Complementary currencies

Whatever governments do for the banks, credit will be a lot harder to obtain for businesses…we have now entered the period of an unprecedented convergence of the four planetary issues – financial instability, climate change, unemployment and the financial consequences of an aging society – that was described in the 2001 book, The Future of Money. To avoid a domino effect of massive layoffs and bankruptcies, the most urgent action for businesses to take is the initiative of creating a Business-to-Business (B2B) mutual credit system at whatever scale makes sense to them. The WIR system is a successful precedent of this strategy implemented in Switzerland since 1934. The degradation of the environment due to short-term financial priorities can similarly be addressed with pragmatic money innovations. Short-term thinking is shown not to be due to human nature, but to the prevailing money system. It is also possible to reverse this process, by using a currency designed specifically for multinational trade and contracts which would make long-term thinking a spontaneous process, focusing the attention on long-term sustainable solutions without the need for regulations or taxation.
Bernard Lietaer