Date post: | 15-Apr-2017 |
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Economy & Finance |
Upload: | chris-cook |
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Credit Berwick
Back to the Future
Chris Cook
Berwick-upon-Tweed 23rd March 2017
Berwick Resources - Land
Berwick Resources - Energy
Berwick Resources - People
Independence/Resilience by mobilising Berwick resources
Credit
Prepay Credit- promise returnable in payment for value to be provided - original form of UK sovereign funding - “Stock”- people-based credits - goods and services- asset-based credits - land use (rentals) & energy use
Trust- no right to enforce delivery- credits/promises require trust in the promissor
Guarantee Society
Mutual assurance of risk - “Trust Framework”
Global - Protection & Indemnity (P&I) Clubs of shipowners have
mutually assured shipping risks for 140 years
Europe- Guarantee Societies of SMEs have mutually assured bank
loans to members for decades
Berwick Guarantee Society
Procurement – SMEs mutually assure performance risk to participate in major contracts (eg public sector)
Cost Sharing – SMEs pool individual purchasing power but delegate purchasing to experts eg energy, telecoms, water
Credit Clearing – mutual guarantee of Berwick trade (wholesale) credit & possibly even customer (retail) credit
Berwick Stock Exchange
Berwick investment in prepay credits land/buildings rentals agricultural production
Berwick investment in prepay credits: MegaWatts – energy production (at wholesale
price) Nega Watts – energy savings (at retail price)
Berwick Credit – the Community is the Currency