On today's show, Thomas H. Greco, Jr. discusses how centralized control of money, banking, and finance enables a small global elite group to acquire unprecedented power and wealth, dominating economics, politics, and virtually every aspect of society. He emphasizes the need to segregate the various functions of money, including its role as a medium of exchange, measure of value, and store of value. Greco argues that the essence of money is credit, serving solely to facilitate the exchange of value in the market. He asserts that a measure of value must be based on some real commodity or group of commodities and that the savings or store of value function is achieved not by storing money but by investing it in either real assets or long-term financial claims.
GUEST OVERVIEW: Thomas H. Greco, Jr. is a former engineer, professor, and entrepreneur who has, for more than forty years, been researching, writing, lecturing, and advising in the fields of money, mutual credit systems, community currencies, and financial innovation. He has authored many articles and books, including his highly acclaimed THE END OF MONEY AND THE FUTURE OF CIVILIZATION: Reinventing Money for The Honest Exchange of Value, which is currently being revised, updated and expanded. Chapters are being posted at ThomasGreco.substack.com. Almost all of his writings, presentations, and interviews can be accessed and downloaded free of charge at BeyondMoney.net.