So you don't like the world economic system? Why not set up your own?
It might seem far-fetched, but that's what a group of Bay of Islands people are doing by facilitating the exchange of goods and services on a local level.
The Bay of Islands Community Exchange is an internet-based system where members can post offerings - everything from electronic publishing to organic eggs, massage and Sanskrit lessons - or advertise for goods and services they want. Currently members want everything from biodiesel to viola lessons and fresh fish.
The goods and services are priced in Bay of Islands dollars or "Boidols" - a virtual currency set on a par with the New Zealand dollar - and members' accounts are limited to a maximum of plus or minus 250 Boidol.
It's a form of barter, but avoids the limitations of traditional one-on-one systems (for example, the person who has the organic eggs you want doesn't want the Sanskrit lessons you have to offer).
The exchange is an offshoot of environmental group Transition Towns Bay of Islands and so far has about 50 members from Kerikeri to Russell.
Member Inge Bremer said using a community exchange kept trade local, avoided the "tremendous burden" of interest and could make goods cheaper and fresher by missing out middlemen.
"But the main benefit is that you have to talk to people. You're not just going to the supermarket and getting things impersonally. It creates a closer community."
The exchange is about a year old, and members now hope to take it to another level by expanding the use of the Boidol and
plan a paper version of the currency.
Ms Bremer said complementary currencies were not new.
During the economic crisis of the 1930s the Austrian town of Woergl paid workers in vouchers, which could be exchanged for food or accepted as payment for rates. Current examples include the "Totnes pound", accepted by 70 businesses in the English town of Totnes, and a currency called the "Wai" used in the Wairarapa.
Group banks on fair exchange
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