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Posted by cannubis1 (U10601400) on Tuesday, 2nd September 2008
this swap club seems to run on tea, i missed the bit on how it all works can someone explain, if you can ill make you a brew lol cheers from tommy
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Wed, 03 Sep 2008 09:50 GMT, in reply to cannubis1 in message 1
Their currency is the "T", or "Transfer unit". I know, it sounds like a left-over plot device from Doctor Who, but it gives an excuse for mild yokel-related humour.
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Wed, 03 Sep 2008 10:54 GMT, in reply to cannubis1 in message 1
Plen-TEA.
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Seriously, though, can someone enlighten me as to how this is supposed to work. I presume they have to get round the state system by having a means of exchange that isn't convertible; but as far as I can see they have no currency at all, so if Pat's platitudes are valued at one TEA each and Joe will take you for a ride for five TEAS the only way Pat can pay Joe (apart, of course, from in sterling) is with platitudes or with some other product within the system - eg if she had previously swapped ten platitudes for twenty of Matt's sneers at 0.5 TEA each but hadn't used them all she could offer Joe ten of those for one of his rides. But, as far as I can see, if Joe wants neither sneers nor platitudes no trade is possible.
Can anyone tell me if my understanding of the system is roughly accurate because I'm at a loss to work out why supposedly intelligent people would get into such a tizzy over the IOU fiasco?
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Sun, 14 Sep 2008 19:09 GMT, in reply to HtoHe in message 4
HtoHe, you've got it exactly right.
The only person in a tizzy is Soozan, and rather than winding up the scheme they should just kick her out of it, IMHO.
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Sun, 14 Sep 2008 23:36 GMT, in reply to HtoHe in message 4
IOUs were not originally seen as being part of the system. When they started being used by default they became transferable (i.e. they became a currency). Then forgeries started to appear. If you have a currency then you have to protect it from being forged. There is a variety of ways they could fix the problems they are having, e.g. by logging all transactions in some way, or by making IOUs non transferable or by banning them.
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Message 6
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On what basis, mike? I don't remember any general agreement to recognise IOUs and in the absence of such an agreement they are not currency - their efficacy extends only as far as those who choose to accept them and anyone who gets stuck with a walletful is, well, stuck. I might, of course, have missed the episode where one of the gurus of Ambridge transition announced that the community would redeem notes purporting to be TEAs
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So far as we know there has been no official pronouncement either way and as several of these have been in circulation for a couple of weeks it surely makes sense that they be honoured? I don't favour defauding people who have entered into a transaction in good faith!
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message 8
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Anything issued in good faith should be honoured, mike; but surely that's a question of tracing it back to the debtor, not passing it on to someone who isn't a party to the transaction. No system will survive if it undertakes to honour any promise made (or accepted) by any idiot, even in good faith.
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Yes, I agree that the scheme needs to be fixed (somehow) and put on a sound footing.
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