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The End of Money: Take Power Back From the Money and Banking Monopoly

If we desire to have a peaceful, equitable society, the power of lending must go to people and their communities.

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Such systems involve the allocation of credit, but they do not require the use of money as we have known it. The collective credit balances in the accounts of these systems can be thought of as a kind of internal currency, however, it is one that is not “loaned” into existence; it comes into being in the course of trade among the members. If properly organized, it provides credit on a more honest, transparent, and democratic basis -- and without a usurious penalty.

The story of power in modern history has been pretty much the same throughout the world. The central banking, political money system has been established in virtually every country. If we desire to have a peaceful world that can provide a dignified life for all, power must devolve to the people and their communities. That cannot happen so long as we allow credit to be monopolized and undemocratically allocated. Fortunately, we the people have in our hands the means of our own liberation. It is the power to allocate our credit directly without the use of banks or political forms of money. How to effectively assert that power is the main theme of my latest book, The End of Money and the Future of Civilization .

Thomas H. Greco, Jr. is the director of the Community Information Resource Center, which he founded in 1992. CIRC is a nonprofit consulting organization and networking hub dedicated to economic equity, social justice, and community improvement, specializing in community currency and mutual credit design, development, and implementation.

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