Open Credit Network
The Open Credit Network is a mutual credit network for the UK.
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News from Open Credit Network
Updates on our activities and progress.
- There’s a massive flow of money in the world, from ordinary people and communities to tax havens. This concentrated wealth is used to gain political influence and prevents real democracy. The bigger the credit commons gets, the smaller that flow is.
- It builds strong communities. We get to know and trust each other, and give each other credit.
- There’s no interest, and no need for banks.
- It doesn’t contribute to perpetual economic growth, so it can form the basis of a new, genuinely sustainable system.
- Trade can still happen in areas with high levels of poverty (or if there’s a financial crash, and people have no money, or money is worthless).
- It’s good for small business. It delivers more customers, and if those customers don’t have money, they can still buy from you, so you don’t have surplus stock / spare capacity hanging about. And if you don’t have money, you can still buy from your suppliers. We can get interest-free credit from each other (which is needed, because banks won’t lend to sml. businesses).
- It’s not an ideology, it’s just a tool to help communities and small businesses, and to build a better economy. It’s neither left nor right, which divides people. It’s non-exploitative and democratic, but it’s also based on free market principles (rather than centrally-planned) and nothing to do with the state.