Monthly Archives: August 2013

Excitement mounts over upcoming IRTA Convention!

The International Reciprocal Exchange Association (IRTA), the premier association of the commercial “barter” industry, has been for more than forty years promoting the interests of small and medium sized enterprises by assisting its member trade exchanges to provide them with liquidity and effective opportunities for moneyless trading.

Since 2005, IRTA has been reaching out to the wider grassroots community of researchers, developers, and organizers of private currencies and complementary exchange mechanisms and has broadened its advocacy to include them.

The upcoming 34th Annual International Convention of the IRTA in Las Vegas will provide a unique opportunity for social entrepreneurs and monetary activists to further consolidate programs of cooperation with the well-established commercial “barter” sector of the moneyless exchange movement. The Convention will be held from Sept. 19 thru 21 at the Venetian Resort in Las Vegas.

Along with IRTA President and experienced trade exchange operator Annette Riggs, and Rob van Hilten, Executive Director of QOIN, a consultancy for community currencies, I will be a panelist in a Saturday session (September 21) titled Understanding Diverse Exchange System Models: From Bitcoin and Berkshares, to Transparent Credit Clearing Networks. This session will consider three basic topics of discussion:

Bitcoin, the good, the bad, and the ugly.

The benefits and limitations of cash-based local currencies.

The emerging global exchange network.

There is still time to register for this important event. You can get details about the convention program and secure your place by visiting the IRTA website at http://www.irta.com/.

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Charges dropped, Bangla-Pesa prepares to re-launch in Kenya

In June, I reported the launch and abrupt shutdown of an exciting community development project in a poor suburb of Mombasa, Kenya. The Bangla-Pesa voucher system, conceived and organized by American aid worker Will Ruddick and several local micro-entrepreneurs, is intended to provide additional liquidity that makes it possible for unmet needs of local residents to be satisfied out of their own excess productive capacity.

After a mere two weeks of operation, the Government of Kenya arrested Ruddick and five local micro-entrepreneurs, charging them with forgery. Amidst an indignant outcry from the global development and complementary currency community, the case bounced around through the Kenyan bureaucracy and on Friday, the central bank finally dropped the charges.You can read about this latest development on the Koru Kenya website.

Now, the way appears to be clear for this project to move forward and to build upon its early success. The Bangla-Pesa project is in my opinion one of the most promising current developments in the realm of alternative exchange and community development and deserves wide support as other similar communities line up to replicate it.

Here are 6 short and inspiring videos that tell the whole story. I suggest that you view them all starting with the background of the Bangla-Pesa up through the State’s withdrawing the case. These videos are automatically played in sequence.–t.h.g.

Community-based, citizen-led solutions: Greece shows the way.

Regarding effective community initiatives, you might want to read this inspiring article from Der Spiegel about two Greek women in Athens who have done some remarkable social action things: People Power: Young Greeks Team Up to Combat Crisis.
This story shows what Greeks can do, and are doing, to make things better for themselves, aside from government policies and actions, by organizing “self-help initiatives to provide free medical care, repair street lighting and monitor public spending.”
The rest of the world might follow their lead. read about it here.

Hungary pays off IMF, tells them to leave.

Hungary is about to pay off its debt to the IMF and has ordered their employees to leave the country “as soon as possible.” The Hungarian Minister of Economics says his government is confident that it is well positioned to pursue an independent economic policy.

Is this the start of a revolt of sovereign nations against the global bankers? Will others follow Hungary’s lead? What sort of backlash might be expected?  Will the bankers try to influence next year’s elections, or failing that, will more drastic actions be taken to oust the present Hungarian government? As a member of the EU, Hungary will be no push-over like Libya.

FED: “your gold is safe with us, just don’t ask for it back.”

The global banking farce is becoming ever more hilarious (if you can ignore the tragic consequences of this monumental fraud). Germany is seeking to repatriate its gold that is supposedly held by the US Federal Reserve, but the Fed says, “Nein, you cannot even examine it.”

 Watch this RT report to get the story:

Understanding the “big picture” of change

The past several decades have seen the emergence of diverse movements that seek to address specific problems and provide general improvements to society. Environmentalists have been trying to stop pollution, climate change and resource depletion; civil libertarians seek to stop the abuse of basic human rights and the erosion of democratic institutions; humanitarians are trying to end hunger, disease, and degrading treatment like human trafficking, genital mutilation and genocide, to name a few.  And yet, the juggernaut rolls on, destroying more forests, polluting more water, concentrating more power and wealth in fewer hands. The need for change is obviously becoming more urgent, but why isn’t it happening?

This latest post by Tom Atlee helps to frame both the fundamental problem and broad approaches to transformation. Please give it your careful attention– then take appropriate action.

Surveillance and parasitism harm society’s collective intelligence

New video describes “A flaw in the monetary system”

This is an excellent video–clear, concise and accurate. If you want to understand why we have recurrent financial crises, dire want amidst plenty, and why debts keep growing faster than ability to pay them, this is a great place to start.–t.h.g.

“The new film ‘A Flaw in the Monetary System?’ depicts in 7 ½ minutes consequences of interest and compound interest in the financial world in descriptive graphics. It illustrates the systematic redistribution of money from the majority to the wealthy.”

See it here: https://vimeo.com/71074210