"The politicization of money, banking and finance - which prevails throughout the world today - has enabled the concentration of power and wealth in few hands - a situation that has been extremely damaging to societies, cultures, economies, democratic government and the environment. National governments have arrogated to themselves virtually unlimited spending power, which enables them to channel wealth to favored clients, to conduct wars on a massive scale and to subvert democratic institutions and the popular will. The privileged private banking establishment has managed to monopolize everyone's credit, enabling the few to exploit the many through their partiality in allocating credit, by charging usury - disguised as "interest" - and increasingly exorbitant fees, and by rewarding politicians for their service in promoting their interests.
"These two, government and banking, have colluded to create a political money system that embodies a "debt imperative" that results in a "growth imperative" which forces environmental destruction and rends the social fabric while increasing the concentration of power and wealth. It creates economic and political instabilities that manifest in recurrent cycles of depression and inflation, domestic and international conflict, and social dislocation." (p.43)
"With the proper implementation strategies and the application of sound financial principles, direct mutual credit clearing is an unstoppable technological advance that has the power to ameliorate myriad economic, political and social problems, and establish a solid foundation needed to enable civilization to make a major leap toward a harmonious, sustainable way of living." (p.107)
"Clearing is simply the process of accounting that offsets debits (resulting from purchases) against credits (resulting from sales). When you sell something, your account balance is credited (increased); when you buy something, your account balance is debited (decreased)." (p.104)