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| ABOUT LETS |
L.E.T.S. (Local Employment & Trading System) is a system of barter or trading which uses locally created currency between members to value their trading. The unit of exchange is called WAIS, which equals, more or less, the NZ$ in value. WAIS are a measure of trading between members. They're recorded in members’ accounts and may be held in the form of WAIS Vouchers.
L.E.T.S. was designed by Michael Linton in the early 1980s on Vancouver Island, Canada, as a response to high unemployment in the community and to give value to people's skills when federal dollars became scarce. Now it exists more for other reasons, such as an antidote to globalisation, enhancing identification with local community, providing a sustainable economic trading system and valuing people's skills that are not frequently honoured in the conventional cash system. The main feature is that wealth created by trading and using WAIS stays right in the community. WAIS is complementary to the conventional economy.
WAIS:
* is available to anyone who wants to work
* is better than a barter system
* there are no risks
* you can trade with many people
* is good for your community
* is available to anyone who has a skill or goods someone else needs
* creates jobs by giving credit
* works alongside the Kiwi dollar
* creates wealth which circulates locally interest free
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