“Charity” by Accepting Another Entity’s Currency

In previous posts, I have discussed targeted noncooperation with specific market entities through the rejection of its currency brand. However, it is worth noting that satconomy also encourages informed acts of cooperation with reputable entities that issue independent currency brands. For example, individuals and corporations could support nonprofits not just by donating or granting funds to other organizations, but also by accepting an organization’s independently issued currency units in a market transaction.

Think about it. A church needs construction material for a shelter that it is trying to build – would a hardware/lumberyard company accept that church’s self-issued currency as payment for its products? How about a grocery store accepting a school district’s currency brand to support the school’s lunch program? The main requirement is for the lumberyard or grocery store to also issue their own currency as unused budgets, so that they could use the payer’s credits to cancel equivalent units of unmet revenue budgets. In this way, an entity accepts currency from another entity to cancel its self-determined obligation to the market, and not to have more ‘spendable money’ .

Looking deeper into this dynamics, it is easy to see the importance of knowing which entities to support or avoid. A lumberyard could instead accept stolen money for construction material used in building a mansion for a con artist (such as Bernie Madoff) — would it have been better if the lumberyard accepted a church’s currency to support a more worthwhile economic activity? With generic currencies that are not traceable to specific market entities, it is difficult to answer such questions. To make such determinations easier, tyaga.org is attempting to develop practical implementation of the concepts of independent currency brands, OCAUP accounting and auditable reporting.