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The Greek Town that Already Opted Out of the Euro

Posted By on June 11, 2012

An interestingĀ  BBC feature about a flourishing Greek town. They have plenty of money because they have their own local currency – the TEMS.

If video fails to play go to free link: http://www.youtube.com/watch?v=9y9R0v96K48&feature=youtu.be

A Video About Greek Time Banks

A second BBC video about Greek time banks, where services are exchanged without money:

http://www.youtube.com/watch?feature=endscreen&NR=1&v=dz1KQkUJPkA

From the Wall Street Journal

Also check out a fascinating article (from the Wall Street Journal Market Watch, no less) about all the countries (including the US) that are setting up barter systems and local currencies in their determination to alleviate the human misery causes by the global economic crisis:

China, France, Ireland and other countries are seriously examining the feasibility of launching their own government sponsored barter systems. On December 8, 2011, The City of London released a report titled ‘Capacity Trade and Credit: Emerging Architectures for Commerce and Money’ with the goal of creating a barter hub of sorts for Europe in London. In the U.S. more than twelve states have legislation pending to create State currencies to serve as an alternative to the currency distributed by the Federal Reserve and commercial banking system.” Link to Full Article

Re-introducing the Drachma as a Complementary Currency

And James Skinner’sĀ  A dual-currency solution to the Greek debt crisis, with a a proposal to address Greece’s money shortage by keeping the euro and re-introducing the drachma as a complementary currency:

According to Skinner:

“Like water, money is the magic liquid that enables humans to create prosperity out of natural resources. Without water, fertile soil and the plants that grow in it can only dry up and die. Without money, humans sit idle and watch their economy wither and die. Equally, too much money or too much water will cause devastation instead of prosperity. Greece is suffering from a lack of money because the only source, the single currency, has dried up. But there is no law that states that there has to be only one currency.”


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