"their own method of exchange."

A People's system?

Could it be possible? Exchanging goods and services without money?

You can be sure that the banking industry was not taking this potential threat lightly.

After all, under the money/taxing system that existed at the time, both the government and the People borrowed almost all the money they used from a central bank.

The money this central bank printed gave no promise that it was backed by any real value. In fact, it would have been counterfeit except for the fact that the government had proclaimed it to be real.