A new page has been added to this blog, containing a recent report by Susan Witt on the WIR credit clearing association that has been operating in Switzerland for more than 70 years. Now called the WIR Bank and providing conventional banking services, WIR is an important case for monetary reformers and free exchange advocates to study. While there may yet be some deficiencies in its operating policies, WIR has proven over a long period of time the effectiveness of direct clearing of credits between buyers and sellers as an alternative to conventional bank-created debt-money.
An English translation by Prof. Philip Beard of Prof. Tobias Studer’s WIR and the Swiss National Economy can be downloaded from Lulu. com for $3.
An Annotated Précis, Review, and Critique of Prof. Tobias Studer’s WIR and the Swiss National Economy by Thomas H. Greco, Jr. and Theo Megalli can be found on another page on this blog.