Greece’s Cashless, Euro-Free Currency Working

HermesReports Jon Henley in the Guardian:

In recent weeks, Theodoros Mavridis has bought fresh eggs, tsipourou (the local brandy), fruit, olives, olive oil, jam, and soap. He has also had some legal advice, and enjoyed the services of an accountant to help fill in his tax return.

None of it has cost him a euro, because he had previously done a spot of electrical work – repairing a TV, sorting out a dodgy light – for some of the 800-odd members of a fast-growing exchange network in the port town of Volos, midway between Athens and Thessaloniki.

In return for his expert labour, Mavridis received a number of Local Alternative Units (known as tems in Greek) in his online network account. In return for the eggs, olive oil, tax advice and the rest, he transferred tems into other people’s accounts. “It’s an easier, more direct way of exchanging goods and services,” said Bernhardt Koppold, a German-born homeopathist and acupuncturist in Volos who is an active member of the network. “It’s also a way of showing practical solidarity – of building relationships.”…

Read More: Guardian

14 Comments on "Greece’s Cashless, Euro-Free Currency Working"

  1. The very definition of “Terrorist” is someone the State doesn’t like, so kill them all. Dirty terrorists who use unapproved currencies no less.

  2. I see the Greeks are finding new and exciting ways of evading taxes. Perhaps the rest of Europe can give them free backrubs instead of sending hundreds of billions of euros their way.
    Harsh? Maybe, but in contrast to other almost failing nations like Spain, Portugal, Ireland and Italy, the people and government of Greece have shown no willingness to take responsability for their debts instead opting for villifying the nations most willing to pay for Greek mistakes.

    • spoken like someone who has no clue about the reality of the situation.
      just another case of victim blaming, like blaming the rape victim for dressing like a slut…
      Greece’s main mistake was being small and weak.

    • I’m will to bet you 100 tems that Theodoros Mavridis & the other 800 Greek tax evaders
      neither approved of nor benefited from the “debt” incurred by the Greek “government”
      I realize the press has emphasized social largess as the problem
      but Goldman Sacs is both the cause and beneficiary of the crisis
      so let them pay
      besides they got lots of free US Treasury dough to pay with

    • Ceausescu | Mar 25, 2012 at 1:48 pm |

      Did you know Greece is the biggest importer of weapons in Europe ?
      Kinda strange, isn’t it ?

      Claude Frédéric Bastiat said it best: 

      law and morality contradict each other, the citizen has the cruel
      alternative of either losing his moral sense or losing his respect for
      the law.

    • Marklar_Prime | Mar 25, 2012 at 2:29 pm |

       If they had completely defaulted on their debt, kicked out their government and jailed the criminal banksters like Iceland they would be thriving now instead of being held to more and more fiat debt slavery. Instead they are being ruled and raided by the same people who caused their debt bondage in the first place.

  3. Re: Local Alternative Unit of Payment

    Splendid !  No more banksters !

    How about taking the next step: The electronic ecocredit as the payment unit ?
    It has the extra advantages of
    – preserving and expanding the natural resources
    – getting rid of poverty


  4. Mamagriff50 | Mar 25, 2012 at 7:57 am |

    Barter System……….It never fails.

  5. This short video explains what really is going on.!

  6. Banwhaling | Mar 25, 2012 at 1:34 pm |

     Who would have believed the Greeks would reinvent Utopia lol, looks like we’re coming full circle…

    •  Actually local currencies are nothing new though governments and banksters would like you to believe that they are.  Check out:

      Money: Understanding and Creating Alternatives to Legal Tender by Thomas Greco for a good history and explanation of the varieties and how they function.

  7. it’s happening even when mainstream thinks ron paul is crazy 

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