Local Currency Creates Economic Community Resilience

"The B£ is the UK’s first local currency in an urban area and the fourth transition town to have its own currency, following the Totnes Pound in Devon, Lewes Pound in Sussex and Stroud Pound in Gloucestershire.

The B£ project has been initiated by a group of volunteers from Transition Town Brixton (TTB), a community-led organisation for action on energy issues and climate change.

The B£ story is a great example of local traders getting together to support each other and maintain the diversity of the high street."

www.brixtonpound.org

Here is a short video explaining how a local currency like the Brixton Pound works:

 

 

David Boyle made a speech at the launch of the Brixton Pound:

One of my first experiences of currencies along the lines of the Brixton pound was in Ithaca in upstate New York, where they have had an amazing printed currency for the last 15 years. You can get loans in it. The biggest loan was for $36,000. Not bad for a local currency. Some of the notes are printed on paper made from Angora rabbit fur, which is an innovative solution to the problem of counterfeiting which has not yet struck the Bank of England. But I met a man there who had been mugged in Manhattan. The mugger searched through his wallet and said, hey what are these?. He brandished a pile of Ithaca notes.

My friend explained that they were a way to keep local economies moving, and the mugger was fascinated. Wow, he said. You’re right about the world: money doesn’t work for people like us, does it. And of course it doesn’t work very well. It works beautifully for a very few, for whom it is endlessly elastic and flexible and forgiving. When Robert Maxwell fell off his yacht, he owed twice as much as Zimbabwe. But he had a yacht...

Read David's full speech on Rob Hopkins's blog.

 

Positive TV was there to film the launch and talked with Duncan Law and Tim Nichols from Transtion Town Brixton:

 

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