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LETS, Local Exchange Trading Systems, local money, the Swiss WIR system, etc.

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liberation posted on Mon, Oct 15 2012 9:13 AM

Sorry, I couldn't find a topic about this with the search engine. A search for LETS brings you to let's a search for local exchange brings you to stock exchange, etc.

So what is the Austrian view or your view of local monies in the current economic climate? Are they valuable?

In Germany, 65 local currencies:

In Switzerland the nationwide WIR system is in place since almost 80 years:

About the Wörgl money:

I know there is already a big thread about Gesell but it's about Gesell (btw. what's the conclusion of that thread? It's TL;DR), not today's LETSes, WIR in the currect economic situation.

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No one here!?

This is the most interesting thread I opened!

Another short instructional video on the topic by Paul Grignon, creator of Money as Debt:
(The gold hoarding part may or may not make sense.)

I'm not asking about Grignon's ideas in this post, it's just a video. I'm asking about the real world local monies out there.
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I actually think that peer money is what a cartel tries to be. Instead of colluding to set prices, firms who have a common interest in exercising control over their market would use odd commodity money, like billets of stainless steel or tons of silica. And certain products would only be sold for an amount of valuable production inputs. Naturally this limitation on trade would be to their detriment in other ways, by preventing them from making what would otherwise be a profitable deal. But I think its likely to happen when people are concerned about things besides bookkeeping profit.
Keep the faith, Strannix. -Casey Ryback, Under Siege (Steven Seagal)
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Thanks for your insight Malachi, but I just don't understand what do you want to say. Anyone?
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