THE ROLE OF MONEYThis is a featured page


THOMAS GRECO
http://video.google.com/googleplayer.swf?docId=-1399011433067824706&hl=en

 The End of Money and the Future of Civilization Thomas Greco http://beyondmoney.net/the-end-of-money-and-the-future-of-civilization/

The End of Money and the Future of Civilization considers the money problem within the broad historical and political context that has made the control of money and banking the primary mechanism for concentrating power and wealth and the nullification of democratic governance.
 It provides the necessary understanding for entrepreneurs, activists, and civic leaders to implement approaches toward monetary liberation, approaches that empower communities to restore their environments and democratic institutions, and begin to build economies that are sustainable, equitable, and insulated from the financial crises that plague the dominant systems of money, banking and finance.
 It provides specific design proposals and exchange-system architectures for local, regional, national, and global financial systems, and offers strategies for their implementation prescribing actions that grassroots organizations, businesses, and governments will need to take to achieve success. The book may be ordered direct from the publisher or from Amazon.com, but it would be most helpful if you would order it from your independent local bookstore.

Our world is moving to increasing and dominant usage of distributed networks, and the associated peer-to-peer dynamics of people aggregating around the construction of common value. We have the communication infrastructure, but we still need to build robust peer-to-peer energy grids, AND, just as important, we need to be able to create peer-to-peer currencies that strengthen resilient communities in the context of turbulent globalization. To undertake the latter task, one voice has been consistently investigating what determines success and failure regarding the social production of money. That voice is Thomas Greco, who not only offers the definitive book on the subject, but offers also the condensation of a whole life of research and engagement with the topic. The time of crying in the wilderness is over for Thomas Greco: this is the age where these ideas will be practically implemented. It is rare to find the combination of quality theory and robust implementation in one book, so please do acquire this gem. —Michel Bauwens, founder of the P2P Foundation

 Contents List of Tables and Illustrations
1 My Purpose and My Journey
My Personal Journey • Seeds of Disillusionment • Awakening • In the Wake of Inflation • E.C. Riegel • Why Yet Another Book?
2 Mega-Crisis and Metamorphosis-Can Civilization Be Saved?
Prospects and Prognostication • Exponential Growth • Limits to Growth • Paradigm Shift • Metamorphosis • The Egg, the Caterpillar, and the Butterfly • Get With the Program
3 The Contest for Rulership-Two Opposing Philosophies
Elitist or Egalitarian? • The Contest in American History: Monarchy or Republic? • Power by Other Means
4 Central Banking and the Rise of the Money Power
Central Banking, an Unholy Alliance • The Bank of England • Central Banking in the United States • The First Bank of the United States • Andrew Jackson and the “Bank War” • The Free Banking Era • The Federal Reserve • Central Banking Spreads around the World
5 The New World Order
The Power Behind the Central Banks • A Merging of Interests • Wars, Internal and External • Money Power, the Key Element in the New World Order • Erosion of National Sovereignty
6 Usury and the Engine of Destruction
Monetary Stringency, Past and Present • Increasing Instability • The Magic of Compound Interest • What’s Wrong with the Global System of Money and Banking? • How Debt-Money is Dysfunctional • Three Aspects of Money Dysfunction • Moral Arguments, Laws, and Practical Solutions • Keys to Transcendence • Exchange and Finance-Two Distinct Credit Functions
7 The Nature and Cause of Inflation
What Is Inflation? • Who Has the Power to Inflate? • Improper Basis of Issue by Banks Is Inflationary • Government Deficits and Inflation • The German Hyperinflation-A Classic Case • How the Inflation Was Ended • Constraints Upon Debasement of the Money • Responding to Inflation
8 The Separation of Money and State
The Separation of Church and State-A Comparison • The Disestablishment of Monetary “Religion” • Two Meanings of “Dollar” • Delinking from the Dollar as a Payment Medium • Delinking from the Dollar as a Measure of Value • Stable Value Reckoning • Toward Freedom of Exchange
9 The Evolution of Money-From Commodity Money to Credit Money
What We Don’t Know Is Hurting Us • Kinds of Economic Interaction • “The Ladder of Economic Civilization” • The First Evolutionary Step-Barter to Commodity Money • Commodity Money • Symbolic Money • The Second Evolutionary Step-From Commodity Money to Credit Money • Two Distinct Kinds of Money-Fractional Reserve Banking • Redeemability Abandoned • Checks and Checkable Deposits Displace the Use of Banknotes • Gold Versus Credit Money-A Comparison • How Credit Money Malfunctions
10 The Third Evolutionary Stage-The Emergence of Credit Clearing
Banks and the Credit Clearing Process • A Confusion of Language • Particle or Wave? Thing or Relationship? • Clearing Through Banks Versus Mutual Credit Clearing • Direct Credit Clearing Makes Conventional Money and Banking Obsolete
11 Solving the Money Problem
The Basis of Monetary Dysfunction • Reform or Transcendence? • Emerging Exchange Alternatives • Separating the Functions of Money • Back to Commodity Money? • The Unit of Account Versus the Unit of Currency • The Measurement of Value • Proper Relationship Between Commodities (Gold/Silver) and Credit • Confusion Caused by Legal Tender Laws
12 Credit Clearing, the “UnMoney”
What Is Credit Clearing? • A Simple Example of Clearing among Banks • Settlement of Accounts • Mutual Credit Clearing Systems as Clearing Houses • Direct Credit Clearing-A Simple Illustration Using Four Accounts and Ten Transactions • Balance Limits and Settlement • Providing Surety of Contract • An Insurance Fund
13 The State of the Alternative Exchange Movement
Two Currents of Alternative Exchange • The Tucson Experience • Why Exchange Alternatives Fail to Thrive • Failure of Reciprocity • Inadequate Scale and Scope of Operation
14 How Complementary Currencies Succeed or Fail
Architecture of the Currency Itself • Principle 1: Who Is Qualified to Issue Currency? • Principle 2: On What Basis Should Currency Be Issued? • Principle 3: How Much Currency May Be Issued By Each Issuer? • Implementation Strategies • The Situational Context • WIR • Social Money in Argentina
15 Commercial Trade Exchanges-Their Present Limitations and Potential Future
Limiting Factors • Limited Scale and Scope • The Value Proposition • Operations and Agreements • Proposed Remedies • The Real Deal-Credit Clearing Services • Tapping the Vast Potential Market • What About Taxes? • An Eventual Cashless Trading Network
16 A Regional Economic Development Plan Based on Credit Clearing
Approaches to Community Economic Development • Stage I: Mapping the Territory and Import Substitution • Stage II: Mutual Credit Clearing Provides an Alternative Means of Payment • Sage III: The Credit of “Trusted Issuers” Provides an Alternative Currency for Regional Circulation • Stage IV: Support Structures for Localization-Saving, Investment, Finance, and Education • Stage V and Beyond: Transition to an Objective Measure of Value and Accounting Unit
17 The Next Big Thing in Business: A Complete Web-Based Trading Platform
The Convenience of Cards • Improving the Exchange Process-Challenge and Opportunity • Significant Trends and “Disruptive Technologies” • Strengths and Vulnerabilities of Political Money and Conventional Banking • From Disruptive to Sustaining-Moving Upmarket • The Emergence of a Complete Web-Based Trading Platform • Essential Components of the Web-Based Trading Platform • Completing the Web-Based Trading Platform
18 Organizational Forms and Structures for Local Self-Determination and Complementary Exchange
Toward Economic Independence • The “Banjar” and the Balinese Governance Structure • The Mondragon Cooperatives • Ways of Organizing Credit Clearing Exchanges • Corporations • Limited Liability Companies and Limited Liability Partnerships • Mutual Companies • Scale of Organization
19 The Role of Governments in Establishing Economic and Financial Stability
What National Governments Should Do • Objectives • Rationale • Legislative Proposals in Brief • The Role of State, Provincial, and Local Governments • An Early Example of a Local Currency
20 Exchange, Finance, and the Store of Value
The Store of Value • Saving and Investment • Liberating Saving and Investment • Debt Claims Versus Equity Claims • A Shared Equity Mortgage • Savings and Investment within Complementary Exchange Systems
Epilogue
Acknowledgments
Appendix A: A Model Membership Agreement for a Credit Clearing Service
Appendix B: An Objective Composite Standard Measure of Value
Notes
References
Index
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