The "Paper Pulper" Manual Paper Shredder

The Paper Pulper(TM) is a water-based hand-powered "shredder" that completely macerates your papers into a pulp.

It's no cost
Uses no energy
Won't break.
Is nearly silent
Makes destruction of important papers accessible to the masses for identity protection, wherever you are.
Gives you material for craft projects.

1/09 Update:

Step 1: Make Your Container

Find a 1 quart plastic container or a metal can that has a plastic top.

Cut a slit then a hole in the top so you can easily remove it while holding your Pulper blades (aka an egg beater) stand in the middle.

Step 2: Start Pulping!

Fill the container with water to about half way.

Rip up your papers and add them.

Use the beater to stir a little or even turn the handle to submerge the paper.

Step 3: Get Crafty

Add more paper to "shred" whenever you like.

For best results, leave the paper in as long as possible and keep adding to it, much like a compost pile.

You can recycle the pulp, throw it out, or some suggest throwing it into compost. (I'm not sure about the dyes etc.)

Or of course you can make paper or use it for craft projects!