Category Archives: Implementation Strategies

Final Workshop Announcement—Innovative Finance and Exchange

Society is Exchange! – Frederic Bastiat.

All the perplexities, confusions and distresses in America arise not from defects in the Constitution or Confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit and circulation.
– President John Adams, from a letter to Thomas Jefferson (1787-08-25), in The Works of John Adams

As the time grows near I want to remind everyone that my workshop on innovative finance and exchange is set to begin in about 10 days time at Kalikalos Holistic Summer School in Greece (http://www.kalikalos.org/exchange-finance). It will start on the evening of 24 June and conclude on the morning of 1 July.

While it is described as a “course,” the format will be that of a workshop/colloquium in which everyone plays an active role in an intensive process of inquiry, discovery, sharing and collaboration aimed at:
1. achieving a deeper understanding of sound principles of credit, finance, and the exchange process, and,
2 developing action plans for the design and implementation of robust systems that can be widely proliferated and quickly scaled up to global dimensions.
3. assembling a knowledge base that can provide guidance to others on the same path toward achieving more equitable and sustainable economic structures.

There is still space available for those who feel moved to participate.
Details about the course, fees, and booking are at http://www.kalikalos.org/exchange-finance.
Some of the areas that we will explore include:

  • The essence, function, and forms of money
  • The concepts of currency, credit, credit clearing, liquidity, monetization, and basis of issue
  • Various models of private currencies and moneyless exchange
  • Value measurement and units of account
  • Exchange networks and inter-trading

Don’t let finances stop you as will be able to offer a limited amount of bursaries. Please write an application for that to our team at rachaeldavson@gmail.com.

We offer Greek participants who take part in the week-long workshop a discount of 30%.
The weekend Saturday, 25 and Sunday 26 is being offered to Greeks on a Gift Economy basis which means that you offer what you are able to give. If you want to participate on these terms please send a mail to: rachaeldavson@gmail.com.

I look forward to working with you.  –Thomas

Greenbacks, monetary reform, or revolutionary innovation?

I have long argued that the likelihood of getting government to do anything “good” about the money problem is near zero because the controllers of the present monetary regime are able to buy the kind of government they want that will keep in place the system that enables them to consolidate their power and increase their wealth.

Even if your proposal to restore the Greenback could be legislated into actuality it would only be a stop-gap measure and there would be negative side-effects. FDR ameliorated the 1930s crisis in a somewhat similar way and managed to get some progressive legislation passed, and WWII provided the war-bondsexcuse for massive government deficit spending (along with rationing and “bond drives” to control consumer demand).
Massive increases in productivity enabled a flood of consumer goods to enter the market after the war, and people had the money to buy them.

But in today’s world the old tricks will not be sufficient. We need a totally new system of money, banking and finance, one that is decentralized and interest-free. This will emerge by the design and deployment of relatively small credit clearing exchanges in which it is possible to build trust through personal relationships (verified identity and reputation of all parties, along with organizational transparency), and to allocate credit to members based on that and the market value of their output. At the same time, these credit clearing exchanges can be networked together to enable non-monetary payment on a global basis–a payment system that I describe as “locally based but globally useful.”

We will have an “exchange revolution” that is analogous to the IT revolution. Our micro-computers were initially isolated and had limited capabilities; now we have tremendous power right at out fingertips to do many useful things, and our local devices are linked through the internet giving us unprecedented access to each other almost anywhere and anytime, and almost unlimited amounts of information on most any subject.

Realization of this vision is close at hand.–t.h.g.

Thomas H. Greco interviewed on Bartertown Radio

My December 13 interview by Bob Prentice and Sandra Harshman on Bartertown Radio considered moneyless trading in general then zeroed in on what needs to be done to take credit clearing and private currencies to scale. To stream it or download it, click here.

Living the New Economy. Thomas H. Greco to speak at October conference

Living the New Economy is a major event slated for Oakland, California October 23-26.

LNE Oakland is designed to be different from any event you’ve attended before. Drawing inspiration from hackathons, conferences, networking events, festivals, and jams, the result is a unique event that has components of each. More than a conference, this is a convergence.

The first two days will be provide opportunities for you to “hear about thriving New Economy projects, identify gaps and opportunities, and find out how you can plug into the New Economy on a personal level.” During the second two days the New Economy principles will be explored and “participants will collaborate in teams to develop a business idea, program, art project, or anything that supports the transition to a New Economy.”

I am one of several speakers who will be presenting at the conference. Program and other details can be found at the conference website.

Get tickets NOW to receive substantial early bird discounts available until August 15. Register and get tickets here.

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Revolutionary aid project set to spread in Kenya

On the heels of the successful Bangla-Pesa community currency project, the NGO, Koru Kenya has been asked by the government to create similar programs in other poor neighborhoods around Nairobi and Mumbasa. Unfortunately, no significant funding is being provided by the government, so private contributions are being solicited through a Crowdfunding campaign at Indiegogo: Fight Poverty in Africa by Redefining Community Development.

This is a revolutionary approach to aid, one that empowers people to sustainably provide for their own needs. I strongly endorse this project and encourage all to make a financial contribution. Even small amounts can make a big difference. –t.h.g.

Qoin launches B2B exchange

Community Currencies in Action (CCIA) has announced the launch of TradeQoin , a business-to-business trade exchange in the Netherlands.

As their website describes it, “TradeQoin is a trading network for SME entrepreneurs to do business with each other and pay with their own digital form of payment: the TradeQoin. Entrepreneurs can use TradeQoin to purchase and sell quality products and services. By selling products and/or services the entrepreneur can earn TradeQoin. These can then be spent on making purchases within the network, which reduces Euro expenditure.”

The video below features members describing the benefits of the exchange.

http://youtu.be/7VuIpFO7zZM

You can read more about it here, http://communitycurrenciesinaction.eu/sme-tradenetwork/

 

Everything’s connected: small changes can have big effects

What are the implications of this for transforming the system of exchange and finance?