Greek Town Develops Bartering System Without Euro

04/12/2012
As Greece wonders whether its debt crisis will eventually spell its exit from the euro, one town in the centre of the country, Volos, has formed an alternative local currency.
It works through a bartering system or exchange of goods.
LeakSource.word...

[@etniks69]

According to the excellent book DEBT; THE FIRST 5000 YEARS by David Graeber, an anthropologist, what Volos Town is doing is the very same it has been done in many places in the world since trade started. In fact this system is way better than regular coins and bills because it consolidates union in towns and the wealth can not be siphoned off by bankers to be used to speculate. Better yet, it is created INTEREST FREE and it enables trade. IT IS NOT BARTER as they call it IT IS A CREDIT SYSTEM

[@CentreforEnterpris]

Thanks your 100% right and beautifully explained

[@ZombieTex1]

Their currency is tied to the value of what they are trading ... that's why it works, just like gold and silver work because their value is intrinsic. Diamonds aren't worthless. They're rare, and scarcity drives up price. This is a fundamental principle of economics. Additionally, they're useful not only as a durable good, but in industry as well. Diamonds have a lot of intrinsic value, which is why they are expensive, and this doesn't have anything to do with private ownership.

[@chubbyninja842]

@Christopher Jacobs Diamonds in circulation are rare and that's what matters ... what is available to the market. If you consider all the gold in the universe, it's not rare either ... but we don't have access to all of it in our market.

[@sxp2high]

Wow, that's actually a small step towards a Resource Based Economy (look it up)!

[@HighKingoftheElves]

Proves that Hayek was right. you can have alternative currencies in the same countries

[@ricksalt6860]

ha ha , if you did that in Canada , the Gov. would shut it down . Love it . Way to go Greeks . Vancouver Island next .

[@simon134]

This video makes me happy and gives me hope :-) The dynamic human spirit that refuses to submit will NEVER be defeated!!!

[@The_Gallowglass]

Get rid of the central banks.

[@Sciencenaturelove]

I miss living in Greece, beautiful country and people. I'm glad they are taking control of their lives/family/country.

[@nickob55]

what this demonstrates is the central banks days are numbered because cryptos can be used to barter , a coin that is actively promoting barter is Flash which can be used just like TEM , I plan to get a network going in Greeces neighbour Bulgaria focused on surplus and seldom used items

[@travelindavetv]

I love Greece. I have barter all over the world . This is good news for the entire world will be doing this.

[@EmilyGloeggler7984]

This is bad news. God is who we should rely on.

[@charliebrownau]

You should of self hosted it on a VPS using opensource

[@ZombieTex1]

When the currency is gold and silver, and you have those coins, you do own them, and you own their real value. For example, back in the 1950's gas cost about a dime. At that time a dime was made of real silver. Today dimes are made of junk metal, and are nearly worthless (coincidence?). However ... if you were to go to a seller of coins, you could buy or sell a 1950 silver dime today for around $3.50 - $4.00 ... which is the current cost of gas! The silver has the same value! It's intrinsic!

[@Namaste1001]

About the only news on the BBC ever.

[@truthhurts6048]

you give sacks of potatoes as a payment to the doctor...😆

[@blackpowderkun]

With modern communication and contract why not, the doctor can receive it after the treatment.

[@Hamadoman]

I think it is the best way to face this crisis. Greeks have Not benefited from Sarkozy bailouts ,so you should use the real value of your currency instead of depending on failed system of EU which has been existed to facilitate the trade of few greedy corporations at the expense of Europeans and Americans interests.

[@etniks69]

"The bankers own the earth. Take it away from them, but leave them the power to create money, and with a flick of the pen they will create enough money to buy it back again However, take away from them the power to create money, and all the great fortunes like mine will disappear, for this would be a happier and better world to live in But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money." Sir Josiah Stamp Bank of England

[@ZombieTex1]

Greece shows us the ultimate downfall of all fiat currency ... that it's WORTHLESS. Barter works because you are trading things which both have real value. The way Gold and Silver work as money without fail is because Gold and Silver already have real value. You don't have to take the word of a bureaucrat that it's valuable ... it's actually valuable, which is why you can trade it for other objects of real value.

[@TheEnneagram]

The best news on the BBC ... EVER !!!

[@ZombieTex1]

It's difficult to manipulate a currency when the value is based on the value of an actual commodity rather than arbitrarily set by a bureaucrat. If you could manage to manipulate it, it would only be by negligible degrees. The benefit of having a currency is that it's easier to save up as many commodities are perishable. For example, say I wanted to save $20,000 for a house. Well, It would be hard to keep 20,000 chickens alive for a down payment, and the seller might not want 20,000 chickens.

[@EmilyGloeggler7984]

So many problems with both currency/money and bartering. Ask these people how they learn skills to barter - it’s not for free.

[@Thee-_-Outlier]

This is not bartering. If currency aka an abstraction is involved than it is simply an alternate currency market. Sorry, i wish this was true bartering, but it isn't

[@themanumission]

Ask him where did he get this quote from, and if he can prove Jefferson actually said it.

[@rafi6700]

we have to hit bottom in order to see the shit we are in, and once we see it, only then we will rebuild something new

[@nevereverlistens]

Some-body was thinking! But now that there is even less tax base, how will the system survive?

[@etniks69]

I believe the top at BBC knows this you are stating, and I think you are right regarding the full intention in "spinning" the issue. But I still think the guys who actually did the report don't have a clue. Just go to ANY bank and ask them what they think of Fractional Reserve Banking, and they will offer a blank stare. Loan officers are creating billions of dollars each day and they are not even aware of it. They actually think they are lending out their clients deposits.

[@stutek]

The Swiss have WIR as an alternative currency since 1934. So nothing new here.

[@etniks69]

What's wrong with KZbin not offering the REPLY buttons under each comment ? How can we interact with each other if we are not able to reply to comments?

[@etniks69]

www.mindetox.com/saving_the_world_from_the_banking_cartel.html

[@TycoNewRC]

No, I meant what does it stand for? You keep spelling it in all-caps like it's an acronym.

[@blueorangelettuce]

Hmm, looks like a step towards a cashless society. As long as the banks stay out, then it can be a good thing.

[@ByTruthImFree]

You are absolutely right.

[@19blitzer]

END THE FED

[@Dennis834]

1:05 HAHA BEAT THE SYSTEM!!

[@Crashbanksbuysilver]

Anything to to fuck the banking system the better.

[@fordgt402]

Grow hemps greeks,very useful plants.

[@artkozak]

An interesting way to avoid taxes.

[@aaronwildeofficial]

No interest and NO TAX

[@Doulamum2]

Canada already has a few alternative dollar systems working, but not on as big a scale as this town. Bartering is alive and well, especially in the agricultural sector.

[@EmilyGloeggler7984]

Guess again

[@ghostdog7575]

4 people have no tem

[@etniks69]

No Tax Base? all the government has to do is accept TEMS as money to pay for the taxes and it will discover its coffers will fill up because of the economic expansion. In fact if the government did that, it would give its stamp of approval and will encourage all businesses and people to use the new currency. In VOLOS the very Mayor of the town introduced the new currency. It can be promoted by dividing payments of say, 65% euros and 35% TEMS money in transactions, expanding jobs, consumption

[@tiukiu4598]

exit = greece vote

[@Leon.Stanic]

Well that was antisemitic.

[@zookatone]

Bla, bla.... Anyway, wheres my money, dude?

[@gerryboy3699]

lol your still stuck in the left right paradigm, how quaint ;-)

[@georgekafantaris7807]

WHAT I OFFER FOR GOOD TIME WITH WOMAN...SHE GIVE ME GOOD TIME,,,,ANDI GIVE HER GOOD TIME ITS GOOD SYSTEM....