Greco Pushing Forth With Establishment, Education Of Mutual Credit Clearing Systems

Today we see the financial markets in turbulence with sub-prime loans creating angst and unrest in U.S. real estate, Wall Street needing the Fed's assistance through multi-billions injected into the nation's banking system, and growing wonder about the trillion-dollar derivative markets.

All which brings back memories of Bernard Lietaer's address at the International Reciprocal Trade Association's 26th Convention in the fall of 2005 held at Disney World. Lietaer foresaw and provided a 5-year outlook for the worldwide currencies and his perspective of currency upheavals ahead.

At last year's IRTA convention Tom Greco stressed the importance of, and the opportunity for, the commercial barter industry to grab the ball and run with it�by creating a universal worldwide trading currency.

While the industry has yet to heed the advice by taking action, Greco is passionately moving forward to educate as many people in various areas of the world as possible. Here is a recent letter from him:

Greetings,

I'd like to share with you the progress we've made on our project here in Tamil Nadu.

Our excellent team has prepared a grant proposal in the expectation of

getting funds with which to begin stage one of the project. Please note that our proposal, which is contained in the attached document,

describes a comprehensive plan for development of the entire southeast India region, based on the organization of a non-cash payment alternative (mutual credit clearing).

We are requesting that the funder provide about USD13,000 for this stage. The overall project will take about two years to become self-sustaining.

This is an ambitious undertaking but it is essential that at least one such well-designed working model be established somewhere in the world so that it can be quickly emulated. (We expect the need for payment alternatives to intensify as the conventional money system continues to malfunction.)

Implementation of such a plan will require broad participation by

established businesses, NGOs, local government agencies, and eventually, the general public.

I'm posting the proposal to my BeyondMoney blog http://www.beyondmoney.wordpress.com, in the hope that:

1.      others might embark upon a similar course in their own area,

2.      you might suggest other possible sources of funding for this and later stages, and

3.      you might suggest appropriate candidates to help staff our project.

It would be especially helpful to have a project coordinator who has experience in the commercial �barter� industry, since skills in marketing, sales, and outreach to mainstream businesses will be key in building this trade exchange to reach significant scale.

White Reveals Value Of Intagio Acquisition

On August 1, 2007, ITEX announced it had acquired the trade exchange marketplace previously operated by Intagio Corporation. The final purchase price was $3,137,000, including certain accounts receivable.

In addition, the purchase agreement encompassed a revenue based earn-out payment up to $150,000, based on certain performance requirements. After assimilating the new members and identifying overlapping accounts, ITEX summarized the acquisition results:

• 2,800 new member accounts;

• Total business membership of more than 24,000;

• July cash revenue exclusively from the new Intagio members of $125,000;

• Additional monthly operational net income estimated to be approximately $50,000, excluding member list amortization;

• New overhead estimated to be $75,000 per month, including staffing costs, office leases, and general costs related to the acquired members.

�We are pleased to see the current metrics of this acquisition holding up very strongly,� declared ITEX Chairman and CEO Steven White. �The numbers stated above are reported net of estimated allowances for inactive accounts and estimated reserves for uncollectible accounts.

�There are several valuation methods we consider when determining acquisition price, including member cost, cash flow, opportunity costs, future revenue and net income. We place a high emphasis on operational income and cash flows from operations, which are both expected to be positively impacted by this transaction.�

White continued, �The purchase price for this acquisition was analyzed differently from the Business Exchange (BXI) purchase two years ago. The primary difference is that we do not share revenue with independently licensed offices. Furthermore, we have the option to retain or resell the new offices to existing or future franchisees, allowing us more opportunities to capitalize on the transaction.�

Nations Barter Infrastructure Development For Food

Iran is to help Nicaragua develop its infrastructure in return for farm products, according to a trade deal between the two countries. Under the agreement, Iran will help develop a port and build houses and industrial sites. In return, Nicaragua will export coffee, meat, and bananas to Iran.

The two countries, which have strained relations with the U.S., have improved ties since Daniel Ortega became Nicaragua�s President in January 2007. Iranian President Mahmoud Ahmadinejad visited Managua in January, and President Ortega returned the visit to Tehran in June.

Under the barter accords, Iran will fund a farm equipment assembly plant, four hydroelectric plants, five milk-processing plants, a health clinic, the building of 10,000 houses, and two piers in the western port of Corinto.

The U.S., however, has warned Nicaragua that closer ties with Iran could harm its relation with Washington.

Radio Content - Available On Barter - Expanding

Debut Broadcasting Corporation, a radio broadcasting and syndication company, announced that its radio syndication unit, Impact Radio Networks, has entered into two new content deals. They are part of an overall expansion of the company's syndication operations.

Included is an expansion of the existing agreement with Dr. Criswell Freeman to add five new daily radio features as well as syndication of Doug Kramer's daily radio program Kramer's Funhouse. Doug Kramer is a well-known Clear Channel radio personality, currently syndicated in 14 markets.

�Kramer's Funhouse represents our first effort in daypart programming, and is the first of several pending announcements in that arena,� said Steven Ludwig, CEO. �As radio stations come under more and more pressure to reduce programming costs, we see our unique strategy as the solution to a critical, developing need at the local level of radio station operations.�

He added, �The technology underlying our daypart syndication offers a means for radio stations to get syndicated personalities on a barter, cash, or hybrid cost basis, adding completely localized elements in real time�a real local radio program with the station�s own music, hot clocks, and stationality. Thus allowing for better ratings, more revenue, and less work at the radio station level. 

Debut Broadcasting Corporation's nine-year-old radio syndication company, Impact Radio networks, distributes programming and services to over 1,100 radio station affiliates in the United States and Canada, reaching over 40 million listeners nationwide each week.

For more information go to http://www.debutbroadcasting.com.

Universal Law-Of-Reciprocity Key To Trade Exchange Success

Every trade exchange owner in the world should not only be aware of the law-of-reciprocity, but using it, in the operation of their business.

Trade exchange owners are invited to e-mail bmeyer@barternews.com for more information on how you can become �the exchange of choice� in your area. When e-mailing Bob Meyer, put �Law of Reciprocity� in the subject line.

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