STEPS
TOOLS
Hold your four sheets of paper hamburger style.
On the FOLDED side, make a mark one inch from the edge.  Repeat on the other side.
Make a small cut on each mark (on the FOLDED side!!!).
Separate into two stacks of two papers each.
With stack #1, make a small cut from the edge of the paper to your previously made cut.  Repeat on both sides.
With stack #2, make a cut along the spine between the previously made cuts.
Insert stack #1 into the hole in stack #2 like so.
Ta da!
 Scissors
4.0 Pieces of Printer Paper
 Ruler (or other measuring tool)

How to make a no-staple booklet

Mine is fourteen pages (not counting the covers) but you can use more paper to make them bigger.