Coming soon: a world without money and banks.

Who in their right mind would be so bold as to predict the end of money and banking as we’ve known it (besides yours truly, that is)?

Well, how about the Governor of the Bank of England?

“There is no reason products and services could not be swapped directly by consumers and producers through a system of direct exchange – essentially a massive barter economy. All it requires is some commonly used unit of account and adequate computing power to make sure all transactions could be settled immediately. People would pay each other electronically, without the payment being routed through anything that we would currently recognize as a bank. Central banks in their present form would no longer exist – nor would money.”

— Mervyn King – Governor of the Bank of England

You see, even the insiders can see the writing on the wall.

Another observer who has been in the thick of cashless trading developments for decades is Bob Meyer, publisher and editor of Barter News. A while back, Bob wrote an article that gives some pertinent history of the “barter” industry and sketches his vision of how “Simple One-to-One Exchanges Will Give Way to Organized, Computerized, Multi-Lateral Barter.” I strongly recommend that people read it: THE ORIGINAL MEANING OF TRADE MEETS THE FUTURE IN BARTER

14 responses to “Coming soon: a world without money and banks.

  1. Eric Hollingsworth

    Has anyone explored the possibility that within a mutual credit system a business could be started without capital? It occurs to me that the stock share system is just another way of renting money, the difference from banking being that banks rent money that they don’t have.

    One way it could work is for an aspiring businessperson to submit a business plan to a body representative of prospective suppliers, including labor. If accepted, the new business would be chartered as a member of the system and issued credit. The new businessperson (or persons) would become the controller of the company rather than the owner, and would receive a salary instead of dividends. If the controller brings capital into the business, they could be paid outright, subject to approval, the same as any other supplier.

    Without shareholders, the controller would be free to optimize quality rather than optimizing profits. Such a business could never be sold, since it isn’t owned, but could, again subject to approval, change controllers. If it should come to an end, remaining assets could be sold off and any surplus could be distributed among participants as severance, in the same proportion as the prevailing salaries and wages.

    Just a thought, but if we ever phase out the system of money as tribute, we might as well go all the way.


  2. Forget about a ”transaction”… you dont even need that. The only thing you need is a passion and return this passion to people. Work for your passion and receive for your passion. This is call a world without limitation. If you need to exchange an object for an object you create limitation. You go back to the money system essentially.

    Money is worth NOTHING! they just print it on no value. If everyone would simply work just to have access to goods for free now thats a good plan and a great world without limitation… People that would not work would simply not be able to access the goods. A world where we create riches and poor will always create issues. Everything is about balance. And we have no balance right now in our world. Balance is the BIGGEST LAW of nature and the biggest thing we need to restore in our world. But thats another subject. Having an Hierarchy is wrong! Everyone is important and nobody is suppose to be superior or inferior. The triangle just remember that, its everywhere, and its the Illuminati sign.


  3. I’ve been telling friends for decades that eventually cash would become illegal, and would only continue to be used in the hands of the black market, so I suppose money launderers have their futures assured.

    Physical money is one of the largest disseminaters of disease worldwide as carriers of bacteria, viruses, etc. Eventually all transactions & trade of goods will be through chips, but I wouldn’t count the banking industry out of getting their piece of it. This technology will also mean tracking your movements. There are benefits & risks in all tech, like any tool. A hammer can build, but it can also murder.

    I also recall telling a group of friends in the late 1960’s that personal privacy was dead, but Americans would cling to the fantasy for decades. RFID chips though convenient are just the beginning of world wide tracking & control of individuals.


  4. Why is a world without money so hard to imagine? Because money is part of our culture. Culture is like the water a fish has no awareness that it swims through; it is simply there. So a money-less world is defined only in terms of current cultural and linguistic constructs i.e., “units of accounting” and the barter system. We can’t imagine a world without money because WE CAN’T IMAGINE A WORLD WITHOUT MONEY. Everyone who refutes the idea of a world with out money outright doesn’t perceive the water. “A world without money you say? Bah! Who can imagine that?!”

    New evaluative paradigms of cost/benefit analysis will arise organically and unpredictably. Novel economic constructs are needed that may measure values in terms of appreciation, opportunity, satisfaction, cultural and intellectual enrichment, self-actualization and well-being to create a truly egalitarian society.

    As with all major advances in human history change comes only when the Noosphere is ready and able to give it birth. The antidote to the poison that money is, is present in the universe but not yet apparent. New evidence, new thinking and new vision will combine to bring the idea to fruition. The next level of moral and intellectual enlightenment will eventually be reached. But change comes hard and money will fight for its survival. History is replete with the wreckage of outmoded and failed ideas in science, the arts and society falling victim to evolution. A necessary impetus are conversations like these. All that Mankind can imagine can be made real and is our only existential imperative.


  5. Spring mcdade

    I truly think that this kind of thinking means that we are on the right track.
    To live in a world with out money is the best solution. It may take years to change, undo the mind set. But with persistants it can be done.
    It would be the way to bring us back together as a people. Back to God.
    This would change the world for the better. Since money seems to be the cause of so many of our issues in today’s world. To take a way the value of the dallor. And allow all to have what they need. We make every thing we need. so why do we have to pay for any thing ? money just separates us. with out money we it. We could be a better people to each other

    we could just keep working every day as we do. But no one gets a pay check. I love the ideal of it all. And I believe that we can make it become our new reality.


  6. I think there is still more to be thought. Why is it that every discussion about a cashless society have to present bartering as the solution? There should be no cost- for anything. If we introduce bartering, that will just lead back to what we have now- that’s how it all began. If everything is free- supplies, property, natural resources- we eliminate poverty, we eliminate social classes, we eliminate capitalism altogether.

    On the 6th day, we got dominion over the fish of the sea and the fowl of the air, and every creeping thing, and every tree to subdue- not to resell on a capitalist market to those who have or have not…


  7. Pingback: Coming soon: a world without money and banks. « Canterbury Transition News

  8. Pingback: Coming Soon « Bill Totten's Weblog

  9. Really interesting to see that Mervyn King comment. Would be good to have a link to the original source if possible…


    • According to Bob Meyer’s article, which i cited, King uttered those words during the “annual policy conference (of world economic leaders) in Jackson Hole, Wyoming.” He does not mention whether that was last year or some previous year. If you can help track it down, I and my readers would appreciate it.


  10. Why would anyone in their right mind who is not Illuminati give any credence to what a member of the Illuminati says, other than to decipher it’s manipulative nature? A unit of account is money. Why doesn’t King say anything about how the bank is currently profiting off of debt between borrowers and the producers who take the currency in exchange for their product? The writing on the wall – the bankers will maintain their control until the masses break down the wall of understanding how money is created. Debit the borrower, credit the lender. Then, debit the borrower more and credit the banker. The piggy is right there behind the wall, waiting to die.


    • Very accurate and concise summation philoplatt. Their present monetary system was planned from the beginning knowing full well of the mathematical lifetime of it’s possible existence. Also planned for was the ‘new’ remedy to be implemented upon it’s planned demise, which is what we see now coming out of the woodwork. The truth of his statement, mostly, does not detract from their plans for continued control with an even greater burden upon the people of the world. Mr. E. C. Riegel’s works lay out the people’s remedy, IF they choose to ever take the needful responsibility upon themselves to implement such. I admire Mr. Greco very much. However, BIG business needs to take a back seat to the necessity of bringing forth a monetary system that truly is “of, for and by” the people. Such a system is ready to go when we can draw enough interest to do so. Such a system has the full potential built into it to take care of B2C transactions, and includes ‘vouchers’ also. I have been trying since late 2006 to do just that. However, people still look to ‘government’ to control money. So long as this mindset persists, we will get nowhere. Do look at the Riegel Exchange website if you are interested in making a real change for humanity. Blessings …. Laurence Gilbert


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