Complementary currency

A complementary currency (French complément " Supplement") is a means of payment, which has the character of a complementarity. It is the agreement within a community, something in addition to accept next to the official money as a medium of exchange.

• 2.6.1 WE
• 2.6.2 swap
• 2.6.3 talent

Purpose, origin and context

An additional currency can be a product, service or a monetary equivalent credit. It is in the sense understood as "money" that it meets the original and actual function of money as a " medium of exchange ". Complementary currency can also be a foreign, stronger currency. To exercise the U.S. dollar this feature in much of the world with a weak local currency.

The aim of such an agreement is to compensate existing social, economic and ecological imbalances that could arise from the monopoly of the official currency for long periods of scarcity, without displacing the currency altogether.

Depending on the purpose and scope combined monetary systems are already successfully practiced within communities for many centuries. Usually it is handled that taxes can only be paid with legal tender, everyday transactions in goods and services can be paid to part with the second currency, however.

Especially in the wake of advancing globalization critics were created worldwide numerous complementary currencies since the 1990s, with which vitalize some people in economically weak regions of their economy and want to make themselves independent of external donors.

Finally, it may at complementary currency systems also effective and sustainable methods to preserve a global cultural diversity, go to the realization of self-determination rights and to avoid prolonged social unrest, if they are caused by monetary deficiency.

Examples of Complementary Currencies

The shell money in Papua New Guinea

Papua New Guinea knows next to " Kina " ( legal tender) and the traditional shell money of the local population, promote its use, some provincial governments. In February 2002 the world's first Clam Bank was opened near Rabaul on the island of New Britain. The currency exchange is located in the province of East New Britain. There are the Tolai the largest population group. Traditionally, pay with Tolai shell money. The unit is " fathoms ", which are money lines, ranging between two outstretched arms. In 2001 the provincial government of East New Britain has approved the payment of taxes even with shell money. The " Tolai Exchange Bank " changes the shell money in hard currency, the Kina. The current exchange rate is four Kina for a Fathom. Alone on the Gazelle Peninsula is estimated a round of shell money in the amount of eight million Kina.

Japan

The ongoing economic problems since 1990 have resulted in Japan about the corresponding legal easing to try out of complementary currencies. The biggest boost for there were 1995 after the devastating earthquake in Kobe. The government was overwhelmed with the provision of financial assistance. So many local self-help organizations that made a nation-wide assistance emerged. The traditional Japanese sense of honor provides to reward foreign non-family help. So these developed various " Fureai - Kippu systems," local networks on a nonprofit basis, be credited to a time account where paid social care services either paid in yen, or. One can transfer to needy family members own time credit, even if it's not needed themselves.

In the following years, many currency combinations emerged in various forms and for various purposes such as education, environmental protection, community assistance, disaster protection, biological food crops and various measures for the preservation of cultural values ​​, such as theater and music performances. They all form a large experimental laboratory medium-term research projects on the most suitable models. In August 2002, the Minister of Economy Takenaka announced his view that the use of complementary currencies would free Japan out of deflation, as prepared in this way would finally back money at the local level.

The Japanese author and business analyst Eiichi Morino compares the complementarity between the yen and the second local currencies with the yin and yang principle:

"That's why we say that a well- functioning economy of yin and yang economy is economy. The existing economy is ... but designed only as Yang economy. ... In this sense, one can understand the local currency as yin economy. The ... Yin - Yang economy and the economy need to be integrated, and as the blood circulates in the body, even the money should circulate in the economy. "

Germany

Probably by far the oldest complementary currency in Germany is the Bethel euros (up to euro adoption Bethel mark). It has existed since 1908 and allowed to buy into the institutions of Bodelschwinghschen Bethel. Here in purchasing a Bethel - Euro is equal to one euro, but who exchanged euros in Bethel euro, gets 105 Bethel euro for 100 euro. For a long time formed the Bethel money an exception in Germany.

Between 1926 and 1931 there were in Germany the Wära experiment. It succeeded in particular, despite the global economic crisis to take the lignite mine Schwanenkirchen back into operation until the Wära money was banned in 1931 by the Ministry of Finance.

Since the early 1990s formed the exchange rings so-called local, localized complementary currencies out. Since 2001, Germany also recorded an increase in regional initiatives for the establishment of complementary currencies.

In October 2001, a regionally limited coupon ring was introduced in Bremen. Just as with the follow-up projects in the regions Chiemgau, Ainring, Oberpfaffenhofen, Göttingen, Witzenhausen, casting, Hagen, Schopfheim, Siegen, Berlin, Dusseldorf, Dresden, Kamenz, Zwoenitz, Hitzacker (Elbe ), Neustadt (Dosse ) and Schleswig -Holstein is there. targeted to a revival of regional economic cycles The voucher rings can connect all consumers and traders.

The convertibility for the euro and the use of exchange charges is handled differently. In addition Chiemgau social projects are co-financed, the participants in the voucher ring can decide which project they want to support.

Many of the projects in Germany are united in the umbrella organization " Regiogeld eV " with its headquarters in Magdeburg. Its goal is nationwide to initiate new projects and to make all individual projects with each convertible. There are connections on similar initiatives in Austria and Switzerland.

In addition to these regional currencies, there is particular since the mid- 1990s, notes on special occasions. They are modeled on the series notes from the period around 1920. They are cash and valid on special occasions, such as school events, catering, at class reunions, town festivals, company anniversaries, exchanges / exhibitions, club events, or in children's cities. They are usually valid for only one day, but can also rotate up to one year.

German Democratic Republic

From 1979, currencies were converted for use by citizens of the GDR in Intershop by the State Bank of the GDR in forum checks in the GDR. A forum Check- marrow corresponded to a DM

Austria

History

1932/33 brought the city of Wörgl under then- Mayor Michael Unterguggenberger a complementary currency in the form of scrip in circulation. To retain their validity had the so-called working confirmation certificates month are covered with a brand value of one percent of the nominal value. This complementary currency experiment was known as the miracle of Wörgl.

Presence

Even today consists in Wörgl again a complementary currency. This was conceived as part of a LA21 project as a regional sectoral currency used for the Wörgler youth. The device won the SozialMarie 2009.

2003 Unterguggenberger Institute was founded in Wörgl, which since then has devoted to the documentation of historical events and experiences of research and coordinated network of people interested in complementary currency projects.

The current project is the tragendste Austrian Vorarlberg talents Tauschkreis. There are also NeuesGeld.Com with another network of experts and with Za: rt a concentration of active initiatives for the purpose of payment clearing and organizational networking.

Switzerland

WE

The Swiss WIR Bank Cooperative, called to 1998 WIR economic circle cooperative, offers the world's largest alternative clearing system.

When the world economic crisis in 1934 in Switzerland reached its peak, the economy Ring of Free Economic Learning was founded to promote the commercial middle class. Among the founding members were Werner Zimmermann and Paul Enz and Otto Studer. Your influence has the WIR economic circle but soon shaken off and has no free economic elements more since 1952. In particular, he worked only until 1948 with a circulation safeguard.

The participants in the clearing work alongside the Swiss franc with a cashless complementary currency called WE. To shop or hotel receipts in Switzerland one repeatedly encounters the WE logo. In a Web -based directory, and business advertisements in the WIR participants indicate their participation and announce to complementary currency they accept what percentage instead of the Swiss franc.

The WIR economic circle has been subject since 1936 to Swiss banking law. In 1998 was officially renamed WIR Bank. In 2004, the complementary currency WE the ISO 4217 three -letter code CHW shaped in correspondence to the local currency CHF (Swiss Francs).

Swap

In 2008, EasySwap, a Swiss non-profit association, created the exchange platform. In order to exchange goods and services, use the " swapper " ( Enrolled Internet platform, users of easyswap ) the swap, a virtual complementary currency.

Talent

1992, a new Swiss complementary currency was created under this name, which ties back to the idea of free economy.

The Crédito in Argentina

The Crédito in Argentina was a complementary currency with very high coverage, which was traded to a nationwide network of clubs. The currency was used during the Argentine crisis as payment of up to 7 % of the population and collapsed as the Argentine peso was back in sufficient quantities. Other reasons for the collapse of the currency could easily be forged, some Créditos, and have been too rapid growth of the number of participants.

Cuba

A complementary currency in Cuba was long the U.S. dollar, which competed with the Peso Cubano and especially for the so-called "dollar stores ," state stores was with Western product selection, used.

The convertible peso was formerly coupled one to one to the U.S. dollar. He had volunteered for tourists and should replace the U.S. dollar. He is now a currency pot, which also contains the euro among others. He has now displaced the U.S. dollar as a complementary currency.

South Africa

The self-managed community of Orania in the Northern Cape since 2005 publishes the complementary currency Ora. This is linked to the South African Rand in the ratio of 1:1, but guarantees users a discount on all purchased goods in Orania. The Ora is recognized only in Orania as payment.

Disney Dollar The Walt Disney Company

The Disney dollar is a complementary currency that is accepted in the theme parks, the resorts and the shops of the Walt Disney Company as payment. The currency exists only in the form of the bills and was published for the first time on 5 May 1987. It gives the Disney Dollars as 1 -, 5 -, 10 - and 50 - dollar bill. The currency is pegged to a fixed and guaranteed by the Walt Disney Company exchange rate ( 1:1 ) to the U.S. dollar.

Financial crisis from 2007

In the context of the financial crisis from 2007 and the ensuing euro crisis parallel currencies have been proposed to be introduced in troubled countries such as Greece in addition to the Euro. Greater attention was given to the " GEURO " Post by Thomas Mayer, who was received in media such as TIME or mirrors. The Federal Association of SME sector in 2013 published an anthology Parallel Currency: Options, Opportunities, Risks, which provides an overview of the proposals.