Money is just an accounting system, keeping track of who is entitled to how much goods and services. Edwin Clarence Riegel pointed this out as early as 1944. However, most people still think of money as something physical — something that has to “come from somewhere”.

Collectively, in your local community, you indirectly borrow millions of U.S. dollars to keep track of the money that is circulating within the community. We all do. This makes no more sense than renting points to keep track of baseball scores.

Common good banks can save communities millions, by making it easy for us to stop renting our accounting units.