There are many different approaches used to escape the money trap created by banks and banking. There are many variations used within each system.  Time Magazine,8599,1865467,00.html Sunday, Dec. 14, 2008 Alternative Currencies Grow in Popularity By Judith D. Schwartz mentions LETs, Ithaca Hours, Greens from the Lettuce Patch Bank at the Dancing Rabbit Ecovillage in rural northeastern Missouri. In western Massachusetts one finds fine-artist-designed BerkShares, which are convertible to U.S. dollars. More than $2 million in BerkShares have been issued through the 12 branches of five local banks, according to Susan Witt, executive director of the E.F. Schumacher Society, the nonprofit behind the currency. And in South Africa, proprietary software keeps track of Community Exchange System (CES) Talents; one ambitious plan is to make Khayelitsha, a vast, desolate township of perhaps 1 million inhabitants near Cape Town, a self-sustaining community and CES.

The CES website

The Benefits of Virtual Money

"As the 'currency' in the above types of exchange systems is information it does not have to be ‘created’ like conventional money so there is no need for an issuing authority or for a supply of it, and none is required to start trading. ‘Money’ in these systems is a retrospective ‘score-keeping’ that keeps a record of who did what for whom and who sold what to whom. There can never be a shortage of information as there can be of money, as information does not have to be created and limited by a third party (banks or government) in order to give it value. For this reason the concepts of borrowing, lending and interest are meaningless in the CES." (quote from the CES Website).

Links to ACS



Alternative Currency Systems