Fundamentals of Alternative Currencies and Value Measurement - (Thomas Greco)

Fundamentals of Alternative Currencies and Value Measurement. This article by Thomas Greco really drives home the need to split from the dollar not only as a medium of exchange but also as a value standard if an local currency system is to really have a positive impact on communities. This can happen when alternative currency flows directly into the community “monetizes” goods and services with real, assignable standards of value.

This is what I mean when I talk about liberating the exchange process and restoring (some part of) the “credit commons” and bringing it under local control. In this way, the community gains a measure of independence from the supply of official money (dollars) and the policies and decisions of the central bank (which in the US is the Federal Reserve) and the banking cartel. That is the primary mission that needs to be accomplished if we are to transcend the destructive effects of the global monetary and banking regime, devolve power to the local level, and build sustainable, economic democracy.

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