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  • The Liquidity Network - developing a complementary currency for Ireland
    affect a council accepting quid because a council is not the state itself and would not need to pass a law to enable it to handle quid I think problems would only arise if central government accepted quid in payment of income tax and VAT as this would require legislation Such legislation would give the quid the formal and mandatory backing of the domestic legal system in the State or area in which it circulates to quote Collins authority This would make the quid money Whereas anything which is treated as money purely in consequence of local custom or the consent of the parties does not represent or reflect an exercise of monetary sovereignty by the State concerned and thus cannot be considered as money in a legal sense would apply to the arrangements made with the local council So the issue is not the state accepting quid at par or any other value with the euro but accepting quid at all if legislation is required for it to do so The second question was whether quid were governed by Directive 2000 46 EC of the European Parliament and of the Council of 18 September 2000 on the taking up pursuit of and prudential supervision of the business of electronic money institutions such that the system must comply with the requirements set out therein After some analysis the answer was no in part because the unit was not money Obtaining this opinion is a relief because had the answer been otherwise the compliance costs would have been high Posted in Uncategorized Tagged with Anthony Collins electronic purse EU Directive legality No comments By Richard January 25 2010 Liquidity Network at Transition Towns Tralee Tralee Transition Towns held an evening on local currencies on 25th November and Phoebe Bright made a brief contribution on the Liquidity Network There were a steam of good questions from this large and active group We hope to return to Tralee soon Other presentations included an overview of money systems from Steve Allin hemp guru local Credit Union whose loans are down but whose savings rate has doubled in the last 6 months A happy customer of the Triodos bank based in the UK but with a few Irish customers The local LETS grou p who are restarting after a gap for the Celtic Tiger Posted in Uncategorized Tagged with tralee transition towns No comments By phoebebright November 26 2009 Brochure and FAQs for the Liquidity Network now available We now have a simple 1 page brochure to give a brief overview of what the Liquidity Network is how it works and the potential benefits to a local economy The Brochure can be downloaded in pdf format here Please share widely We have also been working on a set of questions to follow on from the brochure If you can t find the answer to your questions do add questions at the end of the list and we will get you an answer as soon as

    Original URL path: http://theliquiditynetwork.org/ (2016-02-16)
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  • About – The Liquidity Network
    so on There is thus a multiplier effect whereby the initial credit fuels transactions worth many times more than the value of the initial loan When the seed credit from banks dries up as in the current crisis the multiplier effect which normally helps to create liquidity efficiently acts in the reverse way and removes liquidity quickly FEASTA s Liquidity Network aims to address this problem by creating an alternative liquidity stream which is not based on debt By admin 11 14 pm One Response Stay in touch with the conversation subscribe to the RSS feed for comments on this post skintnick says I m getting the impression this is an electronic currency or what can we call it and if so would be concerned about the alienating effect that would have on many of the neediest citizens and the quid s ability to facilitate trade at the hand to hand level which would be of most benefit to local economies November 15 2010 10 47 pm You must be logged in to post a comment Subscribe About The Liquidity Network The aim of the Liquidity Network is to address the current liquidity problem the slow down in economic activity

    Original URL path: http://theliquiditynetwork.org/index.php/about/ (2016-02-16)
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  • faqs – The Liquidity Network
    Will big business privatise the monetary commons linked to this post on February 25 2010 to the Liquidity Network FAQ that credit is similar to what elsewhere has been established as paper based local currencies You must be logged in to post a comment Subscribe About The Liquidity Network The aim of the Liquidity Network is to address the current liquidity problem the slow down in economic activity triggered by

    Original URL path: http://theliquiditynetwork.org/index.php/faqs-2/ (2016-02-16)
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  • Rationale – The Liquidity Network
    soar and as a result of the guarantees it has given the government will have to borrow the funds to make their losses up At some point the banks losses may exceed the state s ability to raise more funds and the nation would default The contraction in the money supply has therefore to be reversed There are only three conventional ways that this can be done One is that the money could be borrowed whether by government business or private individuals and spent into circulation However this road seems blocked because firms and individuals are reluctant to increase their extremely high borrowings in present circumstances while the state is already borrowing so much it would be unwise even if it were possible for it to borrow more The second and third ways are also blocked One is to earn more money from overseas by exporting a lot more than the country is importing The other is to attract in foreign direct investment Neither presents good prospects in view of the global recession By Fabio Barone 3 37 pm 0 Responses Stay in touch with the conversation subscribe to the RSS feed for comments on this post You must be

    Original URL path: http://theliquiditynetwork.org/index.php/rationale/ (2016-02-16)
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  • Outline – The Liquidity Network
    keeping tabs on the exchange of goods and services within a network using some sort of barter unit But typically these networks seize up after a time with some enthusiasts building up lots of credit and others owing but having no real incentive to earn Many other innovative social credit projects have been created to address the systemic problems of barter networks and have thrived to a greater or lesser extent especially during recessions They all work with pseudo currency units FEASTA s is called the Quid or notional hours worth of labour The FEASTA plan is novel in a number of ways as will be described later but these innovations might be only of academic interest were it not for the planned scale of the Network Networks of this sort always face a critical mass problem Typically they would grow slowly and organically outwards from a core group usually based in one locality While there are few participants there are only a few alternative ways to spend your units and a smaller market to earn them from so growth can be slow FEASTA believe the seriousness of the current Irish crisis is such that there is no time for the Liquidity Network to grow organically in this way if it is to have the impact desired The reasons for this assessment are not repeated here but see e g http www irishtimes com newspaper opinion 2009 0203 1232923383096 html By Fabio Barone 3 23 pm 0 Responses Stay in touch with the conversation subscribe to the RSS feed for comments on this post You must be logged in to post a comment Subscribe About The Liquidity Network The aim of the Liquidity Network is to address the current liquidity problem the slow down in economic activity triggered by the

    Original URL path: http://theliquiditynetwork.org/index.php/outline/ (2016-02-16)
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  • Core Idea – The Liquidity Network
    of the bonus units that they were given should be taken away provided of course that they had units in their account and the trust managing the system decided that units needed to be taken out of circulation to maintain the currency s value because the total level of trade was in decline There is no question of users having units which they have earned by their work as opposed to having been given as a reward by the trust being taken away by the trust except in payment of account maintenance fees However as all units will be given into circulation as a reward it would be possible should the need arise for them all to be gradually taken away as the need for the system lessened and the level of trading declined This system of rewards and penalties is only possible with a completely electronic currency system in which the managers can track changes in the level of activity in every account By Fabio Barone 3 26 pm 0 Responses Stay in touch with the conversation subscribe to the RSS feed for comments on this post You must be logged in to post a comment Subscribe About The

    Original URL path: http://theliquiditynetwork.org/index.php/outline/core-ideas/ (2016-02-16)
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  • Quids – The Liquidity Network
    the Quids and creating the multiplier effect referred to earlier If everyone use and sit like this of course then there is a problem similar to the barter problem with winners and losers The challenge for the Network is to generate quickly an extensive range of Quid accepting products and services And the strategy for this is a combination of a starting with a large number of accounts rather than starting small and growing organically b creating some no brainer ways of spending Quids e g paying your tax bill with them to create Quid confidence c prioritising the operational side of the network by partnering with organisations who have infrastructure to manage the Quid accounts Network Partners The Network doesn t have time to develop these systems from scratch d developing and sharing meta information about Quid usage options via directories and member marketing support By Fabio Barone 3 29 pm 0 Responses Stay in touch with the conversation subscribe to the RSS feed for comments on this post You must be logged in to post a comment Subscribe About The Liquidity Network The aim of the Liquidity Network is to address the current liquidity problem the slow down

    Original URL path: http://theliquiditynetwork.org/index.php/outline/quids/ (2016-02-16)
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  • Velocity – The Liquidity Network
    is no direct link between the Quid and the euro they can not be cashed in or officially converted to normal currency But there is nevertheless need for stability Quid accepters dont want to have to keep repricing their services every week And if for example taxes were indeed payable in Quid then public sector partners would insist on stability So it is important to have confidence that the Quid M3 control algorithms can prevent Quid inflation and to be able to demonstrate that to the satisfaction of Network Partners To the Quid user in the street there is also a confidence issue though there is perhaps more time to develop this confidence The fact that unused Quids devalue over time anyway is helpful because there is a built in use it or lose it factor irrespective of any underlying Quid inflation So just as the workings of the internal combustion engine are largely irrelevant to most car drivers what goes on under the Network bonnet is likely to be of limited interest to the average Quid user By Fabio Barone 3 31 pm 0 Responses Stay in touch with the conversation subscribe to the RSS feed for comments on

    Original URL path: http://theliquiditynetwork.org/index.php/outline/velocity/ (2016-02-16)
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