Comment on Liquidity Networks: local trading systems using a debt-free electronic currency by Bruno Ricardo

1. The first receivers have an oportunity cost: it is called liquidity in euros.
The last receivers have the most advantage. They don´t wait 30 to 90 days to receive the money from the buyers anymore. They don´t need to spend 10% in short term interest, provided by banks, the credit inside the net is availabale at ZERO cost.
2. NO, the administrator doesn´t create any money because it has no product to sell (maybe some administrative services and a e-commerce website fees, nothing more). It is the transaction that generates it´s own money. this is called trade credit as oposed to finance credit.
2. The complementary currency is 100% insured. It is not possible to use deleverage or leverage factors. Money supply is equivalent to money demand inside the system.
4. Of course not this kind of money is not intended for investment is intended for working capital needs. So it is the oposite. More euros are released from Working capital to long term investments. Also this lowers the desirable return risk because more money (euros) is available and less is circulating in the credit circuit. Also projects that were considered not profitable now turn to have an acceptable rate of return

5. MOney is a way of storing value only in the last century. IN past history, other objects or land were used as a mean to value storage. And you can still have euros. We are talking about complementarity not substitution,

7. Again: people to earn internal currency most buy it in euros. In other systems, not quid, they can ask for a credit and they offer their own garantees: promise of services and goods for their communities. At any time the member should be entitled to ask for a refund in euros with a little percentage cost of exiting.

I hope it helps

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