Local Currency Update: Opting Out of the Bankster Money System

According to the Guardian, renewable energy provider Good Energy has agreed to accept the Bristol pound in payment for electricity and gas bills. The company claims to be the first in the world to accept payments in local currency. Bristol residents already use the Bristol pound to pay for groceries, bus fares and council tax (ie real estate taxes).

The Bristol Pound is an alternative currency launched in 2012 to help keep cash in the local community, as opposed to the deep pockets of multinational corporations.

Run as a not-for-profit partnership with Bristol Credit Union, the Bristol pound is the first city-wide local currency in the UK and the largest alternative to Britain’s national currency (pounds sterling). There are approximately 750,000 Bristol pounds in circulation.

Local or complementary currencies are an ideal way for communities to opt out of the corporate money system. Their use has expanded exponentially since the 2008 downturn, especially in European countries like Greece, Italy and Spain. Devastating austerity cuts have left millions in southern Europe with no access to euros, the official currency.

My town New Plymouth has their own local currency, the New Plymouth talent, though it’s not as widely circulated as the Bristol pound. We also have a Time Bank (which I’ve just joined), which allows members to earn time credits providing services for other members. They can use these credits (instead of money) to purchase services from other members. It’s a great alternative for unemployed, retired and disabled residents who are short on cash due to the economic downturn.

15 thoughts on “Local Currency Update: Opting Out of the Bankster Money System

  1. This is part of the movement toward self-governing and sustaining communities I keep hearing and reading bits and pieces about. I love it!

    If there is a perfect way to wage war on these elite creatures, this is the way to do it!

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  2. Reblogged this on An Outsider's Sojourn II and commented:
    Sick of being screwed continually by this elite system/order? Well there are alternative ways for we the people to live. And these alternative ways, if enough of us seek them out, will ultimately destroy those who have been destroying us and our ancestors for centuries.

    Read, learn and then seek and act!

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  3. Pingback: 99% PROOF: Opting Out of the Bankster Money System | RIELPOLITIK

  4. Carol, here in New Plymouth, both our time bank and our alternative currency were citizen-initiated. It never would have happened otherwise. Bristol is quite lucky that they have found a credit union to sponsor it, but in most cases time banks and alternative currencies are grassroots citizen initiatives.

    There’s a link on the US Time Bank site explaining exactly how to start one: http://timebanks.org/get-started/start/

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  5. So amazing a big company (and a very good company, too) is embracing local currency. The first of many I hope and the begging of a move away from the domination of the banks 🙂

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  6. Reblogged this on Ideas Of Mass Destruction and commented:
    This is great news! People are beginning to realise there is an alternative to the big banks, and it’s relatively easy to do. Local currency is spring up all over the place, we need to embrace it and take the power away from big banks. The fact that companies like Good Energy are making this move is a fan static step towards this.

    Like

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