... nor is it a temporary condition; it is the expected result of a flawed system of money, banking and finance.  We have allowed the banks to control our credit and charge us interest for the “privilege” of accessing some of it as bank “loans.” The fact is that the dollar regime, like every other political currency, collectivizes credit. It is the people’s collective credit that supports each national currency, but the allocation of that credit is determined by forces beyond popular control, and an inordinate proportion of it is used to fund the war machine and to enrich corporate fat cats, all to the detriment of peace, equity, and the common good.

But we need not be victims of a system that is so obviously failing us. We can learn to play a different game. It is possible to organize an entirely new structure of money, banking, and finance, one that is interest-free, decentralized, and controlled not by banks or central governments, but by businesses and individuals that associate and organize themselves into cashless trading networks. This is a way to reclaim the credit commons from monopoly control and create healthy community economies that can enhance the quality of life for all.

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Thomas H. Greco, Jr. is a writer, networker, and consultant, specializing in cashless exchange systems and community economic development. A former engineer, entrepreneur, and tenured college professor, he is widely regarded as a leading authority on free-market approaches to monetary and financial innovation, and is a sought-after advisor and speaker at conferences internationally. He is the author of many articles and books, including The End of Money and the Future of Civilization (Chelsea Green, 2009) and Money: Understanding and Creating Alternatives to Legal Tender (Chelsea Green, 2001). His blog, http://beyondmoney.net/, and website, http://reinventingmoney.com/, are valuable resources that provide detailed explanations and prescriptions for communities, businesses, and governments.