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“Real Money” features Malaysia Conference Presentation

Real Money: Money and Payment Systems from an Islamic Perspective is a new anthology from the IIUM Press, Malaysia. Edited by Professor Ahamed Kameel Mydin Meera of the International Islamic University Malaysia (IIUM), this book contains contributions from several authors including yours truly. My chapter titled, The End of Money and the Liberation of Exchange, is essentially a transcript of the presentation I gave at the 2007 Gold Dinar Conference in Kuala Lumpur. In it, I outlined the basic framework for a global credit clearing network that utilizes no national currencies as payment media and no political currency unit as a value measure. As I did in my first book, Money and Debt: A Solution to the Global Crisis, I argued that the various functions that money is supposed to serve—medium of exchange, measure of value, and store of value—can and must be segregated, and described a global payment system based on direct credit clearing, using an objective, concretely defined measure of value, like the gold Dinar, silver dirham, or some composite commodity standard. I outlined how this Shari’ah compliant approach could provide inflation-free accounting, achieve full employment, reduce the need for foreign exchange reserves, eliminate exchange rate risks, and provide more equitable trading relations among all the peoples of the world. My presentation can be viewed at The book is available from IIUM Press, Kuala Lumpur, Malaysia. Email: [email protected]. Phone: +6603-6196-4862 Read the original post at Beyond Money.
endofmoney Thomas Greco is the author of The End of Money and the Future of Civilization.

The Emergence of Self-Organizing Systems of Exchange

Joseph Jaworski is the author of Synchronicity: The Inner Path of Leadership. In a message today from the publisher announcing the second edition of the book, I noted the reference to Jaworski’s “Four Principles to Access the Source of Innovation.” Although I’ve not yet read the book, I did take a look at the blog […] Read More..

Coping, Caring, and Building Community

As the financial and economic ground continues to shift beneath our feet, it becomes ever more imperative that we reduce our dependence upon the institutions and structures that we have come to depend upon and take for granted. The financial tsunami of 2008 and the continuing aftershocks should be a wakeup call. The sock markets […] Read More..

The Great Unraveling—Entering Stage Two

There has been very little recognition of the Debt/Growth Imperative that is built into our global system of money, banking, and finance. As I have been preaching for many years, the creation of money as interest-bearing debt requires that indebtedness, in either the private sector or the public sector, must be continually increased at an […] Read More..

Money and Oil: The agenda in Libya becomes more evident

I hadn’t noticed it before, but on March 22, Bloomberg reported that, Libyan Rebel Council Forms Oil Company to Replace Qaddafi’s.Well, we’ve grown to expect things like that. The more interesting development reported in the article was this:The Council also said it “designated the Central Bank of Benghazi as a monetary authority competent in monetary […] Read More..

Stop Chasing the Buck and Change Your Luck

Cashless trading based on credit clearing is moving into its next stage of development, the optimization and scale-up stage. Established groups and associations are beginning to recognize the importance and urgency of disengaging from conventional structures of money and banking, reclaiming “the credit commons,” and reorganizing the exchange of value under local community control. One […] Read More..