There are good reasons to want to improve the health and diversity of your local economy. But should locality-based currencies scale, or perhaps replicate - networking micro to build macro (HT @cjenscook)? And is localism enough or is there a role for limited-scope value-based Intentional Currencies? @GrahamJBarnes anticipates some architectural aspects of a new monetary ecosystem.
Graham Barnes writes that "creating and maintaining a currency without any interaction with fiat is clearly a challenge. It's like asking fish to reinvent water while they are swimming around in it. But if we consider the main forms of interaction with fiat, some clues as to the management of the difficulties may emerge."
Mike Sandler's new blog post discusses the role played by debt-based money in the Greek financial crisis, and the reasons why a return to a gold standard wouldn't work, and goes on to propose some solutions. Mike will be representing Feasta, along with some colleagues, at the COP-21 summit in Paris later this year.
Brian Davey writes "Whatever the arguments the Greek government have run out of time. There is a point where they must act to create substitute financial instruments - if they are called IOUs it is up to the ECB to prove that they are another currency and against the rules."
If a Basic Income is indeed a Good Thing, then new currencies will increasingly seek to build it into their design from the outset. This article by Graham Barnes looks at the rationale for BI and at implications for currencies that incorporate BI as one of their currency issuance mechanisms.
How should the Greek government approach its mandate to end austerity? What pitfalls need to be avoided? Brian Davey has some suggestions.