8th Annual AMI Monetary Reform Conference, 2012

Thursday, 20th of September 2012
11:00 AM CDT

The American Monetary Institute announces it’s 8th Annual AMI Monetary Reform Conference
Sept. 20 – 23, 2012 at University Center in downtown Chicago with new state of the art audio/visual facilities, across the street from Roosevelt University, site of several previous conferences.

Registration is $395 and available until September 13th, after which it becomes late registration for $495.

Act now and register by phone (224-805-2200) or e-mail (ami@taconic.net) or through PayPal.

Dear Friends of the American Monetary Institute,

Here is our 2012 Conference brochure and schedule. Photos, bios and topics of speakers are presented first; the actual schedule of their speaking times will be added later. Additional outstanding speakers are being confirmed now. Days and times of presentations are of course subject to adjustment…

Congressman Dennis Kucinich has reintroduced HR 2990 which reforms our money system on the lines advocated by the AMI. It turns a corrupt private debt system based on privately created debt into a government money system based on government created money. He will present at this conference if the Congressional schedule allows.

Dr. Michael Kumhof, the Deputy Division Chief of the Modeling Division of the Research Department of the International Monetary Fund (the IMF) has completed a study of the Chicago Plan, on which HR 2990 is based, using modern computerized techniques, and has come to some highly interesting conclusions. These will be the subject of talks and panel discussions featuring Dr. Kumhof at the conference.

Several talks will focus on what HR 2990 will do for America; how we can get existing organisations and unions to support it, and can help get it passed into law, including; how we will get it introduced in the next Congress. This involves overcoming some of the prevalent psychological pessimism purposely spread by various cults. The banking disaster, created and perpetuated by false people and false economic and monetary ideas, now pose a clear and present danger to the survival of the species. History demonstrates they don’t learn from their mistakes. Therefore we must transform the disaster they created into an opportunity to achieve real and lasting reforms for humanity.

We’ll focus on why a moral approach is at the heart of successful reform. To those who still support the falsehood of using debt in place of money, whether issued privately or by state owned banks doing the same thing, and dumping more debt onto our economy, we say “Stop doing destructive nonsense – Learn to do good!” There is no excuse to miss this opportunity to reform an obviously flawed monetary system, in favour of the status quo.

Warm regards,
Stephen Zarlenga
Director, AMI

This is the program schedule:

Thursday September 20th 

TimeThursday SpeakersTitle or Topic
1:00 PMStephen Zarlengaopens the Conference with
AMI’s Purpose, Objectives and Methodology
2:00 PMRobert Poteat On the Case for Monetary Reform
2:50 PMGreg ColeridgeSpeaks on HR 2990: The Solution to Any Coming Financial Tsunami
3:30 PMSteven Walshspeaks on How The Chicago Teachers Union Came to Support HR 2990
4:00 PMElizabeth KucinichOn Advocating for Monetary Reform
5:00 PMDinner & Social

Friday September 21st

TimeFriday SpeakersTitle or Topic
9:00 AM Stephen ZarlengaBrief Conference announcements 
9:15 AMStu HoffmanHow the AMI will Move Forward 
10:15 AM Dr. Michael Kumhof On The Chicago Plan Revisited
11:15 AMProf. Steve Keen On Capitalism, Credit, Crises and Asset Markets
12:15 PMLunch
1:15 PMProf. Kaoru Yamaguchi An Economic Modeling of HR 2990 and the American Monetary Act
2:15 PMJamie WaltonOn HR 2990 & The American Monetary Act
3:15 PMBreak
3:30 PMWilliam BergmanNational Emergency Powers and
their Implications for Monetary Policy
4:00 PMJoseph PijanowskiOur Forgotten Cornerstone of Wealth Creation
4:45 PMMark Pash Can Progressives Guide Monetary Reform?
6:15 PMDinner & Social
Sunday September 23rd, AM:
TimeSunday SpeakersTitle or Topic
9:00 AMDouglas Wolfe Describes His Monetary Discussion of HR 2990 With the Vatican, and their Positive Reaction.
10:00 AMOpen session and critiques by participants;other reform ideas can be examined briefly, but be ready to take heat!
Carol BrouilletProgressive Strategies for the Monetary Reform
Joseph Bongiovanni Blogging Effectively
11:30 AM Stephen Zarlenga Closes the Conference with a brief summary
outlining some objectives until the next conference
Saturday AM & PM, September 22nd
TimeSaturday SpeakersTitle or Topic
9:00 AM Stephen ZarlengaReview of Kumhof paper – Dr. Kumhof
9:15 AMProf. Nicolaus TidemanOn Money, Land and Justice
10:00 AMMichael Clark  On International Ramifications of Monetary Reform
11:00 AMMichael Hudson On Debts That Can’t Be Paid, Wont Be Paid!
12:00 PMLunch
1:00 PMProf. Ed StuartOn Banks and Monetary Policy as Servant Not Master
2:00 PMDavid I. Kelley An Economic Narrative for Progressives and Other Non-Psychopaths
3:30 PMBreak1
3:45 PMStephen ZarlengaThe Critique of A. Mitchell Innes view that Money must be debt,
and the damage that has done!
4:30 PMSteven Walsh, Jamie Walton, Stephen Zarlenga On
Innes Bad Effect on MMT
7:00 PMGala Dinner and Awards Ceremony
Time Title or Topic
12:15 – 12:30 PMParticipants take readily available taxis for the 3 mile trip to North Avenue Beach where our beach barbecue party is already set up and cooking, 250 yards South of the Beach House, under the trees in the grassy area. Shade and chairs available. This event is somewhat weather dependent, however there is a covered area at the Beach House if it rains. The one mile swim challenge may be limited to expert swimmers, or cancelled, depending on weather conditions.
1PM – 5 PMBeach Barbecue Party

The North Ledge of Chicago’s World Renowned Oak Street Beach Stephen Zarlenga’s summertime office is located under an umbrella just beneath the bottom middle of the photo. This is where we keep our sanity and stay in shape physically and spiritually! It’s exactly one mile to the sand and back, with ladders every 40 yards. We’ll have hot dogs, sausages, and a vegetarian alternative; volleyball;badminton and horseshoes.

Oaks Tree Beach Photo
Oak Street Beach North Ledge

A one mile swim challenge (if Lake Michigan cooperates) and an alternate one mile walk. A Magnificent Mile Swim T-Shirt goes to each serious swimmer, and maybe some walkers! We’ll have the swim, as long as wind and wave conditions permit. Swimmers should bring good goggles, a bathing cap really helps keep you warm, ear plugs and a nose plug. (oh yes – and a bathing suit!) UPDATE: It is September 9th, and water temperature is 74 degrees! A good sign for the swim to go forward, depending on winds.

Some scenes from prior conferences:


Hosted By: AMI

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Conference Speakers

Carol Brouillet
Carol Brouillet

Strategy for the Monetary Reform Movement

Carol Brouillet has worked on monetary reform since 1993 as an organizer, writer, speaker, and radio show host. She ran for Congress three times on the Green Party ticket. She has organized three conferences on “Strategies to Transform the Global Economy.” She championed the idea...

David I. Kelley
David I. Kelley

The Politics of Monetary Reform and Economic Justice

Dave Kelley, Legal and Economic Researcher from Ohio’s Cleveland area, has witnessed firsthand the growing disparity in income and the resulting impact on wealth over the last three decades as a Certified Financial Planner. The issues advisor to presidential, senatorial...

Ed Stuart
Ed Stuart

Banks and Monetary Policy as Servant Not Master

The current state of monetary policy and financial institution structure has turned the means and ends of macroeconomic policy upside down. Policy should be in the service of social goals and values. Some of those goals, are written in the Employment Act of 1946 and specify what...

Elizabeth Kucinich
Elizabeth Kucinich

We never know the roles we are to play in another’s life when we meet them, but Stephen and I played the most extraordinary roles in each other’s.

It is hard for me to describe who Stephen was for me and what Stephen meant to me, but I think many of you know the depth of our devotion to each other.

Stephen was a visionary, a...

Greg Coleridge
Greg Coleridge

Greg Coleridge presents the primary methodology to avoid wasting crucial time and energy at historically critical points – for example the error of some Greens in supporting states to do fractional reserve banking, at this time when real reform must be the target. Rigorous research and study is the essential first step of any social change agent...

Joseph M. Pijanowski
Joseph M. Pijanowski

Joseph M. Pijanowski, former Directing Business Representative of the International Association of Machinists and Aerospace Workers – Local 126, is highly regarded with a unique understanding of our current monetary system, its penalty to Workers and our economy.In an era of debt, austerity, and spiraling income inequality, we can no longer...

Kaoru Yamaguch
Kaoru Yamaguchi

Dr. Kaoru Yamaguchi has continued to refine his highly advanced modelling system to project how HR 2990 will achieve monetary reform. He concluded it will pay off the US national debt as it comes due; provide the funding for infrastructure, which solves the unemployment problem and does this without inflation!

Former Professor Yamaguchi used...

Mark Pash
Mark Pash

Mark Pash grew up and worked in two separate family businesses, one in manufacturing and the other in retail stores. He went on to receive two business degrees, Bachelors and Masters, from UCLA and USC respectively. Then he served in the US Army after which he received his Certified Financial Planning designation. Over the past 45 years Mark has...

Michael Clark
Michael Clark

I am very sorry I cannot be with you this evening to share memories and pay homage to Stephen Zarlenga.

My own experience was brief, even meteoric, but life changing. It began early in 2010, when Dennis Kucinich handed me a thick sheaf of paper and said, “Hey, Mike. I’ve been holding this bill for a while, but I think it’s about time...

Michael Hudson
Michael Hudson

I have known Steve Zarlenga for many years, going back to before he organized the AMI. We were introduced by Nic Tideman. Steve showed me his wonderful article countering Carl Menger’s barter theory of money. I urged him to make this the first chapter of his Lost Science of Money, because the conflict between the Barter Theory and the State...

Michael Kumhof
Michael Kumhof

My Memories of Stephen Zarlenga-

It was with heartfelt sadness that I learned of Stephen Zarlenga’s passing in April 2017. Stephen was one of those rare individuals who put the good of others, of humanity even, ahead of his own. His tireless work in pursuit of monetary reform was in the very best of scholarly traditions, starting with a...

Nicolaus Tideman
Nicolaus Tideman

Professor Nicolaus Tideman received his Ph.D. in Economics from the University of Chicago (where he studied under Milton Friedman among others), taught at Harvard (1968-73) and served as Senior Staff Economist at the President’s Council of Economic Advisers (1970-71) before moving to Virginia Tech in 1973. He has been Professor of Economics...

Ole Mackeprang
Ole Mackeprang

A Report on the Prospects for the Euro

Ole Mackeprang

Ole Mackeprang

Ole’s book – Money is not Capital Ole Mackeprang, European Financier spoke on “Money Systems & Warfare” at our 2007 Conference and will update us on the practical changes the Euro has brought since its launch. Back then the Euro was proclaimed...

Professor Steve Keen
Professor Steve Keen

Professor Steve Keen is widely regarded as one of the world's most accurate analytical economists, voted in 1st place for the inagural Revere Award for Economics in 2010 by the (Real) World...

Robert Poteat
Robert Poteat

Robert Poteat is current Director of the American Monetary Institute and is among the most knowledgeable, reality-based experts on our money system in America. A long-term and meticulous monetary researcher, certainly among the top half dozen in America in awareness of monetary systems. Robert discusses why the American Monetary Act is needed in...

Stephen Zarlenga
Stephen Zarlenga

AMI’s Purpose, Objectives and Methodology

Director and co-founder of the American Monetary Institute in 1996; author of The Lost Science of Money book; and the Refutation of Menger’s Theory of the Origin of Money; a Critique of A. M. Innes substituting debt in place of money, and Greening the Dollar, (a free CD of his...

Steven Walsh
Steven Walsh

Steven Walsh’s background is primarily in anthropology and education. He has a working knowledge of Spanish and has lived with indigenous people of Alaska. In Alaska, he taught and wrote Alaskan heritage curriculum. In 1985 he came back to Chicago and spent the next 30 years as a curriculum coordinator for Chicago Public Schools and as a School...

Will Abram
Will Abram

The Reforms Instituted by Gerald Gratton McGeer

Will Abram of Duncan, British Columbia, (Long term monetary scholar), cannot travel at this point, but will present by video, the neglected story of Gerald G. McGeer, “father” of the Bank of Canada, who instituted major monetary reforms on the lines of the American Monetary...


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