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[Music] you're listening to the corbett report [Music] corbettreport.com welcome back ladies and gentlemen welcome back to the corporate report podcast i am your host james corbett of corbettreport.com coming to you as always from the sunny climbs of western japan here on the 29th of january 2021 welcome to episode 394 of the corporate report podcast solutions survival currency now i'm not going to bother pre-introducing this talk because i think i do a fairly good job of introducing it in the talk itself and what talk is that well of course my presentation from the greater reset conference that was held over this past week i'm sure many of you already know about this because i did talk about it during a recent solutions watch talking to john bush but in case you didn't i'll throw in the link to that into the greater reset generally so you can go and check out some of the talks that were given this is my presentation which i commend to your attention even if you did see the live version of this presentation i hope you will watch this presentation because video editor extraordinaire brock west has provided the visual information and context and clues uh that i think will make it a lot more understandable for visual learners in the crowd so i think it's probably worth watching and as always i i really suggest it is worth going through the show notes uh for this particular edition of the podcast it will be available at corbettreport.com survivalcurrency just type that into your browser and you will get the show notes for this which are voluminous and i think informative and instructive in opening up the conversation about survival currency so what is survival currency well let's get into that without further ado here's my presentation from the greater reset conference uh thanks so much for having me here today uh this is such an important topic that we're discussing here tonight as i know you all know um but so because it is such a big topic i want to try to limit it down to something manageable so i think that on the greater reset website what i'm talking about tonight was billed as something like the the power of alternative currencies i'm going to take a much more manageable and bite-sized approach tonight i'm going to talk specifically about solutions survival currency and that's an important distinction that i'm going to make in a minute here but first i wanted to start today with a letter that i just uncovered that i think will be very interesting to you so i'm going to read this letter to you it's from new united nations hq consumer enforcement division it's to winston smith and it is dated the 17th of february 2025. the subject of this letter is revocation of commercial interaction license and it reads dear consumer our biometric detection division has confirmed that you participated in the protests at last month's coronation of hillary clinton as supreme leader of the united states for life your case was reviewed by our enforcement personnel and you were found guilty of unlawful dissent as a result all of your financial accounts have been closed your carbon credit allowance has been frozen and your consumer participation chip has been deactivated you have been downgraded from consumer to laborer as such you may proceed to the nearest federal emergency management agency labor camp to receive your work assignment you will be provided a space in the dormitory and three meal credits per day all hail the new united nations praise be to secretary general rothschild yeah funny and of course this isn't a real letter this is something that i wrote back in 2016 it's just just josh and ya new united nations and some sort of a consumer and enforcement division that's going to be looking at your protest activities and taking you off of the the monetary grid as a result of them oh what's crazy stupid science fiction oh wait oh oh no this this isn't science fiction of course this letter is completely fake but this letter is very very real and i'm going to read this letter to you which came out on september 4th of 2014 and was addressed to speedy cash of savannah inc by suntrust who wrote suntrust continuously reviews its products markets and client relationships to ensure that we are able to provide the best possible client service while also meeting our corporate business objectives there are circumstances where we will identify a specific account relationship that no longer meets these criteria in the best interest of our clients and suntrust we will request that those accounts be closed as a result of a recent account review we regret to inform you that suntrust is no longer able to provide some of the financial services you require we respectfully request that you immediately begin closing all of your suntrust deposit accounts safe deposit boxes and credit cards by october 6th of 2014 if you do not close these accounts by this date we will need to close them for you and either hold the proceeds until we hear from you or mail you a check for any collected balance blah blah blah etc etc yes this is an actual letter that was really sent out from suntrust bank to one of their clients speedy cash of savannah inc in 2014 to close their account but why you say well actually that's a funny story and by funny i mean horrifying namely the department of justice's operation choke point if you are unfamiliar with operation chokepoint i highly suggest you become familiar with that little operation that was perpetrated by the doj under obama it started uh as an idea in 2011 it was uh first revealed to the public in 2013 and it was shut down for good in august of 2017 so nothing to worry about guys it's just this completely illegal totally unconstitutional scheme whereby the doj used the federal deposit insurance corporation which is an independent agency of the us government guys don't worry about it it's totally independent it's just that the doj used the fdic and its supervisory role over banks like suntrust and many many many others all of the banks that participate in the fdic uh scheme to ensure your savings well they have a supervisory role over those banks so the doj leaned on the fdic to lean on the banks to pressure them to close the accounts of businesses completely legal law-abiding businesses that they didn't like and an example of those kinds of high-risk activities that the doj wanted to essentially outlaw from using banking services included those greasy and undesirable payday lenders those kind of scammers and prostitutes and tobacco shops and small pharma not big pharma they're okay obviously but you know the small kind of pharmaceutical buy buy cheaper drugs from canada kind of mail-order stuff uh online gambling dating services coin dealers ammo dealers yes again completely 100 legal and law-abiding businesses had their bank accounts closed because the fdic leaned on their bank to make sure that they closed those accounts and it was just suggestion it was just guidance they were just holding their their power over these banks as oh you know we could come in and use our supervisory role to start making changes or we could put you guys in the naughty books unless you close these accounts and they did and this was a huge thing and it took multiple lawsuits threatened lawsuits as well as a congressman who was actively fighting against it for they're even to begin to be pushed back on this it was until 2015 that the fdic said well maybe we'll stop doing this and then by 2017 supposedly they really did but operation choke point i did write an article about this that i'll direct you to it's called chokepoint how the government will control the cashless economy again i wrote that article in 2016 and here we are five years later how much further along the road towards that nightmare vision of a society where the government can come in and shut people off not just from having a bank account but from transacting at all in a cashless economy a cashless economy will never get there well fast forward to 2021 and we're already well along the road towards that and it's only accelerating so again i would direct people to that uh that article if they need more information on that if you're watching this live obviously i don't have this posted to my site yet but when it gets posted to my site with the show notes at corbettreport.com survivalcurrency there will be links to all of the things i'm going to talk about tonight but i just wanted that as sort of the way to set the table for this conversation because as funny as this kind of fake letter is it's based on the real letters that have already gone out and that's just the beginning of the nightmare that we are stumbling into now having said that what i am here to talk about tonight obviously is important but we all know that right you're not here because you're just finding out about this or this is the first you've ever heard of it oh i never knew that the government could control currencies like that no you know that there is a problem so that's why you're here so we're not going to dwell on that uh for this for the purposes of this talk tonight what are we going to do well that's a good question so let me lay it out what this presentation is not this presentation is not another attempt to describe the problem as i say you probably already know about it at least in general detail if you want more specifics i've talked about it for year after year after year for over almost a decade and a half now so i'm pretty sure you can get caught up to speed from my archives alone let alone everything else in independent media space this presentation is not an attempt to solve the money problem once and for all here is how to do it this is capital m capital r monetary reform this is how we will transform the entire nature of monetary reality it is not an attempt to do that and it is not an attempt to create a one singular solution that everyone must follow blanket everyone this is for everyone this is one size fits all it is not an attempt to do that what this presentation is is an attempt to outline not even the necessity for as i say you already know but the options for creating a survival currency emphasis on survival currency to be differentiated from that idea of some sort of alternate monetary paradigm where we'll set it up and it'll all be this big system that will all function this way and everyone will participate because it'll be all golden no no we're talking about survival currency when and if you get cut off from the grid when your bank accounts are closed and your ubi or your social credit payment or whatever it ends up being gets cut off in the coming years as part of the uh a biosecurity state tied into the biometric id state tied into the social credit score etc when that nightmare coalesces and you get cut off so that you are not able to buy and sell in the officially declared decreed legal tender of the land what are you gonna do that is when you need a survival currency and it better already be in place by that time so that's what we're going to do in this presentation this is meant as a starting point for those who are willing to begin the experimentation that is going to be necessary to find out what will thrive and what will fall to the wayside as we create alternate alternative communities that will support other ways of transacting other than the filthy dollars or yen or pesos or euros or pounds that we think of as money so um as i say that's the broad outline of what we're going to attempt to do today and more specifically i want to stress some general principles that i think are exceptionally important to keep in mind as we proceed with all of this the first one is do not put the cart before the horse and in this case the cart is the currency the horse is community and what i mean by this is that any system that you come up with some elaborate scheme some accounting measurement and we use this and we transact this way with this kind of thing all of those schemes are wonderful and amazing and i'm so glad that you have such wonderful ideas but without a community that is actually dedicated to bringing that scheme about that is actually willing to participate in that scheme you have nothing you have ideas that aren't even worth the paper they're printed on uh because you have to buy that paper that they're printed on in filthy dollars or whatever not in this imaginary currency that you've imagined up out of whole cloths so the horse is community put the horse before the cart and the horse will dr drag the the cart so the currency idea is great but it comes after the community that's why as derek noted in my introduction here i have stressed and promoted the idea of freedom cells which i hope everyone watching this knows freedomcells.org is the place where you can go and start a freedom cell of course as i'd like to stress it doesn't have to be freedomselfs.org you don't have to do it through that organization that's an idea a way of connecting with other people but if you want to connect in other ways please do the point is to create community and i like the idea of starting in small groups groups of eight or something manageable and then connecting to other groups i think that's a much more stable structure and probably a better way to start the idea of talking about and then implementing transaction and exchange networks that will facilitate actual productive economic activity when it if we arrive at mad max apocalyptic scenario and or the government coming down and cracking down on dissent to the point of taking you off the the payment grid so that's the number one general principle i want to stress do not put the cart before the horse community is the horse the second general principle the perfect is the enemy of the good we are not going to create the perfect system all in one whole fell swoop and it's oh here it is and this is it and this is this is it for all time uh and if that is the the standard by which you are measuring what you were doing then you are not going to get anywhere you'll probably never even try because you will never measure up to that in the real world certainly not at first so do not uh only hold the perfect as the standard by which we will measure everything against uh another general principle to keep in mind take advantage of existing systems do not reinvent the wheel here we do not need to recreate and reimagine and start from scratch chances are there are already local community exchange networks that exist in your local area whether that's a local exchange trading system and or some sort of community community currency or community dollars or whether it's a time banking system whether you have some sort of agaris network in your area that would be heavenly wouldn't it but take what you have in your local area and work with it um move it along if you have a a freedom cell that can infest a uh an already existing community currency and maybe take it over in some productive way that you can steer it more towards your ends hey whatever you have to do but don't necessarily scrat start from scratch that's going to be a lot harder than using something that already exists if there is already an infrastructure in place where you live that is probably the place you want to start trying to see how you can mold it and adapt it and that's the next general principle adapt all the ideas that are presented to you and anything that you can think of adapt them to you in your particular context with the people that you're working with in the community that you're in and for the for the purposes that you want to facilitate exchange now uh again if you're starting with a small group of people that's going to be a different thing altogether than if you have some sort of mass idea for an online community of millions of people around the globe or something along those lines there is and there's many things in between and different types of exchanges are going to happen in different contexts so whatever it is you have to adapt the ideas that you have for the context that you're operating in another general principle it is not all or nothing this is particularly evident in the monetary reform space where there is a lot of dogma that either you are 100 dedicated to this particular idea in this particular way only this is money and nothing else or or i don't i don't even want to transact with people at all it is not all or nothing especially when we get into survival currency sure again when we're talking about the theoretical system of the future where we're going to create some sort of system that the entire world will agree on it'll be so easy yeah okay we'll worry about that then okay then we can have the all or nothing dogma my my way or the highway kind of approach when you are in a survival situation where you were literally scrambling to provide food for your family chances are you're probably not going to be so dogmatic so let's start from from that point of the survival currency what can i do to facilitate exchange with people in my area who i know who i want to exchange with but we don't have access to these dollars yens pesos whatever so it is not all or nothing do not give in to the dogma of that and then the final general principle before we roll up our sleeves here it is all hot air until you actually do something in the real world it is just blather unless it is being done in the real world and look no one likes blather more than me you know good old james he'll blather on for ages but this is 2021 we do not have time for blather and for talking shops and for debating and going back and forth i want to see real action in the real world that is what we need right now much more than yet more bloviating mouthpieces just flapping their gums so in an attempt not to do that tonight let's start i want to dive directly into actual examples of existing things that could serve as some form of survival currency for your community however you define that and whatever that may be and again these are all examples that hopefully you can take ideas from you can adapt you can see if they exist in your area you can build on you can discard completely if you don't like them etc these are just ideas that i'm throwing out on the table so let's go through some of them and uh the more specific the better now again as i say the community is the horse you have to put the horse first so it really does depend on what your community is and what you envision for what kind of exchange trading facilitation you want to do that will very much determine what kind of currency ideas you're willing to look at now the ideal situation the absolute ideal would be some sort of community where you know everyone personally on a name first name basis you are friends you you have the same goals you want to accomplish the same things you were working towards the same ends you all want to support each other there are enough of you to productively produce all of the things that you need in order to survive and thrive and thus you are perfectly committed to helping other people if you see a friend in your community who needs something you're perfectly willing and able to provide it for them and vice versa everyone's harmonious yay nirvana yay we can all go home because i i really don't think we really even have to worry about money and currency in that situation so everyone who is in that situation in their life right now please put up their hand yeah uh yeah precisely no one okay well oh well well when you get there i'm i'm pretty sure you won't need any of this survival currency nonsense but for the rest of us living in the real world where we do have relations with people that we are not 100 in community with and or uh are trying to or or don't have or maybe even have that community but aren't able to provide enough to sustain ourselves and thrive uh in that way we're going to have to roll up our sleeves and start getting specific examples of what people have done and are doing to facilitate exchange amongst each other and i again i want to start with really specific examples so i will immediately break that rule by going to sort of a couple of the general ideas that are out there that unfortunately again fall prey to this dogmatic approach that i talked about earlier you know i'm in the conspiracy space i deal with dogma and woo on all sorts of things every day that people have very strong opinions about and yet i'm not sure there is any any space that is more uh driven through with that type of dogma and wu than the monetary reform space and everyone has their angle and everyone is the messiah who has the one answer that's going to solve all your problems and every one of them is wrong every one of them is wrong don't don't fall into that trap please but having said that i know there are dogmatists who have certain dogmas and so i'm here to say okay great form your community based on your dogma that's great if it facilitates exchange that's awesome that is literally all i want is people to exchange so i know for example there will be the people in the crowd the only thing that is money is gold and maybe silver or precious metals or some sort of hard commodity like that great okay yeah sure again find your community where you are producing everything you need and everyone that you know will trade with you directly in precious metals and i guess you're all physically in the same geo geo geological or geographical location because i mean obviously you're not doing this internationally right so anyway okay great again as i say set it up so obviously i don't think i need to elaborate on the idea behind using precious metals as a form of exchange uh it is a it's a hard money it's a commodity based money um which has its pros and cons um and again people will have come down on different sides of the dogmatic line on this i i don't care i'm not dogmatic i'm agnostic if it works use it uh precious metals have worked historically because they are universally valued and universally recognized uh they can be minted in ways that are standardized and recognized and as long as no one's shaving the coins or putting uh tungsten in the middle or any of that kind of trickery and nonsense then you know you can be fairly sure okay this ounce of gold is worth about the same as it was a few thousand years ago in a different culture so it is a good store of value and it is also trustless so the pros it is universally recognized and universally valued to some extent if only for intrinsic value decorative value industrial value etc um so it does have some intrinsic value um the cons it is a commodity money so it does incentivize hoarding uh you rather than a a currency that is going to facilitate people actually producing something productive in the economy it is going to incentivize people to take get as much of that physical commodity as they can and to sit on it for as long as they can uh which is not really productive look again i'm not broaching the dogmatic debate i'm just saying if it works for you use it now uh i would i would i'm going to try to provide more info or places resources that people can use to find more information on all the ideas i'm talking about tonight but actually uh i don't know of a simple online registry or or list of businesses that accept payment in precious metals specifically so if anyone knows that please share it with the audience i think that's an important thing to have i would understand if there are businesses that do not necessarily want it known that they will accept precious metals uh or maybe even at a discount except precious metals because maybe they don't want uncle sam to know about such things or the uh the local equivalent uncle uncle takayuki here in japan i don't know um so maybe there's that type of disincentive for those businesses to be listed but i would direct people to where they can go and find businesses that will list their uh uh their precious metals trading but i again i'm i don't know of them so please let me know and now let's move to the next dogmatic only this is money which is crypto there are the people who say crypto is the only the solution the shining beacon of solution for what uh we're facing right now and it's perfect it's algorithmically generated so you can't you can't counterfeit it you can't fake it you know exactly how much exists you know the protocol so you know exactly how much will ever exist so you can't be inflated away and it's perfectly anonymous asterisk pseudonymous asterisk if you take 8 000 different precautions and use everything absolutely perfectly and store it only on the device that you've only ever used once and never connected to the internet and and write it down on a piece of paper anyway and asterisk asterisk asterisk yeah okay so again um again i don't think i need to at least explain the concept of cryptocurrency to people out there i'm sure you have heard about it in some form at this point if you have not i would highly suggest you watch the bitcoin psyop which is an episode of my podcast that i produced which is not what you think it is from that title don't make that mistake guys because i get a lot of people who think they know what that episode is about that they do not know what it's about but yes there are there are obviously cryptocurrencies that at the very least they uh no central bank needed for a cent for a cryptocurrency they're going to try to as i've been talking about recently they're going to try to transition us off into central bank digital currency and they're going to allied that difference and basically bitcoin fed coin whatever you know that thing that digital thing you've been hearing about here it is guys take your central bank wallet they're going to try to do that but a real cryptocurrency does not need a central bank does not need a middleman in the transaction it is peer-to-peer it's through a network that runs on a protocol that well different protocols work in different ways so again buyer beware as to what what protocol you're using are you on bitcoin or using bitcoin cash or using monero or zcash or 18 000 different varieties as people probably know by now um and it is a trustless payment system like like gold um or silver you don't have to know anything whatsoever about the person that you're interacting with in any way all you know is they've got the thing that they say they've got and they can physically hand it to you in the case of a precious metal they can electronically send it to you in the case of crypto so it's a trustless transaction you don't need to know any details and once it's done it's done uh now again with the cons exactly like gold or precious metals it is a commodity money so the incentive once again is to huddle that money forever which is exactly what bitcoiners do huddle is the the term for that in case you didn't know and uh and as any number of people will point out and depending again what side of the dogmatic line you're on the the big con of cryptocurrencies is the mad max scenario man what if there's an emp strike that takes out all electronics in the entire world for the rest of your life then where's your crypto there huh smart guy all right well if you are if your main concern about what currency you're using is whether or not there will be a worldwide catastrophe that wipes out all electronics forever tomorrow then yes you should definitely not even look at digital currencies even in the short term even for a day but i'm not sure my uh my contingency planning necessarily only looks at the mad max zombie apocalypse scenario as the only scenario we should be planning for it is a scenario but i'm not i don't think that's the only thing we should be worried about but anyway as i say that is a con um you you need electricity and you need internet access and you know the way things are going internet access certainly shouldn't be taken for granted it will probably become much harder when they form perform the next cyber falls flag to try to make internet access more difficult so um some resources that i could direct people to uh there are some cryptocurrency merchant lists and buying items and services with bitcoin type lists that i will put again in the show notes when this is posted to corbettreport.com later this week if you're watching live um but perhaps more importantly a service like agarist.market which i talked uh to mike swatic about recently i've people haven't seen that go watch our interview and where i introduced that idea uh basically a service it just lists different businesses that will accept crypto and other forms of payment including precious metals usually but not always again each seller can choose what they're listing uh and potentially at least these are people who are interested in algorithms so you could actually support something that's hopefully going to be part of the solution rather than the problem um but again there's so much to say about that but let's leave that there let's start looking and exploring some different options for people who want to look at other options other than those dogmatic die hards of the the commodity money die hards let's look at for example uh barter barter exchange services now again this is the type of idea that hopefully if you're in a close-knit community maybe with a freedom cell or some other small close-knit community of people you know and trust you could set up some sort of system whereby if somebody has a need another person can say hey i've got that and vice versa and you can swap and share and land and barter and exchange in that fashion in a very direct fashion where there's no currency needed whatsoever and hopefully you can help help each other out in tough times now here's a specific example of that because i want to point at specific examples as much as possible right now there's a an app that apparently has just been released called have need and uh please do not take this as some sort of promotion of this idea at zero i am zero percent guaranteeing any of this i'm just pointing to it as something that exists that people might want to check out and start discussing with their community with their freedom cell with whatever wherever you're discussing these ideas uh we'll take this from shareable.net they have an article up on multi-party bartering app saves time money and the environment uh it says if you had a guitar that you didn't need anymore but you were in the market for a snowboard the easiest and most frictionless exchange would be with someone who has a snowboard they want to offload and is interested in acquiring a guitar but finding that person with exactly that need at the right time in the right place is a near herculean task what people want and need and what they have to offer in return are as varied and diverse as people themselves connecting people across this complicated web of needs and desires is exactly the challenge have need a new bartering app is attempting to address a task other bartering companies and sales platforms like facebook marketplace offer up nextdoor and craigslist have failed at in the past and then they have a quote from the ceo the answer to what i saw as the problem of not having a successful bartering company to date were that none of them had implemented a multi-party barter architecture this addresses the core friction point of barter which economists refer to as the mutual coincidence of wants so anyway uh again i think this is an interesting idea this specific idea again i don't know anything about this app i'm not promoting the app in particular i'm just saying as a general idea the idea of barter exchange uh is uh certainly as the pro of being requiring nothing to start all you have is what you have and what i can lend this i don't need this i can give this away and you can enter into a network with other people that hopefully you can find some sort of coincidence of wants even if it's through a multi-party system whereby you trade with this person who trades with that person who trades with that person who trades with you etc so again there are ways to facilitate exchange but the cons of that of course that type of exchange is entirely trust-based you have to have some sense of who's on the other side of that transaction you have to have some community some reason for being together in the first place generally speaking i you can create sort of wider apps for this but that type of thing is largely trust based largely geographical uh it it's unlikely you're going to be exchanging things with people halfway around the world in order to get the snowboard that you wanted um and again it's extremely unlikely to produce really tangible and important results on unless it is extended to a very large scale again in your tight freedom cell community it might be good for very basic things that everybody has or everybody needs or everybody wants or those kinds of small level things but for random items that you might come across that you desire it's probably not going to fit the bill so unless you have a very large scale implementation there are different ways to look at this and different ideas out there it doesn't have to be direct barter it can be lending uh in various ways for example again in your in your freedom cell community or little group of people that you know and trust that are in your community and that you're working with together hopefully you will have a list of things that well i have this i have this we don't all need an extension ladder i've got one if someone needs it let me know we don't all need a circular saw i've got one if someone needs it let me know that that can be coordinated much easier again on a smaller scale but again it's probably less fruitful the less people you have involved in it so resources uh i'll throw in the link to haveneed.org again i know nothing about this app in particular i'm not recommending it i'm just saying it's an example an an idea to look at and i'll throw in a link to shareable.net where we got that article from which uh talks about a lot of these ideas in the sharing economy the gifting economy exchange networks those kinds of things okay let's move on to another specific idea uh this one is the volos tem tem and this is uh from volos greece which is a port city in greece that during the depths of the financial greek financial crisis came up with a i won't say innovative because it's actually just another iteration of an idea that's been tried many many times but it was somewhat successful in this case at least at that time in 2011 2012 it flourished shall we say in a relatively small area but uh it it gained some traction and this was an idea for a type of mutual credit uh system based on let's which is the local exchange trading system uh which is a an idea for mutual credit based systems that uh it takes a million different forms and has flowered up in a million different places in different ways to varying results one example is the volos tem um where volos residents the residents of that town again a small poor town i think 4 500 people it was as a small place but um they could offer up their services uh to their neighbors and get services in return um basically something between a a labor exchange trading system or a service exchange trading system and a barter system um and a lot of businesses like cafes for example would exchange uh a cup of coffee for some amount of euro and some amount of tem and they were issued uh i don't believe they were notes i think they they were just keeping a paper ledger at one point and i think they transitioned to digital and it was uh pretty popular um there were i think over a thousand people participating a thousand different businesses question mark residence question mark participating uh last time i was able to find any sort of numbers about it um i don't point to the vollos temp specifically as some sort of template to follow everyone should follow what they did in volos because as i say it did flourish in 2011 2012 it was helping to facilitate transactions in that particular port city in greece at that time but dot dot dot uh i have found very little information in english about it since that time there are there are a couple of articles i found that have been written since that time that seem to indicate it is still ongoing i don't know if it's still flourishing or thriving or many businesses are participating anymore but it might be an example as of a survival currency it's actually where i got i think the first my first indication that survival currency was a thing because i remember following that story at that time so if you type volos or tem into my search bar you will find different store articles and things that i've mentioned this in um again not as some sort of template that i think is a great answer but it was an example of there was a currency there was a community that had a lack of the currency the euros were not flowing around in greece at that time so they used that system to help facilitate exchange and it did help local businesses at least for a period of time so it's an idea to at least examine um the pros again it requires nothing to really get started with such a system all it needs is people who are motivated to to to join such a system and have something to offer goods or services and generally in a time of crisis if you have a community already in place then that will be easy to start the cons is that uh it well it requires a community of motivated people and uh there's something called metcalfe's law which talks about networks being inversely proportional to the what is it the square of the number of users in that network blah blah it's a technical thing but essentially it's the network effect if you have a large number of people participating in something a let's system or a time banking system an hours system there's lots of different variants on that idea if you have a lot of people participating in it it can be useful if you do not it probably isn't going to be useful and that's the problem it's the chicken and the egg questions so that could be a definite con to that type of approach but uh if you want more info on it there is an official site for the gualostem that i'll throw in i don't read or speak greek so maybe some greek uh people in the audience can can take a look at that and find out more details about how it's going currently i'll throw in a link to a recent ish article it's only a couple years old about that at least mentions the tam and how it's how it flourished again i can't really see whether or not it's still flourishing um i'll throw in a a journeyman pictures uh a video that was produced in 2012 about the the tem and how it came about that's interesting um but on the more general idea of let's systems and uh alternative community currencies those types of programs how they come about how they can function i'll throw in a book uh called money understanding and creating alternatives to legal tender that is by thomas h greco jr uh that i think was helpful for me uh it's it provides a good overview of the problem and then it gets straight into different examples of different things that people are doing the drawback with that book is it was published in 2001 so it is 20 years out of date uh but i i throw in this link specifically because that book is free on archive.org so there you go you can at least dip your toes into the water if you are interested in more about thomas h greco and his more recent work i understand he's at beyondmoney.net so i will suggest people will take a look at that and i know that there is at least one acolyte of greco in the corbett report community so hopefully again when this gets posted to my website he will be in the comments to answer any questions and direct people to more about the work of greco um but i found that book helpful in looking at a lot of different ways that this can be implemented again um that was just one particular one okay next ithaca hours uh let's get into a couple of warning type of stories ways that this could go wrong and things that you should be prepared for when you're preparing your survival currency ithaca hours and i say that actually as it got ours is often held up as kind of an example of how things can go right with alternative and local community currencies um so ithaca hours was from ithaca new york it was started a couple of decades ago or a few decades ago and it was a paper currency that was issued as part of a mutual credit system that was denominated in hours of work so people were essentially pledging their labor into the system and then they could draw on that pledge of labor to purchase services from other people in the community using these paper notes that were then issued that were denominated in hours so one hour i can't remember i think it was equivalent to 10 10 us dollars when it was first issued which was at that time when it was first issued in the 1990s i want to say i'm probably wrong on that but at any rate at that time that was double the national um minimum wage uh in the u.s so uh one hour of work was equivalent to ten dollars and you could denominate your services in whatever you wanted i mean if you if your services were worth more than that you could charge more multiple hours per hour of work etc yada yada there i mean there's lots of details to that but essentially it was labor-based and was genera generating value uh that through actual service to the community um so the pros of that type of system that was set up there was that it again it facilitated trade where there is labor and and people willing to work but there is not enough money uh the cons as has been noted before it's the kind of thing it's great for getting a haircut it's great for getting a massage but it's not great for getting things you actually need like eggs down you know down at the local supermarket probably rather than the farmer's market i mean it's it's useful in in in a certain realm um and i'm talking generally about these types of systems not necessarily specifically ethic hours because ithaca hours actually was really quite popular and did persist for a very long time i believe a couple of decades before it fell into disuse um much longer than most of these alternative currency uh community currencies tend to last so that speaks to its credit it was set up and it functioned and it thrived and when i talked to the founder of ithaca hours back in 2014 uh he did mention at that time that uh the best estimate was that something like seven million dollars worth of economic transactions had been transacted in ithaca hours in that local community that's phenomenal that's absolutely incredible but ethic hours is no more uh paul glover who was the aforementioned creator who i did interview so i hope people will go and check out my interview with paul glover on that uh he created the currency he was the the the evangelist who got it the ball rolling who got people on board with it who got the businesses to participate who who made it happen and when he left ithaca and he left the community it fell into disrepair um as he has noted it takes a full time at least one full-time representative in a community to be devoted to evangelizing and expanding a network in order for that community currency to actually flourish so it is it is a significant investment of time and and effort in order to keep these things going and as soon as the that person the visionary who saw it and who helped bring it about as soon as they leave these things often fall apart and as i say ithaca hours is probably one of the longest lived versions of this idea that has come along in recent years so it was uh it's worth looking at in terms of what can be done and what should be done and what shouldn't be done and how it things fall apart because yes once we get out of the survival currency mode and we're looking towards flourishing somewhere down the road we'll have to think about such things um so i will direct you to that uh yeah i understand he has a book on uh on how to create a community currency as well that i will direct people to now another warning example in terms of these examples is the miracle of virgo virgo wordle i don't know it's one of those crazy austrian german names with a lot on the o so i'm and a w is it a v is it virgo virgo i don't know i mean some austrian in the crowd can no doubt chastise me for my terrible pronunciation but then i will ask them to pronounce the name of the province directly to the east of my home province of canada and i can have a good laugh at your expense hahaha and then we can both have a laugh at the capital city of that province all right but the miracle of virgo which i will decide on that pronunciation is an instructive example when it comes to these types of community currencies so here's here's the idea in 1932 in the middle of the great depression the austrian town of virgo was in trouble and prepared to try anything of its population of 4 500 a total of 1500 people were without a job and 200 families were penniless the mayor michael unter gugenberger if you take nothing out of this presentation just take that name under gurgenberger had a long list of projects he wanted to accomplish but there was hardly any money to carry them out these projects included paving roads street lights extending water distribution across the whole town and planting trees along the streets rather than spending the 40 000 austrian shilling in the town's coffers to start these projects off he deposited them in a local savings bank as a guarantee to back the issue of a currency known as a stamp script stamp script the virgo money required a monthly stamp to be stuck on the circulating notes to keep them valid amounting to one percent of the note's value the price of the stamp was one percent of the notes value a businessman named silvio gessel came up with this idea in his book the natural economic order nobody wanted to pay for the monthly stamps so everyone receiving the notes would want to spend them the 40 000 shilling deposit allowed anyone to exchange script for 98 of its value in shillings but this offer was rarely taken up that was because the script could be spent as one uh spent as one shilling after buying a new stamp the money raised with the stamps was used to run a soup kit kitchen that fed 220 families the council not only carried out all the intended works but also built new houses a reservoir a ski jump and a bridge the key to its success was the fast circulation of the script money within the local economy uh 14 times higher than the shilling this increased trade and employment unemployment in virgo dropped while it rose in the rest of austria and then it's that idea so the other towns in austria were taking a look at this idea and they're saying wow what's going on the miracle of virgo as it's known incredible wow that's doing all these crazy things in the middle of the depression and it's it's flourishing what's going on we should adopt it so what happened what happened to the miracle of regal well that's instructive and we'll take this from a uh an article written by bernard leeter leeter i should get that pronunciation right a strategy for a convertible currency where he talked about this miracle of virgo he said no less than 200 cities of austria decided to imitate virgo at this point the central bank of austria felt threatened in its monopoly of currency emission and blocked the extension of the system against the opinion of the vast majority of the population this decision was appealed all the way to the austrian supreme court but was upheld wow surprise surprise it worked it helped it fostered it helped the flourishing of a community and that that community's economy and it's it's actual productive activity during a depression we can't allow that wait whoa you're at you're issuing this without our approval it's not going through our central bank uh oh no no no no no we're gonna squash that and they did legally of course through the courts it's the law of land what are you gonna do we got the guys with the guns so this is another instructive example for people who are looking to create a survival currency because inevitably people in the crowd will say well yeah sure but if you create anything that actually works they're gonna come after it yeah absolutely they're going to come after it i would like to reiterate something that i noted on new world next week last week do you think there's a way out of this crisis that doesn't involve confrontation at some point do you think there's going to be a way to just create something new that'll thrive and completely replace the system that will never be challenged that will net no no oh okay oh they've created something that will completely obliterate our system oh well i'm melting i'm melting no of course of course there is going to be confrontation and i think we have to understand that prepare for that in the ways that are possible but also mentally prepare ourselves for what that might mean and maybe maybe if there is to be another miracle of virgo perhaps the residents of that future hypothetical verbal will have to not lay over roll over and lay down when the supreme high court of the land tells them to do so and what does that mean and where does that go from there some extremely important things to be decided but this is all part of the fun of going through the great reset and more importantly the greater reset and these are competing agendas so we better we better understand that and we better be prepared for that all right um so so much more to say on this subject obviously and as i say i will have links to all the things that i've talked about in the show notes for this when it is posted to my website but that's gonna have to do it i think for this presentation uh please please please look into these ideas this is so important this is a fundamental thing and it's already happening once again remember operation chokepoint oh that's totally in the past they'll never do that again well yeah they will and so we have to be prepared for that we have to start survival currency thank you for your time and attention tonight excellent excellent great job james thank you so much for sharing that with our audience and yeah you say the uh operation chokepoint that's actually why i can't accept credit card or debit card for my kratom business brave botanicals it's because of operation chokepoint so it's a very real thing it's not something on the horizon before we let you go derek's going to say goodbye but we wanted to take one question from the audience and this one comes from uh youtube blackbird with james jenneman he does a podcast he had derek on recently to promote this so thank you so much for that james uh the question is now that the pandemic narrative is winding down what's next that is an interesting question i would uh i would dispute the premise i do not think the pandemic narrative is winding down i think it's ramping up and perhaps perhaps the covet 19 scam democrative maybe might come to an end this year i'm not even betting on that but it might but that does not mean that the the overall narrative is going to wind down we are just stepping into the biosecurity paradigm which i've been talking about blowing the horn about as loud as i can for the past year this is this is the transition into an entirely new paradigm and just as the way the war of terror was the underlying fabric of the reality they were trying to weave around us for the first couple of decades of this century this will be the the fabric until the next whatever comes along so i i do not think that this is winding down in terms of where is this going and what will this ultimately develop into i am actually writing a series of articles about that right now the first two have already been issued the first one was on currency uh uh yeah uh presciently enough i knew i was gonna be talking about that tonight so i i got a head start and the second one was on biosecurity and all the things that are coming along this the third part which will be released this coming weekend is on geopolitics so that is available on my site and i think there are some very important things that are happening right now that actually kind of weave all of these things together because the current monetary paradigm is ending the dollar as king is ending but in a controlled fashion they want to bring in the central bank digital currencies to replace that at the same time the scandemic narrative is transitioning the economy over into something else and setting up a new geopolitical reality where we're starting to see things like the covid vaccine passports well each country will decide which vaccines they're going to allow for their vaccine passports oh you've got the china vaccine no no no no you need the pfizer vaccine etc which is going to create an entirely new over overhang on terms in terms of the geopolitical reality that is preparatory to the setup for the world war three at the very least cold war narrative that we're heading into that as i've talked about many many many many times before is absolutely as fake and staged as the original cold war narrative was if you need more on that look at the work of anthony sutton who bladed out in black and white i think we're seeing the exact same thing with the setup for a china-us conflict that's going to be equally fake and staged but may result in very real loss of life and certainly will result in loss of liberties already is that's unfortunately where things are heading unless and until we press the greater reset button through things like survival currency and also obviously survival currency is about surviving right in the here and now amongst the people in your community the end goal of this or at least not the end goal but it's a further goal is to to try to create something that will thrive independently of the system and to grow that and flourish in that way that's that's our vision for a people's reset that we have to oppose against that that scamdemic vision that is helping to to bring about this this new normal thank you so much james all right everyone i hope you appreciated that presentation and i hope specifically you appreciated what i was attempting to do there which is get beyond the talking stage and into the action stage by looking at things that actually already exist in the real world and seeing how we can work with them or build on top of them or change them or discard them all together as always i want to stress that it is up to you to decide in your own context in your own situations what works for you and what does not and how you can adapt what may already exist to your own purposes i think that's probably the most fruitful way to go forward with an issue as fundamental as survival currencies again you may not appreciate how important this subject is at this particular moment but i have a feeling it's going to become a very important thing as we move further and further into the great reset and the new normal or fail to move in that direction because we are already becoming autonomous and that i think is the ultimate goal here so as i say horse before the cart horse is community so on that note i i want to say that i'm disinterested in receiving feedback from people who have some sort of idea for a perfect monetary system that if only everybody would adopt this everything would be perfect i i'm not disinterested in that i am aggressively uninterested in that and will ruthlessly delete any such emails upon receipt because that's great that's wonderful but we're beyond the ideal let's imagine some perfect system phase we're into the let's create something real on the ground now so that we can thrive in the future phase and on that note i am profoundly interested to hear discussions from people preferably people who are actively already engaged and involved in some form of survival currency how are you using that in your own community what community is that there are different forms of community the corporate report community is a type of community but it's an online community and thus their interactions are in a certain context in a certain way that are very different from real life interactions etc etc so what what communities do you interact with how do you transact with them in what currencies and what are you doing to move forward anyone who has actually developed and or been involved in an active and ongoing community currency of some sort i'm very interested in that type of feedback hearing from you what works what doesn't work uh what could be done better how can your idea be built upon etc that's valuable information and i think we need to increase the signal and decrease the noise in conversations around these types of topics because as i say everyone has their dogma in woo and just loves to harp on their uh their hobby horse but why don't we actually talk about what is working and not working in the real world so we can move this conversation forward that's the kind of community i'm attempting to foster at corbettreport.com i hope you will go to the show notes once again corbettreport.com survivalcurrency and of course there will be the community the corporate report communities interactions and feedback and hopefully people discussing their own uh involvement in community currencies and how we can move forward from here as i say this is just the beginning of this conversation just an exploration of what exists so we can see what we want to use and how we can build on that i hope you use this as the resource that it is and on that note i'm sure we will be exploring this issue in much more depth over and over in the coming years i think we're going to leave it there for today thank you very much for joining me for this conversation and i'm very much looking forward to talking to you again in the near future