Fair exchange is a process whereby the producer sells his energy in one form and buys it back in another form. Thus the individual produces all the things he acquires, just as he did before exchange was introduced; he merely makes more and acquires more. Since the individual is the fountain of all wealth and the rightful acquirer thereof, and since to effect his productive-consumptive cycle he must utilize money to mediate his exchanges, is he not also the only rightful fountain of the money required for such exchanges? What has the Government to do with it? Could not men work and exchange by means of money even if there were no political government?

The premise of the prevailing monetary theory is that money issuance is a sovereign political power, and that government must either issue money for producer-traders or authorize banks to grant the power to a selected few at a price. Since the individual's ability to produce is dependent upon his ability to exchange, is it not obvious that to place the power to create the means of exchange in the hands of a privileged group gives to those privileged ones the power to control the individual's capacities either by design or by error with resultant miscarriages?

The power to produce wealth and the power to produce the means of exchanging such wealth must be coextensive and reside in the same person. This is the premise of personal enterprise money.