Thisisthelatestchaptertobepublishedofmynew2024editionofTheEndofMoneyandtheFutureofCivilization.ItcontinuestheexpositionbeguninChapter13,elaboratinguponsoundprinciplesofcreditallocationandmanagement,highlightingwhatdidnotworkandwhy,anddescribingindetailwhatittakestomakeanexchangealternativesucceed.Itanswerscrucialquestionslike:
Andconsidersstrategiesforsuccessfullaunchandimplementaion,withdueregardforthebroadsituationalcontextintowhichanalternativecurrencyorcreditclearingexchangemaybeintroduced.
Thisisthelatestchaptertobepublishedofmynew2024editionofTheEndofMoneyandtheFutureofCivilization.Itprovidesacomprehensiveoverviewofthealternativeexchangemovementoverthepastseveraldecadesanditspresentstate,alongwithimportantcasestudies,lessonslearned,andprescriptionsforsignificantperformanceimprovements.
Hereisalistofsectionheadingswithafewbriefexcerpts:
Acurrency,tobeeffective,mustbeSPENTintocirculation.—ThomasH.Greco,Jr
TwoCurrentsofAlternativeExchange
TheTucsonExperience
MoreRecentExperimentsinMutualCreditClearingInorderforamutualcreditclearingexchangetobescalableandsuccessfuloverthelongrun,
LocalCurrencies
ABetterCurrencyModelAsound,credible,effective,andscalablecurrencydoesnotneedtoberedeemableforconventionalmoney,theissuerneedsonlytoprovidecredibleassurancethatitscurrencycanbereadilyredeemedforsomegoodsorservicesthatareingeneraldemand.PrivateorcommunitycurrenciesthatareSPENTintocirculationbytrustedissuers,likeutilitycompanies,goodsproducers,ormunicipalgovernments,havemuchgreaterpotentialforpromotinglocalcommunityprosperity,resilience,andself-determinationbecausetheyallowacommunitytomonetizethevaluethatiscreatedandsoldbylocalbusinessesandprofessionals.Theinternal“tradecredits”providedtomembersofmutualcreditclearingassociations,likethosebeingcreatedbythescoresofcommercial“barter”exchangesthatoperatearoundtheworld,dothesame.Suchhome-grownsourcesofliquidityenableacommunitytogreatlyreduceitsdependenceuponofficialmoneyandbankborrowing,andtoautomaticallyfavorlocalproductionandlocalsourcingofgoodsandservices,thusreducingdependenceuponimportsandglobalcorporateproviders.
WhyExchangeAlternativesHaveFailedtoThrive
CaseStudies
ProspectsforFutureSuccess
Thisisthelatestchaptertobepublishedofmynew2024editionofTheEndofMoneyandtheFutureofCivilization.Itsummarizesthedimensionsofthemoneyproblemandthepathwaystowardsolvingitaswedescribedtheminthepreviouschapters,andelaboratesuponthevariousfunctionsofmoneyandfinanceandhowtheycanbehandledinwaysthatarehonest,fair,andempowering.
Hereisabriefexcerpt:
Thepoliticalmoneysystemisthekeystoneinthearchofpower.—ThomasH.Greco,Jr.
Havinglaidthenecessaryfoundationinthefirstelevenchapters,wecannowproceedtosummarizetherequirementsforsolvingthemoneyproblem.Wehaveshownhowmoneyhasbeenpoliticizedandhowthecontroloveritscreationandallocationhasbecome,whatIcall,“thekeystoneinthearchofpower,”apowerwhichisatoncefinancial,economic,political,andsocial.Thosewhocontrolmoneyareabletocontroleverythingelse.Theinherentdysfunctionsofthepresentmonetaryregimederivemainlyfromthefollowingstructuralelements:
Wehaveseenhowthatsystem:
EmergingExchangeAlternatives
Thisisthelatestchaptertobepublishedofmynew2024editionofTheEndofMoneyandtheFutureofCivilization.Itcontinuesthestorybeguninthepreviouschapterofhowmoneyhasevolvedandchangeditscharacterovertime.
Moneyhasbecomemerelyanaccountingsystem,awayof“keepingscore”intheeconomic“game”ofgiveandtake.—ThomasH.Greco,Jr.
Letusbeginbysummarizingtheevolutionofthevariouskindsofmoneythathavebeenusedtomediatereciprocalexchange:
Fornow,youcanreadorlistentotheentirechapteratFutureBrightly:
Asalways,yourcommentsandsuggestionsarewelcomed,Thomas
THG:SummarizetheuniquefeaturesoftheworkofThomasH.Greco,Jr.onmoneyandeconomics.
ChatGPT:
5/5ThomasH.Greco,Jr.isknownforhisgroundbreakingworkonmoneyandeconomics,focusingonalternativemonetarysystemsandlocaleconomies.Someoftheuniquefeaturesofhisworkinclude:
###
Update:Monday,August28,2023Thisiterationisabitmorecomplete:
ThomasH.Greco,Jr.isknownforhisuniquecontributionstothefieldsofmoneyandeconomics,particularlyintherealmofalternativecurrenciesandmonetarysystems.Someofthekeyfeaturesofhisworkinclude:
ManyoftheworksinmycollectionareoldenoughtolackbarcodesandmanylackevenISBNnumbers,butthesecanoftenbefoundinthedatabasebymanuallyenteringthetitleorauthor.SofarI’vemanagedtocatalogalmost200titles.Theremainingitemsarepamphletsandphotocopieswhichwillrequiremoreintensiveeffort.
ThefinancialandeconomiccollapsedidnothappenassoonasBorsodithoughtitmight,nordiditquitefollowthemechanismthatheexpected.Heseemsnottohaveanticipatedtheglobalizationoftheeconomy,theshiftoftheUSfromtheworld’sgreatestcreditornationtoitsgreatestdebtor,ortheextenttowhichtheUSdollarwouldbecometheglobalreservecurrency,andtheenormousappetiteofothercountriesforholdingandaccumulatingevergreaterpoolsofdollars.Neitherdidheforeseethelongsuccessionofstop-gapmeasuresthathavebeenrolledoutbythepoliticalandmonetaryauthoritiesoverthesubsequentdecadestopropuptheflawedsystem,suchascorporateandbankbail-outs,corporateconsolidations,quantitativeeasing,andbail-ins,andtheevergreatercentralizationoffinancial,economicandpoliticalcontrol.ButBorsodiwasnotwrong.Wecannowseeloomingonthehorizoneither(1)thecollapsethedollarandtheglobalfinancialsystem,whichwilltaketheeconomywithit,or(2)theimpositionofanevermoretotalitariangovernmentthatwillmicro-manageeveryaspectofsocietyandindividualbehavior.
Thefirstofthesewillprobablybeinadvertentandunanticipated.Thesecondhaslongbeenplanned,isintheworks,andisrapidlyunfolding.Theglobalpowereliteseemtobelievethattheycanengineeracontrolleddemolitionoftheexistingfinancialmechanismsandreplaceitwithanewsystemthatwillfurtherincreasetheirpowerandwealth.Recentdevelopmentsaresignalingtheeliminationofcashmoney,theintroductionofCentralBankDigitalCurrencies(CBDCs),aswellasonerousdemandsonpeopleinthenameofpublichealth,climatechange,andother“emergencies.”WeshouldexpecttoseetheUnitedStatesandothercountriestorollouttheirownversionsofChina’ssocialcreditsystemwhichwilldeterminewhateachindividualwillbeallowedornotallowedtodo,alongwithsomesystemofpositivepersonalidentification(PPI),mostlikelyusingamandatorychipimplant.
Myphysicalbooklibraryalsocontainsararecopyof,AStudyoftheMoneyQuestion,byHugoBilgram.Thisslimvolume,
Ibelievethatbothofthesewillbeofvaluetoseriousstudents,researchersandinnovatorsworkinginthefieldofmoney,banking,andexchange.
Oneofmymostpopularpostshasbeen,Thereoncewasariver…anallegoricaltaleofmoneyandcredit,inwhichI’vetriedtoshowhowwehaveallbecomeslavestomoneyandthosewhocontrolmoney.Usingwaterinthislittlefabletorepresentmoney,I’vealsotriedtoshowthatwethepeoplecanfreeourselvesbythinkingoutsidetheboxtoovercomeourfixationonthesortofmoneythathasbeenprovidedforusandoverwhichwehavelostallcontrol.
EverymetaphorofcourseislimitedandwhatIamhopingthatreaders/listenerswillcometounderstandisthattherearealternativestoconventionalmoneythatwecanusetoreduce,andeventuallyeliminateourdependenceuponconventionalpoliticalmoney.Itiscreditthatisthefoundationofanhonestsystemofexchangeandwehavethepowertogivecredittoeachotherinaccordancewithourownvaluesandobjectives,outsideofconventionalbanksandwithoutcharginginterest.
Youarewelcometopostcomments.
IwasthefeaturedguestonEllenBrown’spodcastofDecember30,2021.IconsiderthistobeoneofmybestinterviewsinwhichIcoveredawiderangeofthemostimportantquestionsrelatedtorebuildingoursystemofmoneyandfinance.Myinterviewiscomprisedofthefirst38minutesoftheprogram.
IwillbeconductingafreethreepartwebinarseriesfortheHenryGeorgeSchoolofSocialScience.Hereisthedescriptionandregistrationlink:
Aboutthisevent
Topics
_______________________ConversationwithEdgarCahn,TimJenkin,etal
_______________________Marketsandfinancesintoday’sworld
_______________________U.S.foreignpolicy,theprimarythreattopeace
_______________________TravelPlans
Asspringpassesandsummerbegins,wewonderaboutthepossibilitiesfortravelandtourismtoreturntoanythinglikenormal.Will“vaccinepassports,”testing,and/ormaskingberequiredtotravelIfso,whatformwillthosepassportstake,papercertificates,digitalapps,chipsembeddedundertheskinWillgovernmentsimposequarantinerequirementsforpeopleenteringtheircountry,asmanyhavebeendoingformorethanayearIfonedoestravelabroad,whatarethechancesofbeingstuckthereandnotallowedtoleave
Consideringallthat,itseemsunlikelythatI’llbedoingmuchtravelingthisyear.
Stayalert,keeplearning,andseekyourinnerpeace,
Thomas
Broadlyspeaking,technologyistheorganizationofknowledge,people,andthingstoaccomplishspecificpracticalobjectives.Itincludesprocesses,practices,techniquesandsystemsaswellasthings.SowhatarethedisruptivetechnologiesinmoneyandfinanceOristhateventherightquestiontobeaskingIsitBitcoin,Ethereum,andotherso-calledcrypto-currenciesIsittheblockchain,“smartcontracts,”“bigdata,”algorithms
ManythankstoKenRichingsfordoingthehardworkofeditingandpreparingthevideoforpublication.