----- Original Message -----
From: "Peter North" <northp@SBU.AC.UK>
To: <ECON-LETS@JISCMAIL.AC.UK>
Sent: Friday, February 15, 2002 6:15 AM
Subject: Query: Community Currency/Barter Scheme (Bosnia)

Dear All,

I'm sure many of you will be able to help Kirk with some of his questions: Please  email: <kmlange@hawaii.edu>

Pete North

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

From: Kirk Martin Lange <kmlange@hawaii.edu>

Aloha.  I am trying to provide information to a colleague working in Bosnia on starting a municipal barter system.  A description of his information needs follows.  Any information you might have would be greatly appreciated.  Please direct replies to Robert Alexander at <bfootbob@hotmail.com>  Thank you.

Background:

We've got a few municipalities in which we're working in which there is virtually no formal employment but many skilled people who are quite underemployed.  Many entrepreneurial people with business ideas are unable to get loans.  Some of the people interested in sustainable job creation for returnees (formerly displaced people who are now trying to return) have become potentially interested in the idea of a local currency.

Big Questions:

What exactly would be required to start a barter currency system in a municipality? How long might it take to plan and operationalize such a system?

Initial Ideas about Project Elements:

1. Establishment of "barter bucks" (community currency; "nai novac") system.
2. Cooperative for managing local "microcredit" scheme using alternative currency (NOT using KM or other national currency; currency created by the people of this town only to be used in this town)

Conceptual Rationale:

Print local town currency used to facilitate multilateral barter & print newsletter telling people of available services or which local currency can be traded; also, for loan problem, community currency board (all interested members) votes regularly to decide who gets "loans" of community currency to buy services they need in community to get started [remembering that creating more currency causes inflation, so cost-benefit analysis of new business for community].

Note: When the Argentina provinces created their own currency for buying and selling in the mid-1990's, various mis-informed economisits predicted that these Argentina provinces would experience runaway inflation (already at 1000%) because of the decision to print this new 'usury-free' local currency. Instead, inflation dropped way down to 36% . Understand that creating new 'usury-free' local currency does NOT cause inflation. It is the 'usury' on the orthodox money systems that is (and has been) causing inflation. In short, John C. 'The Engineer' Turmel has proven that the design flaw of 'usury' is the function of the orthodox money machine which is really causing inflation. Take away the 'usury' and there is NO inflation. (Tommy-Usury: Free) More details at The Cyberclass Network: www.cyberclass.net

Initial Ideas for Project Requirements/Inputs:

Computer & printer; photocopier; funds for printing of regular newsletter (listing businesses accepting currency)/flyers; place to hold initial barter arrangement decisions (setting initial "prices") and subsequent member lending and decision-making meetings.

***************************************************************************************

[ed:  Ithaca Hours is the most famous experiment I know of.  You can find out more about it and other similar experiments at:
www.lightlink.com/hours/ithacahours/otherhours.html ]

------- End of forwarded message -------
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Recommendation:

For some general background information visit the LETS/Barter Cyberclassroom at this URL: www.cyberclass.net/bartable.htm

More specifically, there are some articles directly referring to how municipalities can implement 'usury-free' time currencies. Details at these URLs: www.cyberclass.net/abolishusury.htm & www.cyberclass.net/chiarelli.htm

Enjoy this day!!

Tommy-Usury: Free otherwise known as 'Tom-Jospeh: Kennedy'
www.cyberclass.net