The next “Free Abundance” is credit
The appropriation of credit by the government and banking sectors diverts a huge proportion of the economic output from need satisfaction to war, accumulation, and waste.
The practical limits on credit to the private sector are:
- The productive capacity of the buyer, and
- The trust of the seller
The greatest enemy of mankind is his ignorance of the inherent money power in all of us. When the realization of this comes to man, he will like Samson, push down the walls of his prison.
“Money can be issued only in the act of buying, and can be backed only in the act of selling. Any buyer who is also a seller is qualified to be a money issuer. Government, because it is not and should not be a seller, is not qualified to be a money issuer.”
E. C. Riegel
“…the extension of exchange transactions without state <bank> money is in reality the beginning of a new system of settling accounts, indeed the beginning of a new economic order.” Ulrich von Beckerath