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Social Bartering with Favabank...

Favabank Community Bartering Favabank is modernising the age old idea of barter, exchanging items and time as favours between members of your community. Connect with people in your neighbourhood via the exchange of favours.

Bartering Favours Next time you need a helping hand or need to borrow something, why not try to source it from your local community?

Barter and Recycle Your Unwanted Stuff All barter exchanges are tracked using a virtual currency called a 'Fava', to create a 'gift economy' where the more you have given, the more likely that people will want to reciprocate. The Fava is the foundation for 'pay it forward' economics.

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Bartering Websites: Words of Support from Mervyn King

Posted by John Durrant on Friday 13th January 2012, 11:50AM

I've come across the following quote posted on several bartering websites which is attributed to Mervyn King, Governor of the Bank of England:

"There is no reason products and services could not be swapped directly by consumers and producers through a system of direct exchange – essentially a massive barter economy. All it requires is some commonly used unit of account and adequate computing power to make sure all transactions could be settled immediately. People would pay each other electronically, without the payment being routed through anything that we would currently recognize as a bank. Central banks in their present form would no longer exist – nor would money."

I can't locate the actual source of the quote so if anyone knows of it I'd be pleased to add it here.

Hey Mervyn, how about signing up to Favabank and help your vision to become a reality?

1 COMMENTS | [ Login or sign up to reply to this post ]

 

Reply by John Durrant on Saturday 4th February 2012, 11:52AM

Regarding the source of that Mervyn King quote:

According to Thomas Greco, who has researched and written extensively on alternative currencies, the quote is from the “annual policy conference (of world economic leaders) in Jackson Hole, Wyoming.” - I have searched for original sources but haven't come up with anything yet.

Thomas Greco's comment is on his blog at http://beyondmoney.net/2012/01/12/coming-soon-a-world-without-money-and-banks/

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