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.

Astonishingly, despite Brixton, Stroud, Totnes and Bristol being represented, there was no reflection offered on the transition pound projects to date. There were Skype reports from Greece, Portugal and Ireland, where things are pretty bad.

When the group discussions started, it became apparent that the people present mostly weren't concerned with the money supply, but were thinking more about ways to invigorate the local economy. The problem of fundraising for capital investment was discussed, especially as a component in the Reconomy project.

I suggested that communities could issue their own credit, but this idea was not taken up. However I did have a few private conversations which indicated that there is at least some awareness of this solution.

But don't expect a barter network any time soon.