by Angela Mulgrew The use of money is the use of money. Money purchases things—goods and services. Money gives us independence and strengthens our sense of self worth and esteem, at least while we have it in sufficient quantities.
Retail therapy (shopping) can be very stimulating and rewarding. Oh, the power of laying your money down and getting what you want in return without any hassles or future obligations.
As a member of a LETS group—a local exchange and trading system—I can obtain goods and services without the use of cash or credit card. The transaction, if between friends, is not done as a personal favour with a future obligation back to the same person. It becomes a recorded credit in an account which can be used for another transaction within the system.
Members spend and buy using points, a monetary word used for the agreed value of goods and service transactions between members, or any others in a similar LETS group. One system’s points are called Locals, while others may call their points Shells or Bunyas. The values are usually the same, for instance one Local equals one Shell or the equivalent of $1.
On a recent stopover in Lund, I was pleased to read Rob Higgin’s Viewpoint “Local currency is a simple concept,” August 17, and to then make contact with him. We discussed his ideas and concerns regarding local currency and progressive ideas about the challenging economics of 2011. As well, we talked about the increasing need for greater knowledge about what money is and isn’t.
Local exchange of goods and services is not just local when there are others who use systems in a broad geographic area, including nationally and internationally.
Through the LETS group I belong to in Queensland, Australia, and InterLETS trading with other systems, I have been able to provide needed items, such as equipment to keep or rent (for example, a skateboard, picture frames, art, baking and plants) and services to others such as project consultation, house and pet sitting, transportation, promotion and tarot card readings—all for no money. The value of these transactions over this year have been well over 1,000 Local points or, if it had been in cash, over $1,000 dollars.
We have an easy, effective and secure way of keeping track of transactions and accounts using the Community Exchange System.
In the space available I can only give a brief viewpoint on my support for LETS. However, if residents need convincing that the creation of a local currency is an untapped resource in your area, or that local energy exchange and trading is a current and growing movement in progressive cities and towns, then I suggest they contact Rob Higgin 604.487.1119.
Angela Mulgrew was visiting the area from Caboolture, Queensland, Australia.
