Local Exchange Trading System (LETS!)

[SaraStar]

I offer here a solution to keep community thriving in time of economic scarcity for the masses.  LETS is community debt free currency that can be used to buy goods and services from each other.  The system itself is designed to encourage spending on each others' valuable contributions.  Think about how much doesn't get done because there isn't enough money.  This system is owned by the people who use it.  Right now it is a valuable supplement to national currency, however, I can see it becoming the foundation of a new debt free currency.  Fractional reserve banking is just as it sounds, fractured.  Communities around the globe have set up LETS with wild success.  Here are a few links.  

 

http://www.gmlets.u-net.com/

http://www.envirochangemakers......S.htm#find



 

I would like to get word out to Chicago and the greater metro area.  Help from community leaders is needed to get word out and get organized.  And I wouldn't mind help presenting this with someone as enthusiast as I am about this solution.

 

Kabachi, of Occupy the Hood, I can't find your number!!  Please contact me, this is an amazing system by and for the people, getting people on their feet, creating bonded community.

 

With Love and Respect,

 

Sara Star

[mcfuzz]

verrrrrry interesting.

[BackSeatEconomist]

Not to be overly negative, but does anyone remember why AIG collapsed? Hint: go look up "counterparty risk."  The idea that these currencies are not based on debt is completely false.  If someone owes you a bicycle tune up, then that's debt.  It's just a bartered debt rather than a monetized debt.

Also:

Think about how much doesn't get done because there isn't enough money.

Nothing ever doesn't get done because there is not enough money.  Money is just pieces of paper (and now mostly numbers in a computer).  There can never be not enough to do something*. Money is used as a convenient exchange medium -- a proxy for real things of value.  Things don't get done because of a lack of (or poor distribution of) real resources, not a lack of money. Blaming money really misses the point.

 

* There can be not enough (or too much) money to allow sufficient liquidity in capital markets, but that's a different story entirely.

[SaraStar]

@BackSeatEconomist:  I wish I could read what you wrote, seeing as what looks like 1/3 of the left side got cut off.  Can you message me that, because I'm sure you have a lot of valid points.  Basically the LETSystem is like a doorway to debt free currency like the greenbacks.  And by debt free currency I mean not fractional reserve banking.  So it's not money that is the problem, but the system that enslaves peoples and countries to eternal debt.

 

Basically, this is what I call a step in the right direction.

 

Peace,

 

Sara Star

[stephenwhite]

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