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6.10 Alternative money
I invite every politician, economist and businessperson to read the well presented, easy to understand book "The future of money"1. It lists proven alternatives and complementary money systems to the existing global paper based confidence trick everyone uses and falls for called "cash". Here are some of these alternatives:-
Commodity Money: A piece of paper fully backed by a commodity such as coal. A small monthly stamp fee pays for the storage of the coal.
Stamp Script Money: If you have thousands of unemployed people all willing to work in a local region but there is only a small amount of liquid capital, pay them in this way. For every month they don't spend their virtual money, a tax of 1% per month has to be paid. The incentive is therefore to spend spend spend the script money as quickly as possible with unemployed people, which will create much needed employment!
Lets (Local Exchange Trading System): Put very simply, in areas where there is not much "real" cash, itís a computerised electronic notice board which offers various goods and services for barter: often involving real cash and "Lets" computer money. It is worth noting some tribal states allow such transactions to be tax-free.
Time dollars, Ithaca hours, Pen exchange, The Curitiba, The Tlaloc and the Bia Kud Chum are other variations of the theme.
Anyway, I have decided that where legal, local communities experiencing high unemployment should instigate similar systems. I direct community leaders address this issue immediately.
I further direct that initially War Bond corporations fund day to day life in their Kibbutz villages with a hybrid complimentary currency system such as listed above. Why? Because American dollars, Eurodollars or any other tribal currency is not very useful if there's no one within several hundred kilometres who can (initially) afford to buy anything with traditional money.
I envisage a day, not that far away, when money is no longer used in the way it is today.
1 By Bernard Lietaer 2001
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