Bill Black is a extraordinary speaker, imo, clear, direct, empirical, and intelligent. In that he holds a dual posting at the University of Missouri at Kansas City in both the Law School and in the Economics Department is not an accident. His pursuit of the dysfunctionals of the banking sector, both as a regulator and as a professor is part of the reform in MMT monetary reform and the regulation of the dys-functional as per Functional Finance. In this context I have yet to see anyone anywhere promoting the lesser forms of community currencies and exchanges, which I will not list here, in all the possible breathlessness applied in promoting these "community alternatives" I have yet to see even a single clause recognizing the massive potential for fraud within the nominal "alternative" category. There simply are no standards whatsoever relative to transparency or accountability. This is the Ronald Reagan/Margaret Thatcher version of opening access to fraud under the pretense of higher principles, TINA. It seems that this is an "alternative" version of a TINA assertion, presented as a recitation of various mantras as "community, " "Free!," ALTERNATIVE," and then multiple attempts to compartmentalize the perpetration of fraud. As I referenced way earlier The US had a period of monetary history which became known as the "Free Banking" era. By most measures it was a major fiscal disaster, levels of fraud had not been exceeded from that era up until the late 1980'a and the beginnning of the US Savings and Loan crisis which Black was a lead prosecutor Tadit . http://www.youtube.com/watch?feature=player_embedded&v=N_AuvLTJNh0