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08/14/2007

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.


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