Complementary Currencies

Complementary currencies for Complementary currencies for sustainable developmentsustainable development- theories and practices –- theories and practices –

““Miguel” Yasuyuki HirotaMiguel” Yasuyuki Hirota

[email protected]@olccjp.net

http://mig76en.wordpress.com/http://mig76en.wordpress.com/http://www.olccjp.net/ http://www.olccjp.net/

June 2008June 2008

Today’s topicToday’s topic

Why is today’s socioeconomic system Why is today’s socioeconomic system unsustainable and unfair?unsustainable and unfair?

Required features for our monetary Required features for our monetary system to promote the sustainable and system to promote the sustainable and fair developmentfair development

Experiences in the worldExperiences in the world Conclusion / QuestionsConclusion / Questions

Why is today’s socioeconomic Why is today’s socioeconomic system unsustainable and system unsustainable and

unfair?unfair? Issued only by the central bank when asked by commercial banks:Issued only by the central bank when asked by commercial banks: no no

community, region or even country can self-regulate their means of community, region or even country can self-regulate their means of exchange > exchange > Mexico (1994) Asia (1997) Russia (1998) Argentina Mexico (1994) Asia (1997) Russia (1998) Argentina (2001)…(2001)…

Ex: Ex: The Bank of JapanThe Bank of Japan, free from any political intervention, , free from any political intervention, can can implement whatever policy they like without being questioned implement whatever policy they like without being questioned (R. (R. Werner, “The Princes of Yen”, 2003)Werner, “The Princes of Yen”, 2003)

Enriches only the rich at the cost of the poor:Enriches only the rich at the cost of the poor: unfair redistribution of unfair redistribution of wealth for most of the population by way of interest / impoverishment wealth for most of the population by way of interest / impoverishment of the middle-class once the national economy stops growingof the middle-class once the national economy stops growing

Difficulty for long-term sustainable projects (such as environment, Difficulty for long-term sustainable projects (such as environment, education) to be invested:education) to be invested: only short-term businesses prosper at the only short-term businesses prosper at the cost of human resources and our ecosystem (natural and social cost of human resources and our ecosystem (natural and social capital, so to say)capital, so to say)

US$ backed by oil as standard:US$ backed by oil as standard: favourable for US, economic collapse favourable for US, economic collapse when the oil runs outwhen the oil runs out

Even George Soros admitsEven George Soros admits

““International trade and global financial International trade and global financial markets are very good at generating markets are very good at generating wealth, wealth, but they cannot take care of other but they cannot take care of other social needssocial needs, such as the preservation of , such as the preservation of peace, alleviation of poverty, protection of peace, alleviation of poverty, protection of the environment, labor conditions, or the environment, labor conditions, or human rights – human rights – what are generally called what are generally called ‘public goods‘public goods’” (George Soros, “On ’” (George Soros, “On Globalization”, 2003)Globalization”, 2003)

Should national economies Should national economies grow forever?grow forever?

A: growth of all natural A: growth of all natural beingsbeings

C: growth of cancer and C: growth of cancer and what the current what the current monetary system monetary system demandsdemands

Our current economic Our current economic system is destined to eat system is destined to eat up all the natural up all the natural resources of this precious resources of this precious planetplanet

Source: Kennedy (cf. next Source: Kennedy (cf. next slide)slide)

Redistribution of wealth in Redistribution of wealth in favour of the richfavour of the rich

Most people’s income Most people’s income shrinks in today’s shrinks in today’s monetary system while a monetary system while a small number of rich gets small number of rich gets even wealthiereven wealthier

Source: “Inflation and Source: “Inflation and interest-free money” interest-free money” (Margrit Kennedy, (Margrit Kennedy, http://userpage.fu-http://userpage.fu-berlin.de/~roehrigw/kennberlin.de/~roehrigw/kennedy/english/edy/english/ 　　 ))

Today’s financial system in Today’s financial system in favour of short-time favour of short-time

investmentsinvestments

Source: Source: http://www.stefan-brunnhuber.de/http://www.stefan-brunnhuber.de/

What is money?What is money? Everybody know what we can with money, but Everybody know what we can with money, but

nobody knows what money is.nobody knows what money is. ””The agreement within a community to use The agreement within a community to use

something as a means of exchange”something as a means of exchange” (Bernard (Bernard Lietaer, “The Future of Money”)Lietaer, “The Future of Money”)

Agreement = Agreement = RuleRule So we can change our money system and/or So we can change our money system and/or

have parallel systems if we aren’t happy with have parallel systems if we aren’t happy with the conventional onethe conventional one

Required features for Required features for sustainable and fair Yin sustainable and fair Yin

currenciescurrencies Sustainable development is development that meets Sustainable development is development that meets

the needs of the present without compromising the the needs of the present without compromising the ability of future generations to meet their own needs. ability of future generations to meet their own needs. (Brundlandt Report, UN, 1986)(Brundlandt Report, UN, 1986)

Promotion of natural energyPromotion of natural energy (solar, windmills, (solar, windmills, geothermal, biomass…) and other eco-friendly and/or geothermal, biomass…) and other eco-friendly and/or social projects (reforestation, irrigation, education, social projects (reforestation, irrigation, education, healthcare…)healthcare…)

Democratically-managedDemocratically-managed by its users to prevent by its users to prevent financial meltdown by outer agents and to promote the financial meltdown by outer agents and to promote the fair distribution of wealthfair distribution of wealth

Stimulate the Stimulate the growth of “third sector” (social economy),growth of “third sector” (social economy), balancing Yin and Yang in our societybalancing Yin and Yang in our society

Yin and Yang coherencesYin and Yang coherencesConv. MoneyConv. Money CCSsCCSs

Competition

Having, Doing

Peak Experience

Logic, Linear

Technology dominates

Bigger is better, Expansion

Hierarchy works best

Central Authority

Transcendent God

CooperationCooperation

BeingBeing

Endurance-sustainability Endurance-sustainability

Paradoxical, Non-linearParadoxical, Non-linear

Interpersonal Skills DominateInterpersonal Skills Dominate

Small is BeautifulSmall is Beautiful

Egalitarian Works BestEgalitarian Works Best

Mutual Trust Mutual Trust

Immanent DivinityImmanent Divinity

Male principlesMale principles Female principlesFemale principles

Yang coherenceYang coherence Yin coherenceYin coherence

Source: “The Future of Money”(Bernard Lietaer, Source: “The Future of Money”(Bernard Lietaer, Century,2001)Century,2001)

Traditional experiences Traditional experiences in the world (– cir. 1995)in the world (– cir. 1995)

LETS (Canada, Europe, NZ etc.): LETS (Canada, Europe, NZ etc.): members trade in members trade in their own point system based on mutual trusttheir own point system based on mutual trust

Time Dollar / Time Bank (US, UK etc.): Time Dollar / Time Bank (US, UK etc.): members help members help each other by providing daily serviceseach other by providing daily services

Fureai Kippu (Japan): Fureai Kippu (Japan): a group of grass-root initiatives a group of grass-root initiatives to deposit hours of voluntary services to be withdrawn to deposit hours of voluntary services to be withdrawn when neededwhen needed

WIR Bank (Switzerland): WIR Bank (Switzerland): founded in 1934 to boost founded in 1934 to boost small corporations, realising more than 1 billion Swiss small corporations, realising more than 1 billion Swiss Francs of trades per annumFrancs of trades per annum

LETS (different LETS (different countries)countries)

Started in 1982 by Michael Linton at Commox Valley, Started in 1982 by Michael Linton at Commox Valley, British Columbia, Canada, then spread into other British Columbia, Canada, then spread into other countries (UK, Australia, NZ, contiental Europe etc)countries (UK, Australia, NZ, contiental Europe etc)

Called “SEL” (Called “SEL” (Systèmes d’échanges locaux) in France Systèmes d’échanges locaux) in France and and “Tauschringe” in Germany“Tauschringe” in Germany

Members Members exchange goods and/or services and pay in exchange goods and/or services and pay in LETS points (see next slides)LETS points (see next slides)

The The total sumtotal sum of all accounts is of all accounts is always zeroalways zero Appropriate for transactions between individuals at small Appropriate for transactions between individuals at small

communities (a few hundreds of people) or districts in communities (a few hundreds of people) or districts in urban areasurban areas

http://www.gmlets.u-net.com/design/home.htmlhttp://www.gmlets.u-net.com/design/home.html http://www.lets-linkup.com/ etc.http://www.lets-linkup.com/ etc.


On 08 January Andy gives Betty 5 kilos of potatoes and receives 10 On 08 January Andy gives Betty 5 kilos of potatoes and receives 10 pointspoints

Name Previous amount

Change Current amount

Andy 0 +10 +10

Betty 0 -10 -10

Charly 0 0 0

Total 0 0 0


Attention: the total sum of all accounts is always zeroAttention: the total sum of all accounts is always zero



Andy 0 +10 +10

Betty 0 -10 -10

Charly 0 0 0

Total 0 0 0


On 13 January Betty gives Charly her cakes and receives 15 pointsOn 13 January Betty gives Charly her cakes and receives 15 points



Andy +10 0 +10

Betty -10 +15 +5

Charly 0 -15 -15

Total 0 0 0


On 17 January Charly sells Andy his books and receives 25 pointsOn 17 January Charly sells Andy his books and receives 25 points



Andy +10 -25 -15

Betty +5 0 +5

Charly -15 +25 +10

Total 0 0 0

Examples of LETSExamples of LETS Hanbat LETS (Daejeon, South Korea): Hanbat LETS (Daejeon, South Korea): founded in 2000 founded in 2000

with more than 4,000 trades (more than US$100,000) with more than 4,000 trades (more than US$100,000) annually. annually. http://www.tjlets.or.kr/http://www.tjlets.or.kr/

CES (Cape Town, South Africa etc.): CES (Cape Town, South Africa etc.): an online clearing an online clearing system of LETS, operational in 10 countries. system of LETS, operational in 10 countries. http://www.ces.org.za/http://www.ces.org.za/

Time Dollar & Timebank Time Dollar & Timebank (US, UK etc.)(US, UK etc.)

Started in Washington D.C., US by a lawyer Edgar Started in Washington D.C., US by a lawyer Edgar Cahn as a means to promote social justiceCahn as a means to promote social justice

Members help each other and Members help each other and those who help others those who help others receive hours receive hours to be spent when they want some help to be spent when they want some help from others – Improvement of quality of life for a wide from others – Improvement of quality of life for a wide range of peoplerange of people

Cooperation with other businesses has enabled this Cooperation with other businesses has enabled this system to achieve different goalssystem to achieve different goals

United States: http://www.timebanks.org/United States: http://www.timebanks.org/ United Kingdom: http://www.timebank.org.uk/United Kingdom: http://www.timebank.org.uk/ Spain: http://www.red-bdt.org/Spain: http://www.red-bdt.org/ Chile: http://bancodeltiempo.blogspot.com/Chile: http://bancodeltiempo.blogspot.com/

Fureai Kippu (Japan)Fureai Kippu (Japan) Started in 1970s by housewives as a local network of Started in 1970s by housewives as a local network of

mutual helpmutual help Those who ask for help buy tickets (about US$6 per Those who ask for help buy tickets (about US$6 per

hour)hour) and volunteers stock these hours and spend and volunteers stock these hours and spend them when they need help (cooking, driving service them when they need help (cooking, driving service etc.)etc.)

Tickets are redeemable in yenTickets are redeemable in yen, although usually below , although usually below the minimum wage: help is more worthy than money for the minimum wage: help is more worthy than money for volunteersvolunteers

Quite active until 2000 when the Public Care System Quite active until 2000 when the Public Care System for the Elderly was introducedfor the Elderly was introduced

http://www.sawayakazaidan.or.jp/http://www.sawayakazaidan.or.jp/

WIRBank, SwitzerlandWIRBank, Switzerland A B2B CC system since 1934 in the A B2B CC system since 1934 in the

SwitzerlandSwitzerland SMEs make a loan in WIRSMEs make a loan in WIR instead of CHF, instead of CHF,

since the interest rate for loans in WIR is lower since the interest rate for loans in WIR is lower than those in CHFthan those in CHF

WIR is only accepted by Swiss SMEsWIR is only accepted by Swiss SMEs / / retaining the purchasing power within their own retaining the purchasing power within their own business circle (not out into multinationals or business circle (not out into multinationals or into neighbouring countries)into neighbouring countries)

WIRBank as a cooperativeWIRBank as a cooperative: member : member companies can control WIRBankcompanies can control WIRBank

http://www.wir.ch/http://www.wir.ch/

Recent initiativesRecent initiatives(since 1995-)(since 1995-)

Barter Clubs (Argentina): Barter Clubs (Argentina): once the biggest CC once the biggest CC movement in the worldmovement in the world

Banco Palmas (Brazil): Banco Palmas (Brazil): a community bank which gives a community bank which gives microcredits in their own complementary currencymicrocredits in their own complementary currency

REGIO (Germany): REGIO (Germany): some 30 initiatives in practice, some 30 initiatives in practice, dealing with a region (some counties, for instance) and dealing with a region (some counties, for instance) and stimulating the regional economystimulating the regional economy

SOL Project (France): SOL Project (France): to promote the social economyto promote the social economy Banca Etica(Italy):Banca Etica(Italy): a bank which gives loans exclusively a bank which gives loans exclusively

to social and eco-friendly projectsto social and eco-friendly projects Strohalm:Strohalm: a Dutch NGO which has been implementing a Dutch NGO which has been implementing

different initiatives especially in Europe and Latin different initiatives especially in Europe and Latin America.America. http://www.strohalm.org/ http://www.strohalm.org/

Only a tip of the iceberg:Only a tip of the iceberg: more interesting initiatives can more interesting initiatives can be found all over the worldbe found all over the world

Barter Clubs, ArgentinaBarter Clubs, Argentina The The biggest complementary currency system biggest complementary currency system ever had ever had

in the worldin the world A barter club in the suburb of Buenos Aires in May A barter club in the suburb of Buenos Aires in May

1995 with 23 members 1995 with 23 members grew into a huge national grew into a huge national network of thousands of clubsnetwork of thousands of clubs with 6 million people (1 with 6 million people (1 out of 6 Argentineans at that period) made ends meet out of 6 Argentineans at that period) made ends meet during the national crisis in 2001-2002during the national crisis in 2001-2002

The The mismanagement of the credit (their complementary mismanagement of the credit (their complementary currency)currency), however, led to a severe , however, led to a severe inflation inflation and most and most people left it, although some 40,000 to 50,000 still go people left it, although some 40,000 to 50,000 still go on exchangingon exchanging

Some initiatives to revive this movementSome initiatives to revive this movement

Banco Palmas, BrazilBanco Palmas, Brazil A A community bank community bank in Fortaleza, Ceará, Brazil since in Fortaleza, Ceará, Brazil since

1998 which gives microcredits in its complementary 1998 which gives microcredits in its complementary currencycurrency

Interest rates on microcredits are much lower than the Interest rates on microcredits are much lower than the one in real (Brazil’s currency), one in real (Brazil’s currency), enabling people with enabling people with limited income to start up their own businesslimited income to start up their own business

1200 jobs have been created thanks to this system1200 jobs have been created thanks to this system http://www.bancopalmas.org.br/ http://www.bancopalmas.org.br/

Chiemgauer, GermanyChiemgauer, Germany One of some 30One of some 30 REGIO (regional currencies) projects REGIO (regional currencies) projects

throughout Germany/Austriathroughout Germany/Austria €€-backed vouchers-backed vouchers that circulate within the region to that circulate within the region to

stimulate small businesses and the regional economystimulate small businesses and the regional economy Started by female high-school students with their Started by female high-school students with their

professor in Jan 2003, professor in Jan 2003, with now 1300 individual and 600 with now 1300 individual and 600 business membersbusiness members

More than C210,000 (=€210,000) in circulation, More than C210,000 (=€210,000) in circulation, increasing local businesses’ turnoverincreasing local businesses’ turnover

Redeemable in euro but with 5% commission:Redeemable in euro but with 5% commission: 2% for the 2% for the administrative cost and administrative cost and 3% for non-profits3% for non-profits

ATM service is available tooATM service is available too http://www.chiemgauer.info/http://www.chiemgauer.info/

Chiemgauer, GermanyChiemgauer, Germany

2 Chiemgauer bill, with 2% of demurrage each 2 Chiemgauer bill, with 2% of demurrage each 3 months (to be referred to later)3 months (to be referred to later)


Chiemgauer Cash CardChiemgauer Cash Card


Chiemgauer’s circulation (further on next slide)Chiemgauer’s circulation (further on next slide)

Chiemgauer, GermanyChiemgauer, Germany How will it circulate?How will it circulate? 1: 1: Chiemgauer office sells Chiemgauer office sells C100 at 97 euro to C100 at 97 euro to

other non-profitsother non-profits 2:2: Local non-profits sell C100 Local non-profits sell C100 at 100 euro to at 100 euro to

their members, earning 3 eurotheir members, earning 3 euro to be spent for to be spent for their own activitiestheir own activities

3:3: Consumers spend C100 instead of 100 euro Consumers spend C100 instead of 100 euro at local businesses, at local businesses, donating indirectly 3 euro donating indirectly 3 euro to the non-profit they supportto the non-profit they support

4:4: Local businesses spend Local businesses spend C100 to other local C100 to other local businesses or redeem 95 euro, businesses or redeem 95 euro, and the and the difference of 2 euro will be spent to cover the difference of 2 euro will be spent to cover the administrative cost of Chiemgauer officeadministrative cost of Chiemgauer office

DemurrageDemurrage Suggested by Suggested by Silvio Gesell Silvio Gesell

(1862-1930), a German (1862-1930), a German entrepreneur and economist who entrepreneur and economist who found out the unfairness of the found out the unfairness of the current monetary systemcurrent monetary system

US$100 note is much more US$100 note is much more preferred to equivalent apples as preferred to equivalent apples as money is free from degradationmoney is free from degradation

So So abolish the privilege of money abolish the privilege of money by making it gradually perishableby making it gradually perishable > demurrage> demurrage

Masterpiece: Masterpiece: “The Natural “The Natural Economic Order” Economic Order” (1916), with the (1916), with the whole text available online at: whole text available online at: http://www.systemfehler.de/en/nehttp://www.systemfehler.de/en/neo/index.htmo/index.htm

WWörgl, Austriaörgl, Austria Local currency (LC) issued by the mayor Local currency (LC) issued by the mayor

Michael Unterguggenberger in July 1932: Michael Unterguggenberger in July 1932: during the Great Depressionduring the Great Depression

Holders of LC charged of “demurrage fee”Holders of LC charged of “demurrage fee” LC’s LC’s quick circulation reactivated local tradesquick circulation reactivated local trades

and people even tried to pay their tax in and people even tried to pay their tax in advanceadvance

So successful economically, though, that the So successful economically, though, that the Austrian Central Bank, fearing to lose its grip Austrian Central Bank, fearing to lose its grip over its national currency, stopped it in Sep over its national currency, stopped it in Sep 19331933

Similar cases occurred in the past (up to Similar cases occurred in the past (up to 1950s) in Germany and France, being finished 1950s) in Germany and France, being finished by force by the central governmentsby force by the central governments

Wörgl, AustriaWörgl, Austria

Michael Unterguggenberger’s Monument next Michael Unterguggenberger’s Monument next to the City Hallto the City Hall

Wörgl, AustriaWörgl, Austria

Ms. Veronika Spielbichler (Unterguggenberger Ms. Veronika Spielbichler (Unterguggenberger Institute, Wörgl) with a copy of the LCInstitute, Wörgl) with a copy of the LC

SOL project (France)SOL project (France) SOL CoopSOL Coopérationération, , SOL engagementSOL engagement and and SOL affecté: SOL affecté:

to promote theto promote the social economy social economy SOL CoopérationSOL Coopération: similar to the loyalty programme but : similar to the loyalty programme but

with the aim to promote social or eco-friendly with the aim to promote social or eco-friendly enterprises (B2C an B2B)enterprises (B2C an B2B)

SOL EngagementSOL Engagement: promotes voluntary activities by : promotes voluntary activities by giving them some SOL pointsgiving them some SOL points

SOL points suffer from the “demurrage”, encouraging SOL points suffer from the “demurrage”, encouraging users to spend them instead of savingusers to spend them instead of saving

http://www.sol-reseau.org/http://www.sol-reseau.org/

Banca Etica, ItalyBanca Etica, Italy Founded in 1999 in Padua to finance non-Founded in 1999 in Padua to finance non-

profits and cooperatives which otherwise profits and cooperatives which otherwise wouldn’t get loanswouldn’t get loans

Savers choose one of four domains for their Savers choose one of four domains for their money to be invested: money to be invested: 1. social co-operation, 2. 1. social co-operation, 2. eco-friendly projects, 3. developing countries, eco-friendly projects, 3. developing countries, 4. cultural events4. cultural events

Savers can also Savers can also lower their interest ratelower their interest rate Finances some € 375 million to 2571 entitiesFinances some € 375 million to 2571 entities In close relationship with INAISE, FEBEA, In close relationship with INAISE, FEBEA,

SEFEA and other entitiesSEFEA and other entities http://www.bancaetica.com/http://www.bancaetica.com/

Banca Etica, ItalyBanca Etica, Italy Projects which have so far got BE’s loanProjects which have so far got BE’s loan Fair trade for a Honduran coffee cooperativeFair trade for a Honduran coffee cooperative Reconstruction of a historic district in Riace, Reconstruction of a historic district in Riace,

Southern ItalySouthern Italy Organic farm by a Benedictine monasteryOrganic farm by a Benedictine monastery Organic farming to lessen people’s Organic farming to lessen people’s

dependency on the underground economydependency on the underground economy Support for drug-addictedSupport for drug-addicted Health-care support system for prostitutesHealth-care support system for prostitutes Economic aid to AlbaniaEconomic aid to Albania

ConclusionConclusion Our very monetary system has several Our very monetary system has several

structural defaults and is unsustainablestructural defaults and is unsustainable It is Yang-orientedIt is Yang-oriented Complementary currencies: Complementary currencies: tool to promote Yin tool to promote Yin

principles to balance our societyprinciples to balance our society Different systems all over the world, each one Different systems all over the world, each one

in accordance with the community’s needsin accordance with the community’s needs

Questions 1/4Questions 1/4 1. What is/are your complementary currency’s goal(s) ?1. What is/are your complementary currency’s goal(s) ? 2. What sorts of demands remain unsatisfied in your 2. What sorts of demands remain unsatisfied in your

community / region / country?community / region / country? 3. What unused resources are available?3. What unused resources are available? 4. What kind of improvements can be expected by 4. What kind of improvements can be expected by

using complementary currencies?using complementary currencies? 5. Who will be the most interested in complementary 5. Who will be the most interested in complementary

currencies?currencies? More info: More info:

http://www.global-community.org/cgi/gc/scan/fi=news_shttp://www.global-community.org/cgi/gc/scan/fi=news_stories/st=db/sf=code/se=25/sp=stories.htmltories/st=db/sf=code/se=25/sp=stories.html

Questions 2/4Questions 2/4 Who will be the members of the start-up project Who will be the members of the start-up project

team ?team ?

Questions 3/4Questions 3/4 1. What means will you use?1. What means will you use?

（（ commoditiescommodities / bills, coins/ bills, coins / cheques/ cheques / / electronic currencyelectronic currency / some of them/ some of them ））

2. What is the unit of your currency?2. What is the unit of your currency?（（ legal tenderlegal tender / time/ time / other goods/ other goods ））

3. 3. How　will　the　complementary　currency　be　How　will　the　complementary　currency　be　issued?issued?(in　exchange　for　legal　tender(in　exchange　for　legal　tender　　/　backed　with　/　backed　with　foodfood　　/　giveaway　to　all　members/　giveaway　to　all　members　　/　backed　/　backed　wit　other　goodswit　other　goods　　/　mutual　trust)/　mutual　trust)

4.　How　will　the　administrative　cost　be　paid?4.　How　will　the　administrative　cost　be　paid?(Subsidy(Subsidy　　/　membership　fee/　membership　fee　　/　transaction　/　transaction　feefee　　/　/　interest　on　loan　/　demurrageinterest　on　loan　/　demurrage ））

Questions 4/4Questions 4/4

Draw a chart like thisDraw a chart like this

Further readingFurther reading ““The Future of Money” The Future of Money” (Bernard Lietaer, Century, 2000)(Bernard Lietaer, Century, 2000) ““Interest and Inflation-free Money” Interest and Inflation-free Money” (Margrit Kennedy) (Margrit Kennedy)

available at:available at: http://www.margritkennedy.de/ http://www.margritkennedy.de/ ““Money: Understanding and Creating Alternatives to Money: Understanding and Creating Alternatives to

Legal Tender” Legal Tender” (Thomas Greco, Chelsea Green (Thomas Greco, Chelsea Green Publishing Company, 2001)Publishing Company, 2001)

““The Ecology of Money” The Ecology of Money” (Richard Douthwaite, Green (Richard Douthwaite, Green Books, 2000)Books, 2000)

““No More Throw-Away People: The Co-Production No More Throw-Away People: The Co-Production Imperative” Imperative” (Edgar Cahn)(Edgar Cahn)

””Healthy Money, Healthy Planet” Healthy Money, Healthy Planet” (Deirdre Kent, Craig (Deirdre Kent, Craig Potton, NZ, 2006)Potton, NZ, 2006)

““The Princes of Yen”The Princes of Yen”(Richard Werner, M.E. Sharpe, (Richard Werner, M.E. Sharpe, 2003)2003)

Related websitesRelated websites http://www.margritkennedy.org/ http://www.margritkennedy.org/ http://www.accessfoundation.org/ http://www.accessfoundation.org/ http://www.reinventingmoney.com/ http://www.reinventingmoney.com/ (Prof. Thomas Greco’s official (Prof. Thomas Greco’s official

website)website) http://www.complementarycurrency.org/ http://www.complementarycurrency.org/ (more info about (more info about

initiatives all over the world)initiatives all over the world) http://www.le.org.nz/ http://www.le.org.nz/ (a NZ trust)(a NZ trust) http://www.monetary-regionalisation.com/http://www.monetary-regionalisation.com/ (a website for the (a website for the

conference which took place in Weimar, Germany in Sep 2006)conference which took place in Weimar, Germany in Sep 2006) http://www.global-community.org/http://www.global-community.org/ (where the Community Currency (where the Community Currency

Guide is available for free)Guide is available for free) http://www.regiogeld.de/http://www.regiogeld.de/ (a national association of Regio initiatives (a national association of Regio initiatives

in Germany)in Germany) http://www.strohalm.org/http://www.strohalm.org/ (a Dutch non-profit which works for the (a Dutch non-profit which works for the

implementation of complementary currencies)implementation of complementary currencies)

Thank you very much for your attention.Thank you very much for your attention.

My e-mail: [email protected] e-mail: [email protected]

My skype account: migjp2003My skype account: migjp2003

Website: http://www.olccjp.netWebsite: http://www.olccjp.net

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