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This example of the ‘bonus miles’ clearly shows that it is very well possible to establish complementary currency systems next to national currencies. A number of other examples are known: In Japan, the “Hurei Kipp” (“home care-procurement-ticket”) was introduced in order to finance home care. Rendered care service is being credited and can be used at a later time for the own care, or be transferred to relatives in need of home care. The “Time Dollars” used in the US are of a similar system. “Time Dollars” are being accepted by a number of health insurance companies, are being circulated by a few hundred communities in the USA, are sponsored by 30 states for the practical solution of social problems and are officially recognised as a tax exempt currency. Also widely used are the so-called “Lets” (Local Exchange Trading System) – complementary currencies built on mutual credits which are being used in various forms in Canada, Great Britain, New Zealand, France, Thailand, Mexico...
The number of local community currency systems used worldwide is being estimated at 2,500. Further information about complementary currency systems can be found in the Internet e.g. at www.transaction.net/money or www.futuremoney.de. Despite the rapid propagation of local complementary currency systems, there is no transnational complementary currency system. Yet, for the protection of transnational citizen interests, the creation of such a transnational currency is indispensable. In the case of the transnational currency PAYOLA it made sense, to first peg it to a national currency (the Euro) to ease its introduction. At a later point there will be the possibility to replace the “Euro Standard” by the Gold Standard or a “Basket of Commodities Standard” as proposed by Bernard Lietaer. |