Tag Archives: credit clearing

End of Money Excerpt on Reality Sandwich

Posted on June 11, 2009 | Leave a comment

An excerpt from my book, The End of Money and the Future of Civilization, has been published on Reality Sandwich. Is is one of the more important chapters, which contains a prescription for community empowerment and enhanced self-determination. That chapter, A Regional Economic Development Plan Based on Credit Clearing,  is also here on this site under “Excerpts.”

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Posted in Developing Alternatives, Implementation Strategies, Prescriptions

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My 2 Minute Elevator Speech

Posted on November 24, 2008 | 1 comment

I’ve added to this site my “Two Minute Elevator Speech About Solving the Money Problem.” You can find it under My Audio-visual presentations in the list at the right, or just click here.

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Posted in Basic Concepts, Exchange Design, The Political Money System

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A Report on WIR by Susan Witt

Posted on October 20, 2008 | 5 comments

A new page has been added to this blog, containing a recent report by Susan Witt on the WIR credit clearing association that has been operating in Switzerland for more than 70 years. Now called the WIR Bank and providing conventional banking services, WIR is an important case for monetary reformers and free exchange advocates to study. While there may yet be some deficiencies in its operating policies, WIR has proven over a long period of time the effectiveness of direct clearing of credits between buyers and sellers as an alternative to conventional bank-created debt-money.

An English translation by Prof. Philip Beard of Prof. Tobias Studer’s WIR and the Swiss National Economy can be downloaded from Lulu. com for $3.

An Annotated Précis, Review, and Critique of Prof. Tobias Studer’s WIR and the Swiss National Economy by Thomas H. Greco, Jr. and Theo Megalli can be found on another page on this blog.

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Posted in Developing Alternatives, Exchange Design

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Brazil, Argentina abandon US dollar

Posted on October 12, 2008 | Leave a comment

Look for more bilateral agreements like this in the near future. This is a logical thing to do so long as neither country is abusing their currency too badly and the countries have a balance in their trade with one another. Their currencies will quickly find their way back home.
I expect these bilateral agreements to evolve into multilateral agreements that use the credit clearing process to net out accounts amongst the central banks.

The surprising thing here is that the central banks of Brazil and Argentina seem to be taking a course that is independent of the global banking fraternity. Read the article here. — t.h.g


Brazil, Argentina abandon US dollar

Brazil and Argentina have launched a new payment system in their bilateral trade, doing away with the US dollar as a medium of exchange.

The two Latin American nations started the Payment System on Local Currency (SML) on Monday following a last month agreement inked by their presidents to use local currencies in a bid to end transaction in dollars.

On Thursday, Argentine Central Bank President Martin Redrado and his Brazilian counterpart Henrique de Campos Meirelles signed the enforcement of the agreement for the SML, under which exports and imports between the two countries will take place with the Brazilian real (BRL) and the Argentine peso (ARS).

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Posted in Developing Alternatives, Global Economy, The Political Money System

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Money and Power

Posted on May 8, 2006 | Leave a comment

What the world needs now is practical approaches to resolving the problem of power.

The key question is “who decides?” Right now, the process has been rigged so that a self-serving few decide for the many. How are they able to do that?
The key is MONEY.

Did George Bush and Tony Blair come begging to the people to donate money so they could attack Iraq?
Did they even ask us to pay higher taxes so they could fight this war?
Obviously, they did not. Bush even LOWERED taxes, especially for “his base,” the rich and well-connected.
How is it possible for expensive wars to be fought without raising taxes?

William Patterson and his cohorts figured that one out more than 300 years ago when the Bank of England was founded. They had no trouble selling the idea to King William III. The deal was this: The King got the money he needed to fight his war against France, while the financiers got the privilege of printing bank notes and lending them into circulation.
This perversion of the monetary system has since been “perfected” and spread almost universally to every country around the world. The power to control the creation and allocation of money (which is nothing more than credit) is the basis for all political power.
Until we do something about that, nothing much is going to change.

Fortunately, it is possible to restore “the credit commons” through voluntary, free market approaches. How? By establishing credit clearing associations that can be networked together worldwide.

LETS prototypes have given thousands of people some idea of how credit clearing works. Now we must take mutual credit clearing to the mainstream and build it to scale. E. C. Riegel had the vision but not the tools; we now have both the vision and the tools. Read my book, The End of Money and the Future of Civilization, view my presentations and interviews on this site, https://beyondmoney.net/, read the works of E. C. Riegel (free downloads at https://reinventingmoney.com/library/. Start by reading his Private Enterprise Money) and explore the other important resources listed in the Library.

[Updated, March 26, 2017]

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Posted in Exchange Design, Prescriptions, The Political Money System

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