and how it works, what the purpose and benefits of it and the best ways to use it.
LETS is a way of trading goods and services with other people, without money.
This suits me because I have problems with money:
|Problems with Money||>||Lets on the other hand|
|1) I don’t have much money.||>||I have as many LETS units as I and other people choose to create.|
|2) I’m on a pension the government only gives me a little money and won’t let me get any more before they start taking it off me again.||>||If I trade with someone we create exactly the units that we need. If I am not running a money business and I keep my credits and debits about even, the government doesn’t know and doesn’t care.|
|3) If my money account is in deficit I have to pay 20% interest to someone.||>||No usury, with LETS.|
When my account is in deficit, as it is at the moment, no one demands interest.
|4) There is a finite amount of money, so if I get money I have to take someone else’s money, this seems to make it all a bit cutthroat.||>||We create a debit and a credit when we trade as often as we need to, it’s win/win.|
|5) If I haven’t got any money, I can’t buy anything even if there many people offering me things to buy.||>||There are always things or services to trade.|
This sometimes happens.
Say no one can get a job for some reason: so no one has any money. LETS and similar systems mean that people can continue to trade with each other.
|6) Fees and taxes and profits!|
The government, the corporations and the banks all want some of my money every time I buy or sell anything.
|>||No fees, taxes or profits.|
Some exchanges charge fees and taxes but LETS doesn’t and it’s not an essential part of the system.
|7) If the global financial system falls over, I won’t have access to any money and if I don’t have any money I can’t buy what I need and I will be in serious trouble||>||If all the computers fall over we can run LETS in a notebook – it’s been done before.|
We can trade vegetables. flowers and work. This kind of thing helped keep Greece running during their catastrophic financial collapse.
|8) Scammers are always trying to steal my money.||>||You can’t really steal my LETS balance.|
|9) I have to “earn” money often by doing things I don’t want to. I think it’s a slightly disguised form of slavery||>||My credit and debit balance changes as I trade. I am self-owned and self-employed.|
|10) Money is mostly owned by a very small gang of people who call themselves “Capitalists” and they rent money to the rest of us.|
Capitalism creates enormous waste and I think it’s destroying the world.
|>||LETS is owned by us. I don’t know exactly who owns the CES but they aren’t Capitalists and there is an emphasis on recycling reusing and saving the world.|
|11) You need money to buy things in Supermarkets|
Supermarkets sell us things that are often very harmful and wasteful at an enormous profit.
|>||If we have an alternative to Supermarket we can help change the world to more robust and healthier systems of trade.|
|There is NO grace, charm or community in money. Buying things with money is as dehumanised as it possibly can be. |
We don’t even have people at the supermarket checkout now.
Money is so tied up in scarcity and competition and grasping
|>||The best part of a LETS trade is the connection. I see people sometimes just gift each other|
There is time, we can have a credit and a debit for years sometimes and it doesn’t grow moths.
In our system, I can have up to 2000 interest-free units debited and no one is harmed
It’s scalable, if I trade 100 things – good!
if I trade 2 things – equally good!
No one has to die over it.
If I need a hand with something small. Like; I can’t get up the ladder to change a light bulb,
I don’t need to pay an $88 call-out fee and $150 an hour to get it done.