Sunday, September 30, 2012
Saturday, September 29, 2012
Demurrage Exchange of Ideas
Tom Greco (TG): paper vouchers can be drawn against a member’s account as a temporary convenience for making small transactions or to pay non-members of the system for goods or services. These vouchers should have a limited period of validity (expiration date) to assure that the credits return promptly to the ledger system.
John Turmel (Jct) : Why would my poker chip IOU have an expiry date? What use does that serve? How long is too long?
And that means someone gets stuck with a useless piece of paper if they don’t manage to spend it back to you in time.
TG: In any case, the paper vouchers should never be more than a small portion of the credits circulating in a community exchange (credit clearing) system.
TG: John, the health of an exchange system depends upon the continual circulation of credits and timely redemption of obligations. A system credit, whether represented on a ledger or as a paper voucher, is evidence of someone's obligation to deliver goods or services. Whoever issued the credits in the first place by receiving goods and services is obliged to redeem them by later accepting them as payment for his goods/services. Credits cannot be allowed to remain idle for too long a period of time. Anyone having a surplus of credits should either spend them or allocated them to someone else as an investment. That person will then spend them and enable the original issuer to thereby redeem them. Ledger credits, above a specified amount, can be reallocated to investments as part of the membership agreement, (your credits are not lost, just reallocated to savings) but paper can be hoarded or permanently lost. That's the reason for the expiration feature. Loss can be avoided by spending the vouchers or depositing them to your ledger account. I believe i explained this in my book, Money: Understanding and Creating Alternatives to Legal Tender.
TG: Credits cannot be allowed to remain idle for too long a period of time.
Jct: Why? How long is too long?
TG: Anyone having a surplus of credits should either spend them or allocated them to someone else as an investment.
Jct: Why would someone else need your chips as an investment when they can get their own chips interest-free at the cage?
TC: That person will then spend them and enable the original issuer to thereby redeem them.
Jct: Why does the original emittor need to redeem that particular chip. Why not just pay his debt off by earning others?
TC: Ledger credits, above a specified amount, can be reallocated to investments as part of the membership agreement, (your credits are not lost, just reallocated to savings) but paper can be hoarded or permanently lost. That’s the reason for the expiration feature.
Jct: Because someone may lose their poker chips, there should be an expiry? I see no reason what should be so. Someone else will find them and cash them in. Just like regular chips or money. Do we want an expiry feature on our money because some people may lose some?
TC: Loss can be avoided by spending the vouchers or depositing them to your ledger account. I believe i explained this in my book, Money: Understanding and Creating Alternatives to Legal Tender.
Jct: And loss can be avoided by not having chips that expire for no good reason.
NOTE: The original article by Tom Greco is posted at this website:
Demurrage: Is It A Good Idea For A Local Currency Or Exchange System?
List of 94 UsuryFree Community Currencies In the United States
Alternative Currencies/ Barter Systems
"Our world is changing and the monetary system that has existed and created such great imbalance is also undergoing a huge and necessary shift. When there is so much disparity between the corporate sector and all things to do with people and higher values, a re-balancing must take place. A shift away from making profits at the expense of morality and justice to a focus on service, local communities, inner values and a more equitable distribution of abundance will unfold. To enlighten yourself about the current system, you might want to see the following..." (snip) ...
Read the complete article with an abundance of resource links at this website:
Thanks to New Earth Cyber School for creating and posting this list of 94 usuryfree community currencies in the United States.
And the list does not yet include (a) Mountain Hours (b) Mile High Hours and (c) Clearwater Hours - that makes 97. AND there are probably others not yet listed. It is all good news!!
2. Anacostia Hours Mount Rainier, Maryland
3. Area Bucks Palo Alto, California
4. Atlanta Hours Atlanta, Georgia
5. Bainbridge Island Bucks Bainbridge Island, WA
6. Baltimore Hours Baltimore, Maryland
7. Barter Bucks Indianapolis, Indiana
8. Barter Network, The Winter Park, Florida
9. Bay Area Bucks Traverse City, Michigan
10. Berea Bucks Berea, Kentucky
11. Berkeley Barter Network Berkeley, California
12. Berkeley Bread Berkeley, California
13. BerkShares, Southern Berkshires, Massachusetts
14. BloomingHours Bloomington, Indiana
15. Blue Money Brattleboro, Vermont
16. BNI Delaware, Pennsylvania, Maryland, NJ
17. Boise Hours Boise, Idaho
18. Brattleboro Hours Chesterfield, New Hampshire
19. Bristol Bucks Bristol, Vermont
20. Brookings Bucks Brookings, South Dakota
21. Brooklyn Greenbacks Brooklyn, New York
22. Buffalo Hours Buffalo, New York
23. Buffalo Mountain Hours Hardwick, Vermont
24. Bull City Bucks Durham, North Carolina
25. Burlington Bread Burlington, Vermont
26. Butte Bucks Crested Butte, Colorado
27. Cape Anne Dollars Gloucester, Massachusetts
28. Capitol Area Self-Sustaining Hours Albany, NY
29. Carbondale Spuds Carbondale, Colorado
30. Chenango Hours New Berlin, New York
31. Columbia County Hours Philmont, New York
32. Community Cash Durango, Colorado
33. Cuyahoga Hours Cleveland, Ohio
34. Detroit Cheers Detroit, Michigan
35. Disney Dollar Disneyland and Disneyworld
36. Flagstaff Neighborly Notes Flagstaff, Arizona
37. Floyd Hours Floyd, Virginia
38. Fourth Corner Exchange Pacific Northwest
39. Green Mountain Hours Montpelier, Vermont
40. Greyhound Bucks Taft, Texas
41. Hero dollar Minneapolis, Minnesota
42. High Desert Dollars Prescott, Arizona
43. Hobo Dough South Dakota State University,
Brookings, South Dakota
44. Hollandollars Holland, Michigan (apparently
being discontinued but honored by local
chamber of commerce
45. Houston Hours Houston, Texas
46. Humboldt Hours Eureka, California
47. Humboldt exchange community currency Arcata,CA
48. Ithaca Hours Ithaca, New York
49. Kansas City Barter Bucks Kansas City, Missouri
50. Kauai Barter and Trade Network Kilauea,HW
51. Kettle River Hours Kettle Falls, Washington
52. Kitsap Hours Bremerton, Washington
53. Lehigh Valley Barter Hours Bethlehem,
54. Liberty Dollars Evansville, IN
55. Lopez Island Hours Lopez Island, Washington
56. Madison Hours Madison, Wisconsin
57. Marbles Columbia, Missouri
58. Mendocino SEED Fort Bragg, California
59. Middletown Cash Middletown, CT, Wesleyan
60. Milwaukee Hours Milwaukee, Wisconsin
61. Missoula Hours Missoula, Montana
62. Mo' Money New Orleans, Louisiana
63. Mountain Money  Mars Hill, North Carolina
64. NOCO Hours Fort Collins, Greeley, and
65. North Fork Helping Hands Paonia, Colorado
66. Ormita Commerce Network Barter System
67. PDXhours Portland, Oregon
68. P.E.N. Neighborhood Exchange Takoma Park, MD
69. PHX BUX Phoenix, Arizona
70. PLENTY Pittsboro, North Carolina
71. Portage Hours Kent, Ohio
72. REAL Dollars Lawrence, Kansas
73. Riverbend Tokens Chattanoga, Tennessee
74. RiverHOURS Columbia River Gorge, USA
75. San Luis Obispo Hours San Luis Obispo, CA
76. Sand Dollars Bolinas, California
77. Santa Barbara Hours Santa Barbara, California
78. Santa Fe Hours Santa Fe, New Mexico
79. Santa Monica Hours Santa Monica, California
80. Sequoia Hours Garberville, California
81. Simply Hours Columbus, Ohio
82. Skagit Dollars Mount Vernon, Washington
83. Sonoma County Community Cash Santa Rosa, CA
84. Stoneridge Hours Kerhonkson, New York
85. Summit Hours Akron, Ohio
86. Thread City Bread Willimantic, Connecticut
87. Time Bucks Seattle, Washington
88. TradeMarket Nevada City, California
89. Tulsa Hours Tulsa, Oklahoma
90. Ukiah Hours Ukiah, California
91. Valley Dollars Greenfield, Massachusetts
92. Waldo Hours Unity, Maine
93. Wash Bucks Sioux City, Iowa
94. Wooster Hours Apple Creek, Ohio
Friday, September 28, 2012
No money? Then make your own
Wandering Monks New "Jubilee" Album coming soon
NOTE: This article is originally published at the Wandering Monks' website: http://wanderingmonksmusic.com
Tuesday, September 25, 2012
UsuryFree Finance is the 'Mother Theresa' of 21st Century Economics
After one municipality launches and evaluates a beta project as a proven method of creating prosperity and abundance for all who participate, provincial and national governments can implement similar projects.
Eventually, a 'usuryfree' time currency can be implemented at the global level and there will be 'peace and plenty' by 2020.
I forwarded this proposal to the Municipality of Ottawa-Carleton in eastern Ontario on November 30, 2000.
“A Proposal To Limit Tax Increases While Improving Current Levels Of Municipal Government Services”
Tom Greco Update
Monday, September 24, 2012
The Eighth Annual UsuryFree Day & Week - Start Making Plans Now