Community Exchange Network (CXN)

Someone once told me that everything starts with a dream. In my case it was more of a nightmare when, on September 1992, interest rates jumped overnight to a staggering 15%. Businesses collapsed, people lost their homes and some of my business clients killed themselves. This was not a natural disaster but one of human design. I realised then that we all played our part in it by trading our energy in an economic system which is fundamentally flawed by design due to a simple monetary invention called interest. Ten years later the results of economic polarity took on a more visible and frightening form and it has changed our perception of the world from one of trust to one of fear.

I decided back then that there had to be a better way to work and gave up working for money. Instead I worked for my friends using exchange tokens which we all shared in a fair way by helping each other and sharing our resources. The LETS group I started has now grown to over 400 active members who will have traded 1,000,000L of energy by this time next year. Without leakage the tokens continue to recycle around our community. People became recognised and valued, skills developed, projects blossomed and friendships formed. If a small bunch of folk in the North of Scotland can achieve this, then there must be hope for everyone.

Other groups wanted to replicate New Moray LETS so we developed a software system which embraced the values and operating principles we had developed. They too flourished. Demand grew for these groups to trade between each other and the inter-trading network was born. It has been a long and bumpy road getting here and too many folk to mention have contributed along the way. If you too wish to find a better way, just follow your dream and join us. Its fun

 Once you have joined CXN we will send you your own chequebook with which you can use to pay other members of the network for goods and services. You don't even need to earn Scotias before you spend them. You can spend up to your initial limit of 500 Scotias straight away. Remember there is no interest to pay and by going into debit you will simply push other members into credit. They in turn must spend the Scotias they have earned with the other members.

Its like a domino chain. What goes around comes around. The exchange limit ensures that every one can give and take as much as they need. Both are equally necessary in a healthy exchange economy. As there is no leakage in a closed system, the Scotias continue to circulate around all of the members, forever. In CXN the sum of all debits will always match the sum of all credits.

You will also receive a copy of the current Scotia News which will list all of the members offers and wants in an easy to use classified layout. Once you have chosen who you wish to trade with simply give them a call to discuss and agree the price. This can be part Scotias and part Sterling. Its up to you both to negotiate and haggling is encouraged.

You then simply pay the other member with a Scotia cheque or, if you are a LETS group, your local members can pay with their own local LETS cheques. Cheques are then posted or details e-mailed to CXN accounts who will record the transaction and notify both parties by e-mail.

Every three months you will receive a new issue of Scotia News along with your trading statement which will list all of your transactions (just like a bank statement). If you are in credit you are encouraged to advertise what you want. If you are in debit you are obliged to advertise more offers. You can change your offers and wants anytime by post, e-mail or soon, via the CXN website.

At the end of your financial year you will receive an annual balance statement for you to submit along with your sterling accounts. Any net credits must be recorded in equivalent pounds. Debits are tax deductable in equivalent pounds too. Exchange trading is not only legal but is also a really good way to 'do business'.

Did you know that over 25% of world trade is carried out by exchange trading ? OPEC are amongst the worlds' many organisations who keep their own account of exchanges between trading partners paying only outstanding balances owed at the end of each year using bank currency. Bank money is becoming increasingly expensive and complex to use and that's without the added burden of interest charges and the social and environmental damage caused by debt dependency.

The most successful businesses spend any profits earned before the end of each financial year. The UK TAX authority penalises only those who don't. In other words, a business which spends its income on the running costs of that business will spend less tax. CXN encourages you to trade in a similar way as there is nothing to be gained by hoarding Scotias. By trading up and down through zero, your organisation will maximise its effectiveness.

For further information, contact:
Stewart Noble, Jeremy Perron or Elspeth Barker
Tel: (+44) 01309 676128
Mob: 07966 019544
e-mail: info@cxn.org.uk
Website: www.cxn.org.uk