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Adventures in mutual credit

Coming soon... mutual_credit 7.x-3.0!

After 18 months developing (since Drupal 7 was released), I can't wait to put Community Accounting version 3 to reach production. The need for this software, I believe is more than ever, and awareness of it too, is growing. In four years dedication I've seen the competition fall away, and the main obstacles to implementing grass-roots exchange systems is no longer technical, but political. In Drupal 6 the following has been achieved:


Common Good Finance is developing a set of open source tools for local communities to create liquidity and investment capital, backed by their own productivity. It is looking for local economic actors such as chambers of commerce or Transition Towns who are ready to update the way they do business.

Transition and the money system

Peak Money - A transition conversation

Transition towns gathered in London to advance their thinking on money and the economy, to continue their work with Transition Pounds.

The day opened with a presentation about the problems with the money supply, which was an excellent grounding for many delegates who were more interested in the economy or local economies. Positive Money and NEF are becoming very proficient at explaining these matters.

Mercy for Zimmerman!

The black community complaining loudly the police have decided not to arrest an alleged murderer. Rightfully so. What kind of state is it that lets murderers walk free? Is that what freedom in America means?

Intertrading API Peer review

I have now designed and implemented (in drupal 7) an API suitable for mutual credit sites to 'intertrade'. This means that exchanges can coordinate payments into and out of accounts nominated for the purpose of external trade. The API links up mutual credit exchanges into a mutual credit network of mutual credit exchanges. This is unlike normal money because each exchange, just like each user, must vacillate around zero balance within the network.

The Lord's Prayer (2011)

Our Dollar, which art in the Bank
Hallowed be thy Name.
Thy Kingdom Come, Thy will be done on earth as it is in heaven
Give us this day our daily bread, and enforce our debts
As we enforce the debts against us.
Lead us into temptation
And deliver us our containers from China
For thine is the Pecuniocracy, the military and the vassal states,

City of London addresses barter

Happily my suit and I are in the same city, and together we slipped in to the launch of The Corporation of the City of London's £200,000 report on the 'capacity trade' industry. This was my first brush with the politicised side of commercial mutual credit systems. Daniel from Ormita who had contributed to the report warned me that many people in the industry don't actually understand mutual credit, and were putting the collapse of some exchanges in several countries down to other causes than the massive deficits being run up by the franchisee.

The case for open source B2B

Firstly this Wikipedia quote talks about B2B and the industry supporting it:

Work, incentives and rewards survey

Yesterday I surveyed 12 occupier-volunteers (from kitchen, medicine, pastorial, IT, Library, and info) as I could find at St Pauls, London.

1 There are enough people doing my work. 4 agree
Apart from some people whose work was light, or self selected, many volunteers felt that if they took time for themselves, important work wouldn't be done.

2 Everything in the camp should be equally available to all occupiers 5 agree

Capitalism can't build community web-services

A new breed of web site seeks to reconnect us to our neighbours - through the internet! Using up-front capital a polished web service can be built to mediate and encourage relationships between neighbours. But what happens when these sites are competing for territory?


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