The CRX model is a Local Exchange Trading System and is an advancement over the common model applied as a LETS system. The most common LETS model is a debt based exchange system, and thereby reproduces the private and debt based monetary process at a community level. The CRX reflects the current best proposal for the reforms analyzed as necessary to reform the current default of a privatized monetary system. It thereby complies with the principles that are crucial to the American Monetary Institute proposal for national monetary reform.

Readers, this unemployed worker exchange cooperative is very close to the Community Reserve Exchange cooperative that we have been promoting here for a few years. It is based on a LETS 2.0 model instead of the LETS 1.0 model which is based upon the same monetary model that has produced the criminality and financialization standards that we are being brutalized by. The key points are that it was based upon the value of labor not debt based exchanges, it was growing and successful until the concept of idleness for pay was introduced.

Peter North is a senior research fellow and lecturer at the University of Liverpool England. His book Money and Liberation published in 2007 by the University of Minnesota Press is a serious consideration of community currencies and exchange in the context of economic and monetary reform.

Thomas H. Greco is a different sort of writer who has developed a significant following at the popular level of utopian economic literacy. One reason he is being reviewed here is based upon his long term advocacy of a particular approach to community currencies which he interprets as equal to advocacy for monetary reform. His first book was possibly the worst non-fiction book I had ever read up to that point.

Readers: The word "anarchism" has several negative connotations within the general public. In the most literal sense it can be defined as anti-archism. In Chomsky's definition anarchism places the burden of responsiblity to validate authority upon those who would chose to act on their own authority, rather than placing the burden of validation upon those who are ruled or constrained to be governed. Her critique of alternative currencies is for the most part accurate.

Readers: This is going to be a bit difficult to follow I expect, AND it seems like the most direct way that I can raise these issues about community currencies. This Dutch community currency is only a good example of a very shallow understanding of what is needed in the way of monetary reform. This is an example of the strong current of pop-economics within the conversations about community based currencies and exchange systems.

Readers: see http://www.economics.arawakcity.org/node/699 for a much more detail version 08/18/10