A recent exploration of my file archives has inspired me to undertake a new project. I happened to open and re-read the file of a newsletter sent long ago. It was like a chance meeting with an old friend long absent from my mind that suddenly took me back in time and reminded me of things long forgotten; where I was, what I was doing, how I was feeling, and what was happening around me. That in turn led me to open other newsletter files which further energized me and motivated me to undertake this new project to assemble and re-publish those letters from way back then. I have some digital files going back to the 1980s, not to mention older ones in paper form that remain “lost” among the boxes full of saved documents.
I’m surprised at how much I’m enjoying the process of rediscovery and renewal. I’m reformatting, and annotating these files, adding a few pictures, and using something old to create something new. It’s not a mere nostalgia trip, nor is it a vanity project, it’s an opportunity to gain perspective on my life’s journey and how I got to where I am today; to show others “where I’m coming from” in expressing the ideas and proposals I’m propounding today.
As I savor anew the good times that I had, I’m also able to recall the tenor of the times and how I was influenced by them. My successes and failures, errors, and lessons learned, now stand out in sharp relief, showing me how I’ve become, for better or for worse, the man I am today.
It’s a project that will take some time, and may not ever be completed, but a good start has been made, and I will continue to work on it as long as the spirit moves me to do so. I’m posting these “memoir” files on my main website, BeyondMoney.net under a new Menu item called “Newsletters/Memoirs.” The earlier newsletters had to be scanned from paper documents that were at the time sent by “snail mail,” so these are presented as photocopies of the original, along with some description of their contents. Later newsletters were sent via email, so digital files are available which enables me to do some minor editing and annotation to update and expand their stories. In terms of my professional work, each “chapter” has relevance in that most of my travels involved invitations for me to participate and present at meetings, conferences, and workshops pertaining to my roles as monetary historian and theoretician, community economist, and developer and advocate for honest, equitable and effective means of exchange which I am convinced are a prerequisite if we are ever to have a peaceful world in which everyone is free to achieve their higher purpose and potential. I hope my readers will find these reports interesting as well as informative and inspiring. —t.h.g.
My webinar, Money, Power, Democracy, and War, that was aired on Humanity Rising last Tuesday, July 16, was recorded. In case you missed it, you can view it on YouTube. During the first 16 minutes or so, our host Jim Garrison expressed his thoughts on current national and world events; that was followed by his introduction, our presentation, and some further conversation. A few of the questions addressed were:
Why are nations continually at war when people want peace?
What do wars produce, and what do they destroy?
Who gains and who loses in war?
Where do governments get the money they need to finance war?
Is there a link between the monetary system and the political system?
In the process, I delved into some pertinent history and events that set the stage for our present deepening crisis, then began to describe the pathways towards re-empowerment of the people through decentralized initiatives involving independent means for measuring and exchanging value, beginning at the community level. Toward the end of the discussion, I offered my views on Bitcoin, cryptocurrencies, and blockchain technology. I’d be happy to have your comments. # # #
I will be appearing in a free webinar on Humanity Rising this Tuesday, July 16, at 8 AM Pacific time (11 AM Eastern time). You can get details and register to participate via Zoom by clicking here: Money, Power, Democracy, and War. You will receive the Zoom link a few hours prior to the event. I will be answering such questions as:
Why are nations continually at war when people want peace?
What do wars produce, and what do they destroy?
Who gains and who loses in war?
Where do governments get the money they need to finance war?
Is there a link between the monetary system and the political system?
The latest chapter in my new 2024 edition of The End of Money and the Future of Civilization, has now been published. Here is an excerpt: The entirety of money, banking, and finance is comprised of claims and obligations. — Thomas H. Greco, Jr.
It was in a dusty old bookshop close to the British Museum in London that I discovered a slim volume that was to complete for me the picture of how money has evolved over time. I had been traveling in Europe and the United Kingdom in the summer of 2001 with my then partner, Donna, attending conferences, meeting with friends and cohorts, and enjoying the sights, sounds, and cultures of the Old World. It was actually Donna who discovered the book in the basement stacks and brought it to me, saying, “What about this one?” The book was The Meaning of Money by Hartley Withers. Although I had already been engaged in intensive research into the subjects of money and banking for more than twenty years and had written three books of my own on the subject, I had not previously heard of Withers, but it was evident that he must have been, in his day, a recognized authority on the subject, and that his book must have served for a long time as a leading text; I surmised that from the fact that the volume I held in my hands was the seventh edition, published in 1947, of a work first published in 1909, and that Withers had been the editor of The Economist magazine from 1916 to 1921. Reading Withers crystallized my understanding of the double transformation that money had undergone during the previous three hundred years, an understanding that afforded a clearer comprehension of the nature and significance of the changes that have taken place, an understanding that prepares the ground from which to launch the next great improvement in the exchange process.
My interview on the Pelle Neroth Taylor show on May 30, 2024 was recorded and is now available. My portion of the show can be heard here, and a transcript can be seen here. This was a wide-ranging conversation about the problems with the present political system of money and exchange, and the decentralized exchange mechanisms that have been developing in parallel with it, including both commercial and grassroots currencies and credit clearing exchanges. __________________________ Bank of Dave
I recently viewed the movie Bank of Dave. It was both entertaining and thought provoking and based on a true story. Here is a description from Imdb: Based on the true-life experiences of Dave Fishwick; ‘Bank of Dave’ tells the story of how a working class Burnley man and self-made millionaire fought to set up a community bank. While the movie is highly fictionalized to add entertainment value, the important elements are factual. Seeking to satisfy my curiosity about that, I found this news report from the Manchester Evening News: How much of Netflix’s Bank of Dave is based on a true story?___________________________ Tim Berners-Lee’s Internet lament
Tim Berners-Lee is widely credited with being the inventor of the world wide web. In his article, Original Hope, he laments the fact that what he hoped would develop into an infrastructure that would “allow for collaboration, foster compassion, and generate creativity,” has come to be “dominated by the self-interest of several corporations that have eroded the web’s values and led to breakdown and harm.” He has issued a call for action that will “reform the current system and create a new one that genuinely serves the best interests of humanity… [and] encourage collaboration, to create market conditions in which a diversity of options thrive to fuel creativity and shift away from polarising content to an environment shaped by a diversity of voices and perspectives that nurture empathy and understanding.” He concludes by citing a few emerging innovations that are beginning to do just that. You can read about it on Medium. ___________________________ 2024 A pivotal year.
This year,2024, is shaping up to be both frightening and climactic. Several of the geopolitical developments of the past year have been causing serious upheavals in the economic and political relationships among nations, and simmering conflicts have boiled over and are threatening to erupt into another catastrophic world war. These issues and concerns were discussed in the podcast, 2023 Geopolitical Marathon, which featured the views and opinions of respected experts including, Pepe Escobar, Jeffrey Sachs, Jackson Hinkle, Alastair Crooke and Alexander Dugin. If you want to better understand the facts of these matters and what may happen next, please give it your attention. ___________________________ While I remain optimistic about our prospects, I’m also convinced that we cannot afford to be complacent. We need to inform ourselves and listen to all points of view while remembering that we are all one human family responsible for our own future and our common home we call Earth. We sink or swim together.
I am scheduled to be interviewed by Bruce de Torres on his World Stage program on Saturday, February 24, 2024 during the first segment of the program from 2 PM to 3 PM Eastern time (11 AM to Noon Pacific time, Noon to 1 PM Arizona time). You can tune in to listen live at https://tntradio.live/.
The world is governed by very different personages from what is imagined by those who are not behind the scenes. —Benjamin Disraeli, British Prime Minister under Queen Victoria
Chapter Five, the latest chapter in The End of Money and the Future of Civilization, new 2024 edition, is now available. It is being published first on Ken Richings; Substack channel, Future Brightly. Ken has greatly assisted my work in many ways, including editorial assistance and narration of each chapter. He has now posted all previous chapters, and starting now with Chapter 5, each new chapter will appear on his channel two weeks before being posted here on my website or elsewhere. I do not wish to place paywalls between me and my readers so all content will continue to remain freely available to read and download, either from Ken’s site or my own sites but I encourage you to reward Ken for his good work by opting to take a paid subscription to https://futurebrightly.substack.com/.
Chapter 3, The Contest for Rulership—Two Opposing Philosophies. is now available. You can find it on my website, complete with end notes, along with previously published chapters 1 and 2. Click on the links below to access the text and the audio narration. Additional chapters will be posted as they are completed here. I expect to complete Chapter 4 and post it around the end of this year.
As always, your comments and suggestions will be welcomed, Thomas ___________________
To satisfy my curiosity about AI, and ChatGPT in particular, I’ve been posing certain questions to it and been pleasantly surprised by the results. ChatGPT uses information that was publicly available online up to September 2021, so the responses that it generates will not include recent changes.
Here is one of my requests which, while much shorter, pretty well summarizes what I myself have written about the matter. I present it here for your information and your comments.
THG: Summarize the unique features of the work of Thomas H. Greco, Jr. on money and economics.
ChatGPT:
5/5 Thomas H. Greco, Jr. is known for his groundbreaking work on money and economics, focusing on alternative monetary systems and local economies. Some of the unique features of his work include:
Decentralized Monetary Systems: Greco advocates for the development of decentralized and community-based monetary systems that empower individuals and local communities to create their own means of exchange. He emphasizes the importance of currencies that are not controlled by centralized authorities like governments or banks.
Complementary Currencies: Greco promotes the idea of complementary currencies, which are designed to work alongside national currencies to facilitate local transactions and trade. These currencies are often tailored to specific communities or regions and can help stimulate local economies.
Democratization of Money Creation: He challenges the conventional model of money creation by banks and governments. Greco believes in the democratization of money issuance, allowing communities to create their own money based on real value and resources.
Mutual Credit Systems: Greco’s work includes the concept of mutual credit systems, where participants can extend credit to one another within a network. This can foster cooperation and exchange without the need for traditional banking intermediaries.
Localized Economies: He emphasizes the importance of localized economies that prioritize community resilience and sustainability. Greco’s work encourages communities to rely more on local production and resources to reduce dependency on distant supply chains.
Interest-Free Economics: Greco criticizes the conventional practice of charging interest on loans and believes that interest-free systems could lead to more equitable distribution of wealth and resources.
Advocacy for Change: Through his writings and lectures, Greco advocates for individuals, communities, and governments to explore and implement alternative economic and monetary systems. He believes that a shift away from the current monetary paradigm could lead to more just and sustainable economies.
In summary, Thomas H. Greco, Jr.’s work revolves around reimagining money and economics by proposing alternative monetary systems, promoting decentralized currencies, advocating for interest-free economies, and encouraging the development of localized, community-based economic structures. His ideas challenge conventional economic thinking and aim to create more resilient, equitable, and sustainable societies.
# # #
Update: Monday, August 28, 2023 This iteration is a bit more complete:
Thomas H. Greco, Jr. is known for his unique contributions to the fields of money and economics, particularly in the realm of alternative currencies and monetary systems. Some of the key features of his work include:
Local and Complementary Currencies: Greco emphasizes the importance of local and complementary currencies as tools for promoting economic resilience and community development. He advocates for the creation of currencies that are tailored to specific communities or regions, helping to stimulate local economic activity and reduce dependence on centralized national currencies.
Decentralization of Money Creation: A central theme in Greco’s work is the decentralization of money creation. He believes that allowing communities to create their own currencies empowers them to meet their specific needs, bypassing the traditional centralized banking system and enabling greater control over their economic destiny.
Credit Clearing Systems: Greco explores the concept of credit clearing systems, which facilitate transactions without the need for traditional currency. These systems work by enabling participants to exchange goods and services directly based on mutual credit agreements, reducing the reliance on scarce official currency.
Integral Theory and Economics: Greco integrates principles of integral theory into his economic thinking, considering not only economic factors but also social, ecological, and cultural dimensions. He emphasizes the need for a holistic approach to economics that takes into account the interconnectedness of various aspects of human life.
Monetary Reform Advocacy: Greco is an advocate for monetary reform, particularly in response to issues such as inflation, financial instability, and wealth inequality. He proposes alternative monetary systems that prioritize stability, fairness, and sustainability.
Educational Efforts: Beyond his academic work, Greco is involved in educational efforts to raise awareness about alternative currencies and monetary systems. He has authored books and conducted workshops to help individuals and communities better understand and implement these concepts.
Focus on Empowerment: One of the overarching themes of Greco’s work is empowering individuals and communities to have a greater say in their economic affairs. He believes that by rethinking the way money is created and circulated, people can gain more control over their economic lives and reduce their vulnerability to systemic financial crises.
Sustainability and Resilience: Greco’s work aligns with the principles of sustainability and resilience. By promoting local economies and alternative currencies, he aims to create systems that are more environmentally friendly and less susceptible to the boom-and-bust cycles of traditional monetary systems.
In summary, Thomas H. Greco, Jr.’s work on money and economics revolves around the development of local and complementary currencies, decentralization of money creation, credit clearing systems, integral theory integration, monetary reform advocacy, educational initiatives, empowerment, and a focus on sustainability and resilience. His ideas challenge conventional economic thinking and offer potential solutions for creating more equitable and community-driven economic systems.
It should be clear by now that there are many aspects of our present civilization that are neither just and equitable nor sustainable. But in the midst of the deepening global mega-crisis we have the opportunity to re-imagine and reinvent the systems and structures that are failing us, particularly those of money and the exchange of value. In this event we will discuss practical ways to pay and be paid without the need to use the kind of money that we are accustomed to, ways that can empower our communities by rewarding those who produce and provide real value. Sign up today at Eventbrite.
The first edition of my book, The End of Money and the Future of Civilization, was published by Chelsea Green Publishing in 2009. While it remains as relevant today as it was when first published the printed book has been out of print for several years. But, having had the rights reverted to me by my publisher, I am making the entire book available for free in PDF format. You can read it or download it HERE. If you would like a hard copy of the first edition used copies can still be found on Amazon.com, Abe books, Thrift books and elsewhere.
Better still, you can avail yourself of the new revised and expanded 2024 edition which I have been working on for almost two years and is almost complete. Eighteen chapters have already been posted and can be freely read or download HERE.
My previous books, as published, may be freely accessed in digital format by clicking the title below.
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Upon the recent completion and publication of my new Chapter 20—Exchange, Finance, and the Store of Value, for the revised edition of my book, The End of Money and the Future of Civilization, I loaded it into NotebookLM and asked … Continue reading →
I subscribe to Alex Krainer’s Trend Compass channel on Substack, as well as his YouTube channel. Krainer provides historical lessons which highlight persistent patterns that impact our lives today. He recently published a two part essay on the West under … Continue reading →
I recently had a conversation with Copilot about designing an honest and effective exchange system that would circumvent the flawed and exploitative fiat money system. I began by saying, “The political money system is structurally flawed, and its eventual collapse … Continue reading →
