The Topic

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The topic of Stable Currencies is multi-facetted between monetary root problems, multi-levelled economic solutions and serious financial, social and environmental effects. Among the list of monetary problems are:

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debt-based currencies

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interest-bearing credit

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unregulated money supply

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self-regulated banks

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unregulated financial speculation

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uncontrolled fractional reserve banking

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weak governments.  

Our approach is rooted in the realization that

  1. today's political and economic problems  is the outcome of a historic evolution that began with the founding of Central Banks in Sweden and England
  2. there is no one formula but there are a number of solutions on a number of levels; these vary between Central Banks, Banks, Governments, Lords, MPs and Citizens
  3. the lack of awareness of the devastating mechanism of National Debts and their resulting interest payments is virtually 100%; even most people keen on 'debt cancellation' do not realise that the 'mechanism of dependency' lies in the issuing of currency as debt. Hence it is required that we all widen our horizons and deepen our understanding to include the larger picture.

A 'Stable Currency' issued and managed wisely would be 'green money' in our pockets, i.e.

bulletsustainable in terms of stability of value 
bulletfree of inflationary exponential growth
bulletfree from debt that demands interest
bulletfree from speculation that influences exchange rates
bulletfree from scarcity but available as needed. 

1. SOLUTIONS to Stabilise Monetary Exchanges for Trade and Employment 

bulletOn the level of countries
National Currencies free from Debt and Interest

This is the basis for discussion of Forum meetings at the House of Lords in London, England.

Stable Sterling

The idea of keeping Sterling in parallel to the Euro and to make it a debt- and interest-free model for the Commonwealth of Nations.         

bulletTobin Tax - the core issue of ATTAC

          The idea of taxing those billions of trillions of financial transactions that are speculative and fundamentally unproductive.

bulletOn the level of companies 
Commercial Barter

This is the principle of using conventional money to introduce interest-free 'trade pounds'. Even though these trade pounds have purchasing power only among members of the company, they are considered 1 : 1 with the national currency, for pricing and tax purposes. Companies pay a 'service charge' in cash of generally around 7% and 'account managers' look after a group of members to facilitate trading. 

LETíS BARTER

bulletOn the level of communities 
LETS or Local Exchange Trade Systems

On the grassroots level, this idea has captured the imagination of some 2500 groups world-wide. People print their own cheque books to keep track of their local currency. LETSLINK London co-ordinates some fifty groups.  

LETSLINK LONDON

Southwark Social Investment Forum is a group actively applying the principles of an alternative regeneration programme in a specific local authority area where LETS, Barter, Time currency  [here called Hourbank], Credit Unions and a fairly responsive local authority already exist. It meets at the Clink Debtor's Prison Museum every second Thursday 6-8 pm and is open to everybody who wants to talk about money! Contact: Canon Peter Challen
bulletOn the level of regions 
Exploring a 'Welsh Pound'

Wales comes under 'Objective One' in Brussels, i.e. it is considered poor enough to receive certain funding.  The Welsh Assembly has applied for this funding which has been granted but needs to be matched - by the UK Government for example. 

Have a look at the Early Day Motions Data Base of the UK Government and read EDM 314 submitted by Dafydd Wigley MP for Plaid Cymru, the Welsh Party.

My own selection of EDMs consists of all those that relate to financial and monetary matters. They would all be unnecessary, if the real cause of debt-based capitalism was addressed. 

Here is a discussion paper which I wrote for Jane Taylor, co-editor of Positive News and which was commented  by Prof. Bernard Lietaer, author of The Future of Money, published in German and Prof. Margrit Kennedy, author of Interest- and Inflation-Free Money, translated into 12 languages.  

bulletOn the level of cities 

The TorontoDollar - a 'community currency' valid in over 100 businesses 

bulletTime for Green Money: 

TimeDollars - to reward volunteering with interest- and inflation-free money 

2. PROBLEMS resulting from Debt-Based National Currencies and Self-Regulated Banks

        On top of chronic and increasing lack of money, financial problems are being created through 'extraordinary' banking practices. Fortunately, there are lots of self-help groups who offer practical solutions:

bulletThe UK Insolvency Helpline offers 'Debt Solutions' to 'Debt Problems: http://www.insolvencyhelpline.co.uk
bulletVictims of Banks: from 'bad lending', 'mis-selling' and 'over-charging' 

SAFE - Struggle Against Financial Exploitation

Specialising in Barclay's Bank
Telephone Keith Whincup on 0208 855 2006 or visit http://www.bank-ers.co.uk

Independent Banking Advisory Service

An excellent website based on the personal experience of Lloyd's Bank ruining their  business. Email Brenda Weatherill

National Association of Banks and Insurance Customers 

A great service in Cardiff and on the Net!
Email Stuart Cliffe 

bulletBankruptcies: the socially disgracing process of a 'financial stigma' - where 90 - 95% are innocent 

Bankruptcy Advisory Service

Another victim turned fighter
Telephone Gill Hankey on 01482 633 035

3. The Larger Picture

bulletGovernments continue to hand their power to create money over to non-elected banks that are accountable only to their shareholders

When Corporations Rule the World

The excellent book by David Korten and the 
People-Centred Development Forum
in Bainbridge Island, USA

bullet 'Asset Owners' and their employees strip planetary resources and exploit 'wage earners' 

FEASTA 

The excellent Foundation for the Economics of Sustainability in Ireland

Opposition to the 

bullet World Trade Organisation WTO
bulletNorth American Free Trade Agreement NAFTA
bulletMulti-lateral Agreement on Investment MAI

Between Opposition and Proposition

bulletMillennium Forum, May 22 - 26, 2000: United Nations Headquarters, New York
bulletMobilisation for Global Justice, April 16-17, 2000: 
Thousands in Washington
bulletWashington, Seattle, Melbourne, Prague and Genoa - signs of our times
bulletWorld Forum on the WTO Beirut, 6-9 Nov. 2001
bulletEconomic Justice - just a dream?
bulletMobilization for Global Justice - a coalition in Washington DC
bulletInternational Forum on Globalization - a network in San Francisco 

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This page was last updated on January 21, 2005.