Legal Tender and the Credit Clearing Function

KMO welcomes Thomas H. Greco, Jr. to the C-Realm to discuss money and possibilities for "clearing credit" without the need for legal tender, which Thomas calls, "political money." The thorough-going discussion includes the origin of fractional reserve banking, the destruction and possible restoration of the "credit commons," Abraham Lincon's Greenbacks, Gresham's Law, the role of central banks and the world of possibilities for clearing credit beyond the decline of political money. The episode concludes with a teaser discussion with Left in the Dark author, Tony Wright.

Music by Yuki Taniguchi.

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