LETS are Local
Schemes or "LETSystems",
also known as "community currency".
The key feature of a community currency is that it is created
by "mutual credit" independently of the banking
system, and runs parallel to national currency by giving value
to activities that might otherwise be done on a voluntary
basis, thus building a network of mutual support. The value
of the currency is usually considered to be equivalent to
the national currency, which facilitates the pricing of "goods"
and part-sterling, part local trading, although some groups
adopt a standard rate per hour for when members want to trade
on an equal basis. In the original paper-based schemes, cheques
were handed into a central administrator who kept score on
a database and balances were published periodically. Some
schemes also introduced printed notes, which were drawn out
as "cash' at trading events - alternatively stalls kept
lists of trades were transacted later. Some groups have online
systems, but usually have a central administrator who continues
to do transactions on behalf members who may prefer the paper-based
methods, so all options for trading are available. LETSlink
UKnetworks and supports local groups in the UK, as well as
being part of the international complementary currency movement.
OUR MAIN NATIONAL SITE
LOCAL EXCHANGE SITES
LETSLINK REGIONAL SITE
Above are links to sites concerned with Commnity
Currencies - below are links to associated projects - to be
updated and expanded in due course.
CHRISTIAN COUNCIL FOR MONETARY JUSTICE
THE NETWORK PROJECT
GLOBAL JUSTICE MOVEMENT
CAMPAIGN FOR INTEREST-FREE MONEY