We grow up assuming that the notes and coins in our pockets are somehow ordained by the gods, that there is something inevitable about handing over a dollar bill to pay for a litre of milk or loaf of bread.

But this is not true. The current system of exchange is a rort that has been running for centuries, by which private banks and the elites skim off a percentage of every transaction and every hour of work made by the honest men and women of the world. And now as the slow crash of the global economic system continues, we see the elites for what they are, as they pay themselves tens of billions in bonuses while America, Japan and Europe sink further into recession.

But it doesn’t have to be this way. There is no decree we have to use their money for our transactions. The Sydney and Illawarra LETS scheme bypasses these vampires to let people exchange goods and services directly. Goods and services are traded all year long via the online trading system (a bit like Gumtree, but with our own currency instead of dollars). The sort of things that are regularly traded include meals, cakes, massage, haircuts, counselling, graphic and web design, natural therapies, tax help, yoga, fitness training, language lessons, etc…

Here’s how it works: when you join, you’re given what amounts to a bank account with a balance of zero. When you make a sale or purchase, the value is transferred between your account and the other person’s. The aim is to establish local communities where people can trade their skills between each other, keeping the value local and not sent via some multinational to a tax haven. In keeping with its local flavour, each local trading scheme names its currency after a regional icon. Here, we trade in Operas, and everyone can see your balance, which keeps everyone honest.

If you like the sound of this why not come along to our next Trading Day – this Sunday, 29 November from 3-5pm at The Factory Community Centre and see what your fellow currency pioneers are offering to trade?

Sydney and Illawarra LETS Trading Day
When: Sunday, 29 November 2009
Time: 3:00-5:00pm
Where: The Factory Community Centre, 67 Raglan Street Waterloo NSW 2017

Article written by http://www.auslets.org/sydney/
Photos by JacquesHayter