This is fascinating, congratulations to the spirit of the Greek people ! The question @ 11:42 "how do you create money from nothing ?" is wrong -- the TEM (as I understand it) comes into existence when a product or service is delivered, therefore, all TEM is backed by either a physical product, or a real service, provided first. In fact, that is the very definition of money (also a store of value, in addition to being a measure of exchange), as opposed to it being only currency (a measure of exchange). The way they got this properly organised with the use of modern tech, is commendable, as is the foresight to prevent undue expansion (inflation) of the TEM supply beyond the true value of the underlying products and services (by limiting max amount of TEM held).
I love economic history, seeing how economies work and units of exchange develop. Every single time control-freakish and manipulative governments destroy the official currency, local currencies develop organically like this. The innovative thing here is the use of the internet to keep track of the goods and services that form the commodities backing the system.
@@Amghannam Then the internet will be remade and you can transfer cryptocurrency physically it is just code you can keep on a thumb drive or have printed on paper.
This is what they been doing for ever in Oaxaca Mexico in the open markets people gather and exchange goods for goods including cattle chickens wood anything thats harvest made or raised. Like the lady said back in the days in the villages they use to exchange . And so true this way everything has more values.
So Tem is like virtual Credit based on Euro pricing. With Regulations of course like no hoarding more than 1200 Tem. They have to spend it to circulate the money(Tem).
I’d love to smack this way of trading up the bankers faces. If we all did this we could say goodbye to the greedy corporations. All we need is a ripple effect!
The economic destruction of Greece at the hands of the EU is one of the reasons we British are leaving this corrupt and tyrannical regime,October 31st can’t come quickly enough for me.
It is a system of exchange that has driven micro-economics since the dawn of civilization. It works and empowers communities to thrive. It is also illegal in the US and Canada, i presume elsewhere where governments are controlled by the banks.
The trouble is, as time goes on and residents have to pay utilities in €, the village as a whole will have less and less €, having spent it all on utilities.
A lot of people are doing this in all country's across the world, I am a member of Time banking in my city in the UK. the original ideas come from a town in Austria called Worgl. During the depression in 1932 the Mayor introduced a local currency based on the ideas of Silvio Gesell's book Natural Economic Order, which dug them out of poverty, rebuilt the infrastructure and helped the residents live a good standard of life, its referred to as "the miracle of Worgl". It was so impressive that other towns and city's and the French president wanted to learn more, but the central banks took legal action and closed the currency down and put them back into depression & a few years later Hitler took over. there is some great books online about local currency's and systems: People Money People Powered Money The Guernsey Experiment Natural Economic Order - Silvio Gesell The_Future_of_Money-Bernard_Lietaer Rethinking-money_-How-new-currencies-turn-scarcity-into-prosperity Scared Economics - Money, Gift, and society In the Age of Transition Exploring The Big Idea of Time Banking
well euro has year or two left, so this is good way to go. Ps- want to save some money, check the 'Bit Gold', all info on their website and it is not a bitcoin
Im sure there government doesn't like this unless they add taxim sure there will be someone trying to make counterfeits pretty soon. I hope not because they are in need.
ενα σχολιο για το τεμ,δεν ειχαν προνοησει να βαλουν οριο στα ποσα τεμ θα μπορουσε να εχει ο καθενας,ετσι εκεινοι που βρεθηκαν απο την αρχη της λειτουργειας του,βρεθηκαν να εχουν 2,και 3 χιλιαδες τεμ,και ενω ειχαν τοσα τεμ,αυτο που προσφεραν σχεδον δε το ηθελε κανενας,αλλα εκεινοι θα μπορουσαν σε καποιο καινουριο μελος να του αγορασουν μεχρι και αυτοκινητο,και να του προσφερουν πισω το τιποτα.η κατασταση αυτη δημιουργηθηκε,με τη πτωση της μαζικης αρχικης προσελευσης.πιστευω οτι αν το ανωτατο οριο στα ποσα τεμ,μπορουσε να μαζεψει ο καθενας,ηταν στα 200,θα ειχε συνεχεια μελη που θα αλλαζανε,περρισοτερη λειτουργεικοτητα,ποικιλια στις υπηρεσιες,και σιγουρα και προσελευση.
And if everyone used barter, there'd be no taxes paid and no way the government could provide necessary services (health, schools, roads, policing, defence, legal systems, social security, etc.) and pensions. Also there'd be no way of building up large amounts of capital to invest in businesses, property, infrastructure, etc., which is going to make things worse for Greece. The country does however need to leave the Euro as it condemns any economy weaker than Germany's to perpetual recession.
You are short-sighted doctors provide care not the government more doctors more care at lower prices if the licensing bottleneck was removed and quality school certifications returned to keep the frauds and quacks at bay. Schools Khan Academy over ten million people getting free education K to College, not from any government. Roads flat spots on the ground oh so hard to do... let us just ignore thousands of years of them being done without governments. Where does government money come from? The economy and that is why the more you tax the poorer you get as at best you are taking from your left pocket to put it into your right pocket but on the way you are spillig to waste and corruption.
Greece has a retirement age of 55yrs old, govt employees 52yrs old, then they get a pension that's bailed out by Germany where they retire at 65yrs old moving up to 67yrs old, so basically the Germans work longer to support the Greek retirees, nice move, don't know how long you can keep pulling that off.
Just take a look at what German government did and does to our country and other Eu countries and stop saying that you re working to support us. You have everything thanks to us. The only think Germans know to do is war and be corrupted.
Lulz, hello tax evasions, no wonder the thing is so popular. And whoever emitted the TEM-s into circulation probably also made some good money off of it.
A cute name does not make lending something else. These systems postpone the problem. There s always someone the poorest, in your """network"""". Solidarity can only be given by the government. Loansharsks , pr stitu tion, in fact anything can happen. Any """"solution""" hailed, that includes "anything can happen" is postponing. Or if (seems ya thangngngng at least afr americans dont appear so snub) you enjoy cute words so much, procrastination. Any average north european is convinced again, they not handling the problm, they just yak out of their a grees.
This is fascinating, congratulations to the spirit of the Greek people ! The question @ 11:42 "how do you create money from nothing ?" is wrong -- the TEM (as I understand it) comes into existence when a product or service is delivered, therefore, all TEM is backed by either a physical product, or a real service, provided first. In fact, that is the very definition of money (also a store of value, in addition to being a measure of exchange), as opposed to it being only currency (a measure of exchange). The way they got this properly organised with the use of modern tech, is commendable, as is the foresight to prevent undue expansion (inflation) of the TEM supply beyond the true value of the underlying products and services (by limiting max amount of TEM held).
What a lovely news piece. Thank you for posting this.
Love the ingenuity of this town. I know this show was produced many years ago but I would really love to see how they are doing now.
This is a lesson for all of us. long live Greece..
I love economic history, seeing how economies work and units of exchange develop. Every single time control-freakish and manipulative governments destroy the official currency, local currencies develop organically like this. The innovative thing here is the use of the internet to keep track of the goods and services that form the commodities backing the system.
That's how used to be back in the old days just trade really, currency is just paper note no value
barter system.......only way to escape from the cartels.
Cryptocurrency is far better you don't need to find people who want what you have in order to trade.
@@Barskor1 But what if the internet doesn't exist?
@@Amghannam Then the internet will be remade and you can transfer cryptocurrency physically it is just code you can keep on a thumb drive or have printed on paper.
@@Amghannam but it does
This is the way to go. I would love to go on holiday here. We can all support this if we tryed hard enough. Wonderful people. Very good video.
Thanks Greece for sharing this heart warming story
Get the hell out of EU - what are you waiting for? Fire the useless politicians and get your lives back.
999acharya they tried remember? Its like removing a leech stuck in your rectum: Its gonna be shit.
Even like this, they are living way better than many countrys, and better than russians !
I like the Greeks!!!
The world will learn from your countries example of how people can work together ❤
This is fantastic! Great story : ))
Such lovely people with dignity! God bless them
Good for Greece! Once again they are leading the way to the future.
I love the TEM idea it's working brilliantly
This is what they been doing for ever in Oaxaca Mexico in the open markets people gather and exchange goods for goods including cattle chickens wood anything thats harvest made or raised. Like the lady said back in the days in the villages they use to exchange . And so true this way everything has more values.
Nice one
So Tem is like virtual Credit based on Euro pricing. With Regulations of course like no hoarding more than 1200 Tem. They have to spend it to circulate the money(Tem).
I’d love to smack this way of trading up the bankers faces. If we all did this we could say goodbye to the greedy corporations. All we need is a ripple effect!
Grey Line ripple will be the new USR , money! Not more USD 😉😉 in few years maybe 2020
The economic destruction of Greece at the hands of the EU is one of the reasons we British are leaving this corrupt and tyrannical regime,October 31st can’t come quickly enough for me.
This is so brilliant
Awesome idea!
Great idea
Wow that's brilliant.
Back to our roots, before $
Always have been a big fan of Amos Roberts’ work on JP and SBS.
Bravo
We are going to need this system in 2021
they really love marmalade
Get out of the EU-fimancial and social dictatorship , ASAP
NEXIT next
It is a system of exchange that has driven micro-economics since the dawn of civilization. It works and empowers communities to thrive. It is also illegal in the US and Canada, i presume elsewhere where governments are controlled by the banks.
Wow! How beautiful and amazing
The trouble is, as time goes on and residents have to pay utilities in €, the village as a whole will have less and less €, having spent it all on utilities.
A lot of people are doing this in all country's across the world, I am a member of Time banking in my city in the UK. the original ideas come from a town in Austria called Worgl. During the depression in 1932 the Mayor introduced a local currency based on the ideas of Silvio Gesell's book Natural Economic Order, which dug them out of poverty, rebuilt the infrastructure and helped the residents live a good standard of life, its referred to as "the miracle of Worgl". It was so impressive that other towns and city's and the French president wanted to learn more, but the central banks took legal action and closed the currency down and put them back into depression & a few years later Hitler took over.
there is some great books online about local currency's and systems:
People Money
People Powered Money
The Guernsey Experiment
Natural Economic Order - Silvio Gesell
The_Future_of_Money-Bernard_Lietaer
Rethinking-money_-How-new-currencies-turn-scarcity-into-prosperity
Scared Economics - Money, Gift, and society In the Age of Transition
Exploring The Big Idea of Time Banking
This is a from of quantitative easing - mitigating the deflationary pressure in Greece.
Is there any open source TEM platform yet? I want it.
kudos GREEK!!
2:30 so sad....
This is very interesting, I wonder if it could work in countries like Zimbabwe and Venezuela
It sure could but a cryptocurrency would work better as it would give them worldwide options and markets.
Greece needs it's own currency back.
I love Greece
They look so much like us ?!! O_o (Palestine)
This is the pure form of Capitalism the movement of people and good with some bit of regulations. No hoarding of wealth and good.
10:38 "i got eggs , I got lettuce , I got a tin of foil" Please would love to see a recap on this Story.
I dont understand is this borrowing till u get the money???
but our poor taxes the gov will miss out..
TheUS calls this the barter system. The exchange of goods or services.
Gold should be the only currency!
well euro has year or two left, so this is good way to go. Ps- want to save some money, check the 'Bit Gold', all info on their website and it is not a bitcoin
How do the Elderly participate?
Babysitting, skill instruction, if you can read write and do basic maths you can teach others.
Im sure there government doesn't like this unless they add taxim sure there will be someone trying to make counterfeits pretty soon. I hope not because they are in need.
"How do you create money from nothing" banks do it everyday!!!!!
Competition is good.
what do people think about this,,,,???
🎩
😁
👕👍Great!
👖
👍✨✨✨
🎉😊👏😁👏😃🎉
Congratulations!
Love uit defillippijnen❤❤❤❤
ενα σχολιο για το τεμ,δεν ειχαν προνοησει να βαλουν οριο στα ποσα τεμ θα μπορουσε να εχει ο καθενας,ετσι εκεινοι που βρεθηκαν απο την αρχη της λειτουργειας του,βρεθηκαν να εχουν 2,και 3 χιλιαδες τεμ,και ενω ειχαν τοσα τεμ,αυτο που προσφεραν σχεδον δε το ηθελε κανενας,αλλα εκεινοι θα μπορουσαν σε καποιο καινουριο μελος να του αγορασουν μεχρι και αυτοκινητο,και να του προσφερουν πισω το τιποτα.η κατασταση αυτη δημιουργηθηκε,με τη πτωση της μαζικης αρχικης προσελευσης.πιστευω οτι αν το ανωτατο οριο στα ποσα τεμ,μπορουσε να μαζεψει ο καθενας,ηταν στα 200,θα ειχε συνεχεια μελη που θα αλλαζανε,περρισοτερη λειτουργεικοτητα,ποικιλια στις υπηρεσιες,και σιγουρα και προσελευση.
👍❤️
How does taxation work with this currency?
TEM = Euro killer
I'm Greek and it looks like they are trading 1 Tim for 1 euro so eventually they will only have tims
I dont understand, who manage the network ?
thats not new
Nice greek nose 4:17
i know a better currency in greece, its LiteTEM Cash its faster to mine
And if everyone used barter, there'd be no taxes paid and no way the government could provide necessary services (health, schools, roads, policing, defence, legal systems, social security, etc.) and pensions. Also there'd be no way of building up large amounts of capital to invest in businesses, property, infrastructure, etc., which is going to make things worse for Greece. The country does however need to leave the Euro as it condemns any economy weaker than Germany's to perpetual recession.
You are short-sighted doctors provide care not the government more doctors more care at lower prices if the licensing bottleneck was removed and quality school certifications returned to keep the frauds and quacks at bay.
Schools Khan Academy over ten million people getting free education K to College, not from any government.
Roads flat spots on the ground oh so hard to do... let us just ignore thousands of years of them being done without
governments. Where does government money come from? The economy and that is why the more you tax the poorer you get as at best you are taking from your left pocket to put it into your right pocket but on the way you are spillig to waste and corruption.
A 5℅ Scale of the new Greek Currency would help in supporting the propagation of the new currency of Greece
Greece has a retirement age of 55yrs old, govt employees 52yrs old, then they get a pension that's bailed out by Germany where they retire at 65yrs old moving up to 67yrs old, so basically the Germans work longer to support the Greek retirees, nice move, don't know how long you can keep pulling that off.
Just take a look at what German government did and does to our country and other Eu countries and stop saying that you re working to support us. You have everything thanks to us. The only think Germans know to do is war and be corrupted.
why not take tax from bank accounts
Why can I not club you over the head and loot your pockets? Because it is wrong.
CAN YOU GET PENSION,,,AND WELFARE WITH THIS,,,,
No, you can not have your ponzi scams.
Lulz, hello tax evasions, no wonder the thing is so popular. And whoever emitted the TEM-s into circulation probably also made some good money off of it.
A cute name does not make lending something else. These systems postpone the problem. There s always someone the poorest, in your """network"""". Solidarity can only be given by the government.
Loansharsks , pr stitu tion, in fact anything can happen. Any """"solution""" hailed, that includes "anything can happen" is postponing. Or if (seems ya thangngngng at least afr americans dont appear so snub) you enjoy cute words so much, procrastination.
Any average north european is convinced again, they not handling the problm, they just yak out of their a grees.