Event Type: 
Session 4: Saturday, June 2nd: 4:00 - 5:50pm
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LOST SCIENCE OF MONEY by Stephen Zarlenga;;
Description/Abstract of your Event: 
The essential feature of CAPITALISM is macro-usury – the misuse of the money system. The U.S. monetary system is the mysteriously-public-private Federal Reserve, but what is not taught in our schools and media is the fact that our money is created by private commercial banks, not by our government. Paper currency and coin account for only about 3 percent of the U.S. money in circulation; the other 97 percent is created by private banks when they make loans to individuals, businesses, and governments. Banks create money simply by entering the loan amount into the borrower’s account. In effect, they create money out of thin air, then charge interest to the borrower. That interest is their profit – in other words they don’t have to work for their pay but, like parasites, they feed off all the rest of us working people. This is capitalism’s most essential feature and completely missing from the study and definition of capitalism. Come hear from a group of monetary reformers who reside here in New York City. The panel will explain how the system works and how it creates wealth inequality, debt, poverty, ecological destruction, and corruption of our democracy by Big Money. This knowledge will strengthen the Left as a force for change.


Phyllis was a public school teacher for 36 years – a reading specialist and a teacher trainer. She is a longtime member of the New York Society for Ethical Culture and was its Sunday School Director. She has done a series of talks on health issues, and programs on the environment and climate... Read more
Mr. Butterfield has been an architect and engineer, practicing in New York City for the last forty years. He holds several patents, and is currently working on marketing his 'Flexible Enclosure for Fish Farms', which will enable commercial ocean fish farms to raise fish without... Read more
Ann began her interest in monetary systems by studying the founding of the Federal Reserve and the history of money from ancient times to the present. She completed a two-year class facilitated by Sue Peters and based on Stephen Zarlenga's comprehensive history, "The Lost Science of... Read more
Jerry holds a B.A. in Literature from his hometown public institution of higher learning, Cleveland State University. He has lived in New York City since 1987, working as a proofreader and copy-editor. Jerry was an active member of the Labor Party in the ’90s and of the Green Party in the ’00s. He... Read more