The Lost Science of Money – Wars Are Won By Bankers, Not Armies

The Lost Science of Money: The Mythology of Money – The Story of Power

by Stephen Zarlinga

American Monetary Institute (2002)

Book Review

This book, by co-author of Congressman Dennis Kucinich’s HR 2990 to abolish the Federal Reserve (see HR2990: Historic Bill to Abolish the Federal Reserve), is one of the most amazing books I’ve ever read. At 775 pages, the lowest price I could find for a used copy was $225 from Alibris. Fortunately it’s also available in PDF format at The Lost Science of Money

It’s clear from Zarlenga’s extensive documentation and footnotes that the research for this book took decades. He essentially rewrites western history dating back to the ancient Sumerians. His goal is to expose and correct all the distortions and myths introduced into official history historians in the pay of merchants and bankers. Both are fiercely committed to perpetuating our current global monetary system in which private central banks create and control the money supply.

Among many others, two of the myths Zarlenga explodes are that the Roman Empire collapsed due to barbarian invasion (he demonstrates very convincingly that Rome collapsed due to a debasement of their currency) and the often repeated claim that excessive government printing of money was responsible for the deadly inflation in the early years of the Third Reich – as Zarlenga points out, it was actually the privately owned central Reichsbank that issued the money and created the inflation.

The Concept of “True Money,”

Zarlenga begins by establishing a clear difference between “true money,” which he defines as money with a fixed value set by law and “commodity money,” in which private merchants and banks issue and control the value of money. In the rare historical periods where governments have issued and controlled money by law, the result has been long periods of political stability and flourishing industry and culture.

The Romans enjoyed the longest continuous period (200 years) of monetary stability. Roman leaders maintained control of their money by prohibiting silver and gold coinage for domestic use – issuing fixed value copper and bronze coinage instead. In this way they prevented foreign merchants from capturing control of their money supply and manipulating the value of their currency.

He Who Controls the Money Controls the World

Zarlenga carefully traces how after the fall of the Roman Empire, control of western money shifted from Constantinople (after the 4th Crusade which sacked Constantinople – see link), to Venice, to Portuguese traders in Antwerp (after they opened the trade route around the southern tip of Africa), to Amsterdam (following the civil war splitting the Netherlands into Holland and Belgium), to London (after the Dutch prince William of Orange seized the English throne). In each case, control of the money supply was far more important than military strength in consolidating political control.

Zarlinga also clarifies, though careful research, the historical role played by the Knights Templar and Jewish merchants and money lenders in the development of global monetary centers.

The Dutch Usurper Who Chartered the Bank of England

One of the sections that interested me most concerned the founding of the Bank off England – which set the global standard for all private central banks – in 1694. Previously I hadn’t realized that the Bank of England was started by a Dutch king (William of Orange), who usurped the English throne from James II. Nor that his purpose for chartering the Bank of England was to advance the interest of the Dutch merchants and bankers who initially controlled it.

“True Money” in the Americas

I also enjoyed the detailed section outlining the history of government issued money in the US. Again Zarlenga presents extensive and convincing evidence that it was the ability of colonial governors to issue their own money that enabled commerce and industry in the 13 original colonies, as well as enabling them to organize a successful war of independence against England.

Zarlenga also describes in detail the battle Jefferson, Andrew Jackson and their allies fought against the creation of a privately controlled central bank, as well as the immense popularity of the Greenback Congress issued during the Civil War – and the immense national uprising (the populist movement) launched at the end of the 19th century to save them.

The Federal Reserve Engineers the Great Depression

Obviously the book wouldn’t be complete without a chapter on the criminal conspiracy that lead to the formation of the Federal Reserve in 1913, the Federal Reserve’s role in engineering the Great Depression 26 years later, and Roosevelt’s prolonged battle with Wall Street to implement the New Deal recovery.

The Crusades: Europe’s First Imperialist War of Colonization

The Crusades: An Arab Perspective

Al Jazeera (2016)

Film Review

The Crusades is a fascinating history of a subject that was quite new to me, as Americans rarely study the Crusades in school. Despite the title, the expert commentators represent a balance of French and English historians, as well as Muslim scholars from various Middle Eastern universities. Most of the documentary series consists of historical re-enactment of papal enclaves, battles, sieges, treaty signings and other historical events. The filmmakers use a series of maps to plot the progress of European occupation of Jerusalem and the Levantine* coast, as well the eventual liberation of these territories in the 13th century.

The documentary leaves absolutely no doubt that the Crusades were an imperialist campaign of colonization – and not religious wars, as is commonly claimed. Whenever European crusaders conquered a specific city or region, they indiscriminately slaughtered most of the inhabitants, whether they were Muslims, Jews or fellow Christians. The entire fourth Crusade (1203) was devoted to sacking the greatest Christian city in the world (Constantinople), whose residents were mainly Byzantine Greeks.

Part 4 is my favorite because it focuses on the role of the Crusades and Muslim influence in facilitating the European Renaissance of the 14th-15th centuries. When the Crusades began in 1085, the vast majority of Europeans (99%) were illiterate, whereas Middle East cities enjoyed an advanced flourishing civilization (as did India, China, Africa and North and South America prior to European colonization). When occupying crusaders were finally defeated and forced to return to Europe in 1291, they took with them advanced knowledge of Arab military tactics and agriculture, sugar cultivation, medicine, algebra, glass manufacturing and Greek philosophers ( whose work had been translated and preserved by Muslim scholars.

Part 1 – covers the role of Pope Gregory and Pope Irwin in instigating the disastrous Peoples Crusade and the first Crusade (1086-1099), resulting in the sacking and occupation of Jerusalem (lasting nearly 200 years).

Part 2 – covers the fragmented Muslim resistance to the expansion of European occupation, hindered by both religious (Sunni vs Shia) conflict and tribal rivalries. It’s during this period (1100-1127) the term hashshashin (origin of the English words assassin and hashish) came into usage, owing to the Shia assassins hired to secretly kill Sunni military commanders. Between 1127-1143 a Muslim revival led to the liberation of numerous crusader strongholds, and the launch of a second crusade by Pope Eugene, Louis VII of France and Conrad III of Germany.

Part 3 – describes the rise of Salah Ad-Din (known in in Europe as Saladin), who unified rival Muslim armies and by 1187 retook all crusader strongholds except Jerusalem. This led to the launch of the third Crusade by Philip II (France), Frederick I (Germany) and Richard the Lion Hearted (England) This was followed by the fourth Crusade, which sacked Constantinople; the failed fifth Crusade (1213); the sixth Crusade in which Frederick II (Germany) retook Jerusalem by treaty and the failed seventh Crusade, led by Louis IX of France (1248). In 1244, Muslim armies retook Jerusalem, which remained under their control until it became part of the British protectorate of Palestine with the defeat of the Ottoman Empire.

Part 4 – in addition to outlining the cultural riches Europe gained from the Crusades, Part 4 also explores how Europe’s medieval colonization of the Middle East laid the groundwork for the eventual European colonization of North Africa and the Middle East (in 1917), with the formation of the state of Israel in 1948 representing a major milestone in this re-colonization.


*Levantine – a term describing a region on the eastern coast of the Mediterranean Sea north of the Arabian Peninsula and south of Turkey, usually including the area of Israel, Jordan, Lebanon, Palestine, and Syria.