money), created the largest and most influential organization (The American Monetary Institute), and organized 12 annual conferences.

Stephen’s 38-minute talk at the 2016 Monetary Reform conference that summarizes the history of framing reforms I’ll document in this article at ~$1 million per US household (there are some auditory gaps, but you’ll get the points):

RT’s 9-minute interview regarding ending the Federal Reserve:

Stephen had me present at this conference for three years, and I was able to have him twice admit in one-to-one conversations that public banking could synergize with monetary reform to unleash literally thousands of state and city legislators to recognize the power of monetary reform. That said, Stephen would never keep that position for long, arguing that creating what is used for money debt-free and as a “positive number” was the only reform needed rather than my position that having at-cost and in-house credit to use existing banking authority to also create what is used for money as a “negative number” is best to start ethical management of money supply.

Why does US national debt and total debt only and always increase?

Demonocracy’s sharp 2 minutes of the tragic-comic mathematical certainty for a society that creates what is used for money as debt; just as certain as adding negative numbers forever causes only and always increasing aggregate debt until a system collapse:

We the People endure endless criminal actions under a .01% rogue state empire, with rhetoric by both political parties’ “leaderships” most accurately defined by bestselling Yale Professor emeritus Harry Frankfurt as bullshit: the inversion of objective factual reality.

This can also be characterized as corporate media “covering” a “Big Lie” .01% crime with “fake news.” The great news, as usual, is that we have technical solutions to end all real problems. In this case, Benjamin Franklin is one of hundreds of America’s best and brightest who clearly document that monetary reform with public banking allows government to operate without taxes with abundant funding.

Most Americans are unaware that what they’re told is literally Orwellian inversion of the objective data. Given opportunity, here and now, to allow Dr. Franklin to walk you through this breakthrough available to We the People, will you invest the 10 minutes to learn?

One of ~100 game-changing areas that We the People must recognize is that our .01% wanna-be masters loot us by the trillions every year, with the core of this criminal fraud by creating what we use for money as debt owed to them. The fraud’s core is to lie to us by calling debt/credit they create out of nothing and issue to us as so-called “loans” as money, when debt is the Orwellian opposite of money.

This financial crime is similar to:

Obvious solutions other than endure debt slavery and kissing our assets goodbye:

  • monetary reform
  • public banking
  • .01% arrests for crimes annually killing millions, harming billions, and looting trillions

Data, discussion of ~$1,000,000 benefits per average US household with monetary reform, public banking:

The top three benefits each of monetary reform and public banking total ~$1,000,000 for the average American household, and would be received nearly instantly. Fed Chair Janet Yellen publicly acknowledges monetary reform as described below, but continues a history of criminal fraud in her lawful fiduciary responsibility to truthfully provide what you’re about to read. The data below include evidence of a .01% oligarchy criminally looting tens of trillions of our dollars.

Monetary reform is the creation of debt-free money by government for the direct payment of public goods and services. Creating money as a positive number is an obvious move from our existing Robber Baron-era system of only creating debt owed to privately-owned banks (a negative number) as what we use for money. Our Orwellian “non-monetary supply” of adding negative numbers forever causes today’s tragic-comic increasing and unpayable total debt. You learned these mechanics of positive and negative numbers in middle school, and already have the education and life experience to conclude with Emperor’s New Clothes absolute certainty that accelerating total debt is the opposite of having money. As a National Board Certified and Advanced Placement Macroeconomics teacher, I affirm this is also exactly what is taught to all economics students.

The public benefits of reversing this creature of Robber Barons are game-changing and near-instant. We the People must demand these, as .01% oligarchs have no safe way to do so without admission of literal criminal fraud by claiming that debt is its opposite of money.

The top 3 game-changing benefits of monetary reform:

  1. We pay the national debt in proportion to removing private banks’ ability to create what we use for money as debt in order to prevent inflation. We retire national debt forever.
  2. We fully fund infrastructure that returns more economic output than investment cost for triple upgrades: the best infrastructure we can imagine, up to full-employment, and lower overall costs.
  3. We stop the ongoing Robber Barons who McKinsey’s Chief Economist documents having ~$30 TRILLION in tax havens, and the Fed finding the US top seven banks creating shell companies to hide $10 trillion. This amount is about 30 times needed to end all global poverty, which has killed more people since 1995 than all wars and violence in all human history.

Public banking creates at-cost and in-house credit to pay for public goods and services without the expense and for-profit interest of selling debt-securities. North Dakota has a public bank for at-cost credit that results in it being the only state with annual increasing surpluses rather than deficits.

Top 3 game-changing benefits of public banking:

  1. a state-owned bank could abundantly fund all state programs and eliminate all taxes with just a 5% mortgage and credit card.
  2. a state-owned bank could create in-house and at-cost credit to fund infrastructure. This cuts nominal costs in half because, as you know, selling debt securities typically doubles the cost. For example, where I live we’re still dismantling the old Bay Bridge in NoCal from the upgrade that cost $6 billion, but the debt-service costs will add another $6 billion when it’s all paid.
  3. CAFRs (Comprehensive Annual Financial Reports) stash “rainy day” funds no longer required with a credit line from a public bank. In addition, the so-called “retirement funds” currently deliver net returns of just a few percent on good years, and negative returns on bad years (herehere). California’s ~14,000 various government entities’ CAFRs have a sampled-data total estimate of $8 trillion in surplus taxpayer assets ($650,000 non-disclosed assets per household, among California’s ~12.5 million households).

$1,000,000 of benefits per US household:

  • California’s CAFR data of ~$650,000 of assets per household is evidence of huge cash assets of similar magnitude in every state.
  • Paying the US national debt of ~$18 trillion saves ~$180,000 per household.
  • Ending state taxes in California to pay a budget of ~$170 billion saves each household ~$15,000, with similar savings in every state.
  • ~$30,000 per household savings annually: the American public would no longer pay over $400 billion every year for national debt interest payments (because almost 30% of the debt is intra-governmental transfers, this is a savings of ~$300 billion/year). If lending is run at a non-profit rate or at nominal interest returned to the American public (for infrastructure, schools, fire and police protection, etc.) rather than profiting the banks, the savings to the US public is conservatively $2 trillion (1). If the US Federal government increased the money supply by 3% a year to keep up with population increase and economic growth, we could spend an additional $500 billion yearly into public programs, or refund it as a public dividend (2). This savings would allow us to simplify or eliminate the income tax (3). The estimated savings of eliminating the income tax with all its complexity, loopholes, and evasion is $250 billion/year (4). The total benefits for monetary reform are conservatively over three trillion dollars every year to the American public. Three trillion is $3,000,000,000,000. This saves the ~100 million US households an average of $30,000 every year. Another way to calculate the savings is to figure those amounts per $50,000 annual household income (for example, if your household earns $100,000/year, you save ~$60,000 every year with these reforms). This savings represents a 60% raise for every US household’s income.
  • Related, if the ~$30 trillion hidden in tax havens by the .01% have $10-$15 trillion from Americans, and we count the Federal Reserve report that the US top seven banks have over $10 trillion stored, then the average US household could clawback ~$200,000 to ~$250,000.

Famous Americans already on record for these reforms:

Please understand that I represent likely hundreds of thousands of professionals making factual claims with objective evidence anyone with a high school-level of education can verify.

The Emperor’s New Clothes obvious pathway out of these mechanics of our “debt system” is to start creating debt-free money (a positive number) for the direct payment of public goods and services, and create public credit for at-cost loans (a negative number). I have three academic papers to walk any reader through these facts; an assignment for high school economics students, one for Advanced Placement Macroeconomics students, and a paper for the Claremont Colleges’ recent academic conference:

Teaching critical thinking to high school students: Economics research/presentation

Debt-damned economics: either learn monetary reform, or kiss your assets goodbye

Seizing an alternative: Bankster looting: fundamental fraud that “debt” is “money”

Let’s examine just some of the facts of the current US economy that demonstrates its criminal status:

For Americans still zombiefied to “believe” in America, please embrace the reality that 40% of US children live at least one year of their lives in under-measured poverty, while oligarchs most responsible literally laugh in grandiose glee of the poverty they euphemise as “income inequality.” Please absorb this 1-minute reality check:

John Perkins’ 2-minutes of context as an illustration of what the US rogue state executes:

More game-changing economic data that confirm what we receive for economic leadership is literal criminal fraud:

15-minute video of obvious solutions: Mark Anielski and Ellen Brown’s powerful 15-minute response to an interview at the Seizing an Alternative conference (and here, with videos here) with former World Bank economist Herman Daly and co-author John B. Cobb of For the Common Good (video should start at 1:04:43):

81-minute interview with Byron Dale and Greg Soderberg of (the three of us have combined over 90 years of research on this topic):


1) Of $60 trillion total debt, a conservative current interest cost of 5% is $3 trillion every year. Two trillion dollars of savings if the profits are transferred to the American public rather than to the banking industry is probably low. St. Louis Federal Reserve Bank:

2) The US GDP is ~$17 trillion. Three percent growth is moderately conservative.

3) Of the US Federal government’s ~$4 trillion annual budget, about $1.7 trillion is received from income tax.

4) Tax Foundation. Hodge, S, Moody, J, Warcholik, W. The Rising Cost of Complying with the Federal Income Tax. Jan. 10, 2006:

Demand .01% arrests for Orwellian lies and crimes

Obviously, when the truth is rogue state empire annually killing millions, harming billions, and looting trillions, the foremost response for justice is public call for .01% arrests.


The categories of crime include:

In just 90 seconds, former US Marine Ken O’Keefe powerfully states how you may choose to voice “very obvious solutions”: arrest the criminal leaders (video starts at 20:51, then finishes this episode of Cross Talk):


Note: I make all factual assertions as a National Board Certified Teacher of US Government, Economics, and History, with all economics factual claims receiving zero refutation since I began writing in 2008 among Advanced Placement Macroeconomics teachers on our discussion board, public audiences of these articles, and international conferences (and here). I invite readers to empower their civic voices with the strongest comprehensive facts most important to building a brighter future. I challenge professionals, academics, and citizens to add their voices for the benefit of all Earth’s inhabitants.


Carl Herman is a National Board Certified Teacher of US Government, Economics, and History; also credentialed in Mathematics. He worked with both US political parties over 18 years and two UN Summits with the citizen’s lobby, RESULTS, for US domestic and foreign policy to end poverty. He can be reached at

Note: has blocked public access to my articles on their site (and from other whistleblowers), so some links in my previous work are blocked. If you’d like to search for those articles other sites may have republished, use words from the article title within the blocked link. Or, go to, paste the expired link into the box, click “Browse history,” then click onto the screenshots of that page for each time it was screen-shot and uploaded to webarchive. I’ll update as “hobby time” allows; including my earliest work from 2009 to 2011 (blocked author pages: herehere).


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  • 789

    Zarlenga freely helped himself to David Astle’s work, without ever giving credit where credit was due.

    We should not replace criminal bankers with village idiots and charlatans, printing-press welfare money is no solution to anything and no help to anyone, except to the scum that operates the printing press.

    Neither Benjamin Franklin, nor Andrew Jackson (goldite), nor Thomas Jefferson (goldite), nor Peter Cooper (opposed 8-hour work day), nor Henry Ford, nor Thomas Edison, nor Jennings Bryan (hard-money man, supported Fed), not Charles Lindbergh (voted for Fed) would support this Herman’s ideas.

    Herman has to expropriate and invent heroes to underpin his tale of misleading because there are no real outstanding historical figures he can present to his victims.

    Teacher federations are just about the largest shareholders of the 2,900 federal reserve member banks; Harman’s pension cheque is the fruit of that unholy investment.

    • Carl_Herman

      You’re a bundle of joy and light, aren’t you, 789? If you’re done complaining, attacking, and failing to address the point of the article right in the title of ~$1 million per US household benefits of monetary reform and public banking, what solutions do you have to offer?

      But if you don’t have any solutions and only come here to whine, tell us, why should we listen to you?

      • 789

        one of the point is to protect the ignorant from your (and your kind’s) lies
        Your fellow-traveller Lyndon Johnson promised the dupes something similar to your million dollar hook-line-and-sinker

        would you have the courage to address the lies in your article(s) ?

        • Carl_Herman

          So you reject addressing the factual claims of ~$1 million per average US household in benefits of monetary reform and public banking. Ok, you’re welcome to call them “lies” without substantiating that claim, but this fails to meet professional and academic standards to do anything but reject your voice.

          What lies do you allege, 789? I know it’s so rare to be almost unimaginable, but I’m only interested in comprehensive objective facts for public consideration.

          So, if you’re interested, explain and document what you see.

  • Zartan

    This is a good article. The “facts” above are well presented. However, the solutions are too gentle. These banker/corps are plague, and life is a privilege; therefore, ( as Corporate Banker Scum like to claim healthcare is a privilege) I believe it is doing Gods work to take away their privileges before they Murder another BILLION, or So ,in their insatiable GREED/WAR MONGERING!
    They are simply Plague!

    There is no value in a Human who thinks that they are worth “so much,’ while everyone else is worth “so little” these people are lost souls. Life is a Privilege and they do not deserve the privilege! You cannot deal with these stubborn rebels, easy. The fight must center on Wall Street, and if violence is what they want, than they should receive it in Gargantuan Proportions!

    • Carl_Herman

      Violence against the .01% before military and law enforcement recognize .01% criminality is likely to end with our loss, Zartan, and our own arrests for violence. Tell us, how is .01% arrests for OBVIOUS crimes centered in war, looting, and lying somehow wrong or “too gentle”?

      Arrests lawfully remove rogue state leaders from power, open truth in all areas, and freedom for humanity. Why do you prefer “violence in Gargantuan Proportions” as a practical response?

      • Zartan

        Military and Police “will never recognize the crimes” because they are brainwashed to follow orders. If they disobey their masters they go to prison. With Millions ( these numbers can be had, easily) of People, the Police and Military JOIN the Violence, because they will not be at the losing end of the STICK.

        Military and Police only respond to FORCE. The US government and Wall Street need to be Forcefully Put out of Office and Arrested. I would prefer executing most of the 1-percent, and I would take full responsibility before Almighty GOD. Needless to say, A million Protesters or better will be needed in NYC and Washington.

        If I could do it alone, I would.

        There is also the unpleasant reality of teaching them a lesson. God has to do it in the Revelation, and many believe that “GOD is JESUS,” so it is only doing GODS work. These Corporate Bankers .1% are vile evil and cannot go to Heaven, so, Why should we tolerate them on Earth.

        The People have the Power! There are 6-million living in abject poverty in NYC alone. People assembled on Washington (500,000) to protest Trump and wear Vaginas on their Heads. This should be easy?

        Violence is not to be feared, violence is a tool, and to be used accordingly. God cannot do it without Violence, Who are We?

        Additionally, Citizens Arrest Rights: “Allows Citizens the use of Force if Necessary.” Therefore, it is all legal.

        • Zartan

          Additionally, there are historic precedents for “Crimes Against Humanity,” only today, we are dealing with victim numbers “an order of magnitude” above the past precedents: “with no allowances for Harsh Total War Environment” of the Accused. Simply, these people have devalued human life (for nothing except Gain) and deserve to die. They are too dangerous to allow them to exist. Besides, they feel they are entitled to “everything” so the earth cannot afford them! Again, we would be doing Gods Work.

          Oh, and if you think I am wrong … Well, they are planning a Nuclear War; SO, if America does nothing Billions will Die.

          • Carl_Herman

            Yes, these are literal Crimes Against Humanity with millions of victims dead, billions harmed, and trillions looted each and every year.

            People will do what they will. I prefer arrests by those with lawful authority.

          • Zartan

            The US citizens have lawful Authority. Citizens Arrest allows for Force. The Citizens have more Constitutional Authority than Law Enforcement.

            Those occupying “criminal offices” were selected and appointed by the one percent. The vote of the people was bought by wall street. Good Luck Trying to get them to do anything; however, they will arrest and abuse Peaceful Protesters when Commanded. This is why peace will not work: OWS tried it and that is the only reason they Failed and got Jailed!

            Numbers are needed to suffocate the Police and Military. When they see 1-million protesters, they will OBEY the will of the People, because they will know what is good for them. That is how you handle police and military, you do not let them handle YOU. This has all been done before, and when Police/Military face a crowd of 100,000, yet alone, 1-million they surrender and OBEY the PEOPLE.

  • 789

    Lie number one of these bookpeddlers is that somehow the knowledge regarding money was lost, forgotten, hidden…..
    Zarlenga may not have known (but he probably did) that this knowledge was not lost, it was available ….
    In the past 300 years there have been thousands of pages printed, countless hours of lectures spoken; but the truth is, no one cared, no one was interested, no one bothered. In the 1830s the citizens of the united States became more informed on money and banking than any time since (and they wanted gold and silver coins, not deformator ideas)

    Charlatans of the moneytary deformator school now dangle (just as Lyndon Johnson did) shiny fantacies about a great society (if we would only put finances in the hands of village idiots)

    One of the brazen lies of Herman:
    “Famous Americans already on record for these reforms”
    none of those mentioned would support any of the deformators’ ideas; but Herman can rely on the ignorance of the groupies who know even less about the views of these gentlemen than Herman

    Monetary deformators do not know the number one law of money: it is written in stone –ever since Adam and Eve first traded with the natives– and cannot be changed; money will alway behave as money does, no matter who operates the printing press

    • Carl_Herman

      Let’s look at your points, 789:
      1. You quibble over the term “lost knowledge” by Zarlenga regarding ideas and history of monetary reform that 99%+ of Americans do not know.
      2. You provide the unsubstantiated claim that “no one cared” and fail to address the evidence I provided of “Famous Americans”.
      3. You attempt to connect “Great Society” rhetoric of Johnson that has nothing to do with monetary reform to monetary reform.
      4. You name-call monetary reform as a “deformator” idea, as well as using “charlatans” dangling “shiny fantasies” to “groupies.”
      5. You provide the unsubstantiated claim that these famous Americans wouldn’t support monetary reform.
      6. You close with the unintelligible “money will always behave as money does.”

      Good luck with those points, 789.

      • 789

        typical response of your kind –very clearly supports my points– and also supports my original assertion that you are afraid to address the falsehoods in your articles; because if you did, you would have no articles left.
        all the deformators and trojan infiltrators are the same as you, they fabricate because they have nothing real to offer

        • Carl_Herman

          I’ll let interested readers choose for themselves who has something to offer, who does not, and who is infiltrating.