This video is based on a presentation I gave at the Economics of Peace Conference in Sonoma, California in October, 2009. My prescriptions for reclaiming the credit commons and creating a new “butterfly economy” remain completely relevant, and their implementation is becoming ever more urgent.
In November of 2009, I gave a presentation at the conference on Michigan’s Future Energy, Economy & Environment, at Crystal Mountain Resort in Thompsonville, Michigan. More than 10 years later, this presentation is still timely.
Ken Freeman has recently augmented and adapted recordings of that presentation to produce this new video, titled, Exchange Revolution, which has now been posted on our Beyond Money Podcast site. It is a comprehensive description of the what and how of transcending the political fiat money regime, and building a new equitable system of value exchange.
In Ellen’s October 10 podcast, on which I was the featured guest, I argue that our best hope for escaping the tyranny of the global banking cartel lies in creating a decentralized network of exchange in which credit is locally controlled and allocated based on personal relationships and the productive capacity of community economies (starting at 27:25). This episode begins with a report by David Jette of the California Public Banking Alliance on the landmark public banking legislation that was recently passed into law in California. David describes what this act enables and the long and arduous process of getting it passed.
As society grapples with the reality of
climate change, many believe that technology will somehow save the planet. As
this book argues, that is not enough: larger-scale collaboration, coordination,
and funding is needed. Individuals and groups, even with significant personal
resources, will not be able to reverse the present course of ecological
disaster. What our endangered planet needs is broadly supported community
action, which is what happens when people come together and organize for the
common good. What we need, in short, is political structures and actions. The
essays in this book examine the political structures that have led to our
present crisis and offer concrete lessons from the U.S., Japan, Brazil, and
Greece, that can, if heeded, bring us back from the brink and toward an
This book of essays emerged out of some of the presentations
that were given at a major conference, Seizing
an Alternative: Toward an Ecological Civilization. that was organized by Center
for Process Studies and held at Pomona College (CA) in June 2015 and attended
by more than 1500 people. It includes two of my own essays, Greece and the Global Debt Crisis, and How Private Currencies and Credit Clearing
Exchanges Can Help Save Civilization, as well as essays by John Cobb, Ellen
Brown, Gayle McLaughlin and several others.
The full list of contents and order form can be found here.
The book can also be ordered on Amazon.com
Recently, I came across an article about what seems to be a significant development in the commercial trade exchange industry. Published on February 15, 2018, the article, TradeAuthority rebrands as Moxey with new digital currency, national expansion plans, tells about the expansion and rebranding of a commercial trade exchange heretofore known as TradeAuthority. Operating for the past several years in the Gulf Coast region of the southern United States, TradeAuthority has developed along lines somewhat different from most other trade exchange companies. I’ve had some peripheral knowledge of TradeAuthority for a long time but after reading the article I decided it was time for me to reach out to its founder, Chip Davis, with the intention of gaining a more detailed picture of how they operate and their plans for further development and expansion. The company, now named Moxey, is a network of 14 autonomous member-owned local trade exchanges, member ownership being a unique feature in the commercial trade exchange industry.
The key players in the Moxey enterprise are Chip Davis, founder of TradeAuthority and current Executive Vice President of Moxey, Charlie Davis, President of Moxey, and Warren Sager, Moxey Vice President of Operations.
Some Key Questions
In my message to Chip Davis, I posed the following questions:
What degree of autonomy do the various (14) exchanges in your network have?
Is it possible for a member in one exchange to buy/sell directly with a member of another exchange in the network? Does your platform provide that functionality or does the trade need to be pre-arranged with brokers in the two exchanges?
Is there a single Moxey ledger for the entire network or does each exchange have its own? If the latter, how are accounts reconciled among the exchanges, and how often?
Do you participate in UC? [UC is “Universal Currency,” a credit currency that many trade exchanges use to enable their members to buy goods and services from members of different trade exchanges.]
What are the factors you use to allocate lines of credit? How are they weighted? Are all exchanges in the network required to apply the same algorithm in allocating credit lines to their members?
You say, “Moxey intends to be a better Medium of Exchange by removing the concern of inflation.” How does it do that?
Is you online portal a complete marketplace that includes offers and requests? Vendor and client background? Reputation ratings?
When using the app or online portal, is approval of the transaction immediate?
You also say, “It also removes the extreme deflationary dangers that can exist in a purer form of money such as gold.” Can you explain that?
What additional functionality will be achieved by using blockchain? “The major thing behind all currencies is a trust and transparency in knowing the currency is strong and blockchain technology will allow an additional level of transparency,” says Warren Sager, Moxey vice president of operations. “It will allow our currency to become stronger and more trustworthy.” But that does not address the transparency of the credit allocation process. Please comment.
The trade exchange industry seems to have been for some time on a plateau or slow growth trajectory. How do you see moneyless trading alternatives evolving over the next few years, and how much of an increase in scale do you anticipate?
You can read Chip’s and Charlie’s answers, and our full conversation by clicking here. –t.h.g.
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