Event: Guild of Independent Currencies: June Meetup

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Date: 15th June 2015
Time: 9:30am to 5pm
Where: Exeter Quaker Meeting House. Wynards Lane EX2 4HU
Cost: £5 includes lunch and refreshments

The Guild of Independent Currencies has been created by the Bristol Pound (covered on sister site in 2013) to help others to launch their own independent currencies, supporting them through shared technology, best practice and with anything else they may need. Read more here: http://guildofindependentcurrencies.org/

bristol pound

(Covered on sister site in 2013) Bristol Pound director Chris Sunderland explains that “Most of the money spent in a city, leaves almost as soon as it’s spent. It goes up to the financial institutions and gets lost. What people can be sure of with Bristol Pounds is that they’re circulating in the city and that’s where they’ll stay.”

Around 650,000 Bristol Pounds are in circulation and more than 750 local businesses use the scheme. Inspired by Bristol Pound’s success, locations including Cardiff, Bath and Kingston are considering starting their own scheme. Local currencies also exist in Totnes, Stroud, Lewes and Brixton.

If you are interested in local currencies, thinking of setting one up in your local area or currently engaged in trying to make one work, then Exeter is the place to be at the moment. This September they will launch their own currency and preparations are in full swing, come and meet the team at our June Meet Up and find out how they are getting on.

Agenda (Draft)

We’re packing it in for a fun and informative day! All the information and help you need for your local scheme plus swap tips and stories about how you are making it happen.

9:30 Arrive, Coffee, Mingle
10:00 Welcome to conference from Exeter Pound, practical info
10:10 Keynote Chris Sunderland, Founder Director Bristol Pound CIC
10:30 Introductions and updates from currency schemes attending
11:00 Workshop: Community and trader engagement
11:30 Tea Break
12:00 Workshop: Institutional Engagement and Procurement
12:30 Workshop: Legal and Regulatory Issues, including Credit Union involvement
13:00 Lunch provided by Real Food Cooperative
14:00 Printed Currencies Presentation Brian Kenworthy, Orion Security Print
14:30 Workshop: Technical Developments
15:00 Open Space Discussions – topics to be decided throughout the day
16:30 Guild of Independent Currencies – Next steps
17:00 Close

Limited places available so don’t miss out by booking now!

Booking: http://www.eventbrite.co.uk/e/meetup-june-2015-tickets-16875566273

 

The Birmingham Pound: not just a piece of cake…

It’s been fantastic to see all the interest in the potential of a Birmingham Pound over the last few days. Just one tweet following a very first-stage meeting of a few potentially interested people, and the Birmingham Mail were covering the story. I don’t want to belittle my abilities to attract conventional media to the Localising Prosperity agenda, but we’re hardly used to being sought out like that! Thanks Tom Davis – your professional interest is much appreciated.

For those who don’t know: the current new rash of local currencies are worth a look. In our meeting we heard from Steve Clarke of the Bristol Pound. They are taking off in Bristol, Brixton and Totnes particularly – though lots of other places are following, like Birmingham. The local pounds are exchangeable with sterling: for every Bristol Pound in circulation there’s a sterling one in the credit union’s account. Local currencies can be used with locally-owned businesses. Businesses can trade with other local businesses. Bristol council accepts council tax and business rates in Bristol Pounds, and council employees can accept part of their wages in them. There are BPFRONT (2)locally-designed paper notes, which are great for spreading awareness of the scheme, but most transactions are electronic with a handy mobile-to-mobile payment system. This means for example that market traders are enabled to take electronic payments.

You can buy bathrooms, bike repair, plumbing, as well as all the expected local produce. Yes, it needs funds to run the scheme, but the returns look healthy if hard to measure: Bristol Council thinks it’s worth around £100,000 per year in tourism benefits alone. It also raises the profile of local money circulation as an idea: far more people are becoming aware that they can choose to spend their money in a way that supports livelihoods.

One thing I’m going to bang on about constantly as we progress these plans is that we must make this an inclusive local currency: Birmingham is good at ‘superdiversity’ and if this local currency happens we want it to be something everyone in the city feels is theirs to use, in whatever shopping culture they tend to find themselves. I live just off Ladypool Road and would love to see all those great indie grocers taking Birmingham Pounds, and paying their suppliers at the Birmingham Wholesale Markets with them… The credit union also plays a role: electronic transactions happen via accounts with the local credit union, which gives them new members, new capital and higher public profile.

Not that I think any of the new currencies are as ‘exclusive’ as some critics think they are. It’s not the disposable income brigade shopping in trendy independents that have brought about the massive global rise in inequality and environmental injustice, is it? – it’s the corporate shareholder model, sucking out the value from the real economy that gives us our livelihoods.

And to despise that ‘trendy independents’ aspect of local currencies as exclusive does miss how local money flows can work. Surely when some have more disposable income than others, we want that income to be going to the “livelihoods economy” not the parasitic economy? Spending money at Glynn Purnell’s restaurant sends it into the Bigreat_offers_Sainsrmingham Wholesale Markets, whose vital role in providing jobs and affordable fresh food is well documented: better  than some big chain providing a fraction of the local livelihood value. Trickle down is a myth – until you decentralise money flows.

No scale of economy automatically generates equality & inclusion, but tackling the concentration of wealth in so few hands has to be pretty crucial.

So we’re meeting again in a couple of weeks to start to make some plans – for fundraising, promotion, getting signup, organisational models, banknote design competitions, partners to involve. People involved so far are from a credit union, the new Impact Hub, the council, Birmingham Friends of the Earth, Kings Heath Transition, Equality West Midlands, academics and business organisations. There’s a good buzz about it. Watch this space.

Karen Leach

PS – some of us are interested in Black Country local currencies too – get in touch if that’s of interest.