Tom, as you know Chris Cook goes into a number of the 'devilish details' involved in setting up one version of mutual credit clearing. Most of these details concern twin frameworks for holding assets (Cook recommends harbouring assets in a capital partnership) and a guarantee society that issues credit that is referenced to the units issued by a capital partnership.
Personally I'd like to see a bridge built between the loyalty currency models (like Berkshares) and the mutual credit clearing frameworks advocated by yourself and Chris Cook, even if it starts out as being as simple as a mutual credit clearing circle taking Berkshares in payment of transaction fees and placing a portion of these fees in a default pool. This would enable Berkshares to function much like a currency board. During the mean time the formation of capital partnerships would enable Berkshares to eventually form default pools for its MCCU/GS that include capital partnership units in their portfolio. The strategy is a Riegle-like play, as you can probably tell.
Regards
Alan Avans
http://www.whatworksproject.com
-----Original Message-----
From: Thomas Greco <thg at mindspring.com>
To: Michel Bauwens <michelsub2004 at gmail.com>
Cc: P2P Foundation mailing list <p2p-foundation at lists.ourproject.org>; Matthew Slater <matslats at gmail.com>; Tim Reeves <tim.reeves at rewig.info>
Sent: Fri, Apr 22, 2011 12:00 pm
Subject: Re: [P2P-F] Fwd: Regional Economic Communities
Both asset backing and mutual credit are viable approaches to creating alternative exchange media. I wrote about all this in my book, Money: Understanding and Creating Alternatives to legal Tender. The devil is in the details.
Tom
Thomas H. Greco, Jr.
thg at mindspring.com
Mobile phone: 520-820-05
Website: http://www.Reinventingmoney.com
Blogs: Beyond Money: http://beyondmoney.net
Tom's News and Views: http://tomazgreco.wordpress.com
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Skype/Twitter name: tomazgreco
My latest book, "The End of Money and the Future of Civilization"
can be ordered from Chelsea Green Publishing, Amazon.com, or your local bookshop.
On 04/18/2011 8:35 PM, Michel Bauwens wrote:
just in case thomas greco wants to comment on mutual credit vs asset backing,
Michel
On Tue, Apr 19, 2011 at 3:57 AM, Matthew Slater <matslats at gmail.com> wrote:
Hi Michel, Franz, & Georg,
Greetings Andreas Laurent & Tim,
Usually a barter currency is mutual credit, which means it isn't backed by assets.
A currency which is backed by assets is a commodity currency. You can only issue as much money as you have have assets.
Or some arbitrary multiple thereof!
So I would question the use of the expression 'barter currency' here.
Matthew
communityforge.net
On 18 April 2011 22:37, Dante-Gabryell Monson <dante.monson at gmail.com> wrote:
Yes, sounds like a nice set of initiates to me.
Yet, Small note regarding the barter currency they propose, "covered/guaranteed by the jointly-owned assets."
I remember discussing such approach in the past.
In my current understanding , such asset ( such as shares ? ) guaranteed currency is perhaps an approach taken to create an incentive to invest in the local economy ?
May be worth asking... I cc Tim Reeves.
Yet I feel that such approach to currency can be risky as it can lead to the monopolization of assets into the hands of a minority, hence having the whole regional economy owned by a small minority on the medium to long term ?
As far as I remember, although I have no references to provide ( would need to ask Bernard Lietaer ),
in Belgium at least, I heard that unless one has a special status such as a bank,
one can not operate a currency with euro equivalence exchangeable for euros, unless there is 100 percent euro backing in reserves, such as is the case with the german regio/freigeld currency called "chiemgauer" http://en.wikipedia.org/wiki/Chiemgauer
and/or the JAK bank in Sweden http://en.wikipedia.org/wiki/JAK_members_bank
If their barter currency is solely for their internal local economy, with no possibility for exchanging for euros ( purchasing outside of their local economy ), I do not understand why they would not have it in a fiat mutual credit form, such as WIR, with participants choosing the percentage of their monetary transaction they wish to be done in mutual credit ( such as WIR ) ?
http://en.wikipedia.org/wiki/WIR_Bank
http://wn.com/WIR_Bank
On Mon, Apr 18, 2011 at 9:14 PM, Michel Bauwens <michelsub2004 at gmail.com> wrote:
HI Franz,
any perspectives on this?
Michel
On Tue, Apr 19, 2011 at 1:59 AM, Dante-Gabryell Monson <dante.monson at gmail.com> wrote:
http://regional-economic-communities.info/
( found via open space list )
---------- Forwarded message ----------
From: Tim Reeves <tim.reeves at rewig.info>
Date: Sun, Apr 17, 2011 at 6:19 AM
Subject: Regional Economic Communities
To: Tim Reeves <tim.reeves at rewig.info>
Dear friends and acquaintances,
I just put together a one-time mailing list of the english speakers I know (and some german speakers with international connections). I'm writing to let you know about the concept of Regional Economic Communities, hoping that you may be able to help getting it known.
The concept presents a complete – and radically new – paradigm for regional communities, linking together commercial, sustainable and social aspects. It describes a means for normal citizens to become joint owners of local, sustainably-run businesses. It then introduces a barter currency, the Grok, which is independent of national currency and covered by the jointly-owned assets.
While thus apparently being a primarily economic paradigm, it's essence and motivation come from a spiritual perspective and in practice great value is put on the way we interact with each other, and to integrating personal growth and the furthering of interpersonal skills into the daily working life.
The external forms have been carefully designed to be practicable.
You can read all about it here: http://regional-economic-communities.info/
The first such community is currently starting up in Munich - the cooperative is founded and registered, and moving ahead swiftly towards getting the actual business side up and running. If you would like to help the concept take root in the english-speaking world, here are some things that would help:
Forward this email to anyone you know who might be interested - people active in regional currencies, ecological measures, transition town, and such.
Anyone who has the possibility, please set a link to the concept website on your website, so that other interested people may find it.
Talk to friends about it, subscribe for the newsletter (do so on the website) – and don't hesitate to contact me with questions.
Envision a better future for all, and practice wellwishing for all the many endeavours to achieve that aim which are now being explored.
The quality of the time in which we live demonstrates an exceptional development of consciousness. It grows with every individual who is willing to tread the paths of personal growth and systemic evolution. May it bestow us all with more cooperative and appreciative lives — paving the way to a future which we can truly look forward to.
With thanks and warm regards,
Tim Reeves
Flurstraße 10, D-85221 Dachau
Tel. 08131 - 273 653 Fax 08131 - 273 654
Email: tim.reeves at rewig.info
Skype: timothy.reeves (mit Webcam)
regionale-wirtschaftsgemeinschaft.info regional-economic-communities.info rewig-muenchen.de
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