Step 1:

Ok create an image in Photoshop, mine is 8" x 10" and fill the entire image in with text. I like to go to the Lorem Ipsum site, Lorem Ipsum will help create some dummy text.

Step 2:

With your entire image now filled in with text, fill in the background with a black color and convert the text to a white color.

Step 3:

Now select a portrait or image you would like to use. Then place the image on top of the text.

Step 4:

Now desaturate the image and adjust the Levels and Curves to create a black and white image with a lot of contrast.

Step 5:

Now set the Blend Mode to Multiply and there you go! Pretty easy right? Load up the Curves and Levels to further adjust the image's contrast. Feel free to contact me if you have any further questions! Happy Photoshoping!