[CLUE-Talk] [OT] A Call to Action

[Jeffery Cann]

On Friday 12 July 2002 02:04 pm, Matt Gushee wrote:
>   * LETS or a local currency system
>
>     LETS stands for either Local Exchange Trading System or the word
> "let's," or something else, depending who you ask. It is a kind of virtual
> currency system, operated by and for people and businesses in a given
> community. In essence, LETS and other local currency systems increase
> people's buying power by increasing the local money supply. Beginning in
> the mid-70s, successful LETS systems and local currencies have been
> established in dozens of communities throughout the industrialized world.

What would an advantage be of such a system?  One reason (of many) currency 
systems work and the reason US dollars hold value is that they are easily 
exchanged.  A LETS would seem to run counter to the success of currency 
systems.

In addition, what does would a LETS have to do with improving the economy?

Just curious...
Jeff