First Report From California – Addendum – Sources & Resources

Sources and Resources on Money and Exchange Alternatives

Compiled by Thomas H. Greco, Jr.

P.O. Box 42663 * Tucson, AZ 85733 * Email:

Key Concepts

Credit clearing

Credit clearing is the process by which credits arising from sales are used to directly offset debits arising from purchases without the use of conventional money. This process takes place within an organized circle of associated trading partners. In accounting terminology, Accounts Receivable are offset against Accounts Payable.


Monetization is the process of converting the value of fixed collateral assets into credit that can be spent. In conventional banking, a bank monetizes the value of collateral assets when it creates a deposit by granting a loan. For example, when a bank grants a mortgage, it essentially converts the value of a house into a demand deposit that the borrower can then spend. The process of monetization can also be effected within a credit clearing circle when a member is granted a line of credit or overdraft privilege based on the goods and services they offer for sale.

Websites and Blogs

Reinventing Money:
Community Information Resource Center:
Beyond Money Blog:
Tom’s News and Views:

The Infography about Community Currencies:

The Online Database of Complementary Currency Systems Worldwide. Stephen DeMeulenaere, Complementary Currency Resource Center.

Community Exchange System. South African New Economics Network (SANE). A web-based currency exchange platform and network.

Books – Primary (mostly available at the website

Greco, Thomas H., Jr., Money: Understanding and Creating Alternatives to Legal Tender. Chelsea Green Publishers (VT), 2001.

—, New Money For Healthy Communities. Thomas H. Greco, Publisher, P.O. Box 42663, Tucson, AZ 85733, 1994.

—, Money and Debt: A Solution to the Global Crisis. Second edition, Thomas H. Greco, Publisher, P.O. Box 42663, Tucson, AZ 85733, 1990.

Riegel, E. C., Private Enterprise Money. New York: Harbinger House, 1944.

—, The New Approach to Freedom. San Pedro, CA: The Heather Foundation, 1976.

__, Flight From Inflation. San Pedro, CA: The Heather Foundation, 1978.

Private Enterprise Money is out of print but may be found online through our website,

The other two books by E. C. Riegel may be obtained from Mike Aldana at the E.C. Riegel School of Money, 1430 Mountain View Lane, Idaho Falls, Idaho 83402. Phone 208-522-5050. The prices are $12 for one book, $22 for two, plus postage and handling of $4 for one book, $1 more for each additional book. Acceptable payment forms are cash, check, or money order only.


WIR and the Swiss National Economy. Beard, Philip, trans. Philip Beard and Tobias Studer. Available at


Jacobs, Jane, Cities and the Wealth of Nations: Principles of Economic Life. New York: Vintage Books, 1985.

Kennedy, Margrit, Interest and Inflation Free Money. New Society Publishers, 1995.

Linton, Michael, and Thomas Greco, “The Local Employment and Trading System.” Whole Earth Review, No. 55, Summer 1987.

Modern Money Mechanics. Federal Reserve Bank of Chicago, 1992. Online at

Timberlake, Richard H., and Kevin Dowd (eds.), Money and the Nation State. New Brunswick, NJ: Transaction Publishers, 1998.

Zander, Dr. Walter, “A Way Out Of The Monetary Chaos”. From The Annals of Collective Economy, Geneva, 1938.

Available at

Zander, Dr. Walter, “Railway Money and Unemployment.” From The Annals of Collective Economy, Geneva, 1934.

Available at

Video Documentaries

Money as Debt by Paul Grignon. Website:

Money: Who creates it? Who controls it? Who profits? A film by Isaac Isitan. Les productions ISCA, Montreal, Quebec.

The Money Masters. 1-888-the-plot

Pertinent Quotes

When businessmen resolve to set up a money system, they agree to hold in trust for each other goods and services that are pledged against the drafts which they have issued in the form of money. These values—that are held in trust by all for any who may present a money draft therefore—constitute a vast pool, not housed at one place, but scattered throughout the trading sphere. This vast pool of goods and services is the basis or backing for the outstanding money supply. “Reserves” and metal hoards are but window dressing. Only that which is purchasable is back of money.

– E. C. Riegel, Private Enterprise Money, Chapter 6.

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