15 Jul '12, 11pm

Interesting post on "Currency resilience and Transition" in response to the recent peak money day...

Perhaps the most fundamental objective of a local exchange currency (one focussed primarily on facilitating trade) is to increase liquidity. There are two aspects to this : increasing the amount of currency in circulation and increasing the frequency at which it is spent. Both of these possible objectives are challenging to Transition Currencies as they are currently deployed. The first is not possible while currency is sterling backed (issued by being bought with sterling and exchangeable back to sterling); the second is unprovable with anonymous paper transactions. The extent to which Transition Currencies can react to these two difficulties remains to be seen. Any move away from sterling may be problematic now it is enshrined in the currencies. A careful and well thought through transition may be possible, but the currencies may not yet have enough momentum to carry the...

Full article: http://www.feasta.org/2012/05/21/currency-resilience-and-...

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