Stroud Pound Celebrates First Year of Supporting the Local Economy this weekend - I remember the launch well - see here - it was the same weekend as the Eco-Renovation Open Homes and the Randwick Horticultural Show - both those are again this weeekend. Anyhow yesterday I helped out a bit with their publicity - this is the press release that we sent....Saturday 12 September (oohps I mean Sunday but Saturday folk will be in Stroud!) marks the first anniversary of the launch of the Stroud Pound. After a year of operation the scheme is working well but needs to expand if the benefits are to be maximised for the whole community of Stroud. The 10,000th Stroud Pound is likely to be issued later in the month (i).
Philip Booth, a local District councillor and supporter of the Stroud Pound said: "The 10,000 pound is a significant success. The Stroud Pound is all about strengthening our local economy, building new relationships and making us think about how we spend our money. Over £200 has been raised for charity. It has already appeared on BBC Breakfast and Reuters International and The Guardian will cover the anniversary later this week. Stroud Pounds aren't the whole answer but are part of the shift that needs to happen to relocalise and build resilience for our future."
Money raised for charity
Molly Scott Cato, a Green Economist and one of the initiators of the Stroud Pound said: "3% of the value of the vouchers bought goes to local charities. Members choose which causes, so supporters of local charities can raise money simply by signing up to the Stroud Pound, changing money regularly and spending it in the local economy. In the first year over £200 has been raised with the for example nearly £40 each going to Transition Stroud and Stroud Valleys Project (ii)."
Five leading traders!
Molly Scott Cato added: "The money donated to charities is raised from the traders, who accept a reduction of 3% when they swap the Stroud pounds back for sterling. So the community of Stroud has reason to be grateful to the businesses who are part of the scheme. The five leading Stroud pound traders over the last year have been Star Anise café, Tony’s Butchers, Stroud Bookshop, Green Spirit in Nailsworth and Walkers Bakery. Each of them is a local business providing a quality service to the community. Acceptance of the Stroud pound is making them more widely known and appreciated."
Notes to Editors:
(i) Stroud Pounds work like book tokens. Stroud pound members purchase them at various outlets in the Five Valleys and spend them with participating shops and businesses. This is money coming to their shops, stores or businesses that might otherwise be going to internet shopping, big retail stores and out-of-town shopping centres. If they can't spend the tokens directly with other traders or for personal shopping, they can be exchanged back to sterling (knowing that 3% goes to local charitable causes).
Stroud Pound Co-op Ltd. has been set up as a viable not-for-profit enterprise that runs and administers the scheme on behalf of its members. The project is supported by Stroud Town Council and is an initiative of Transition Stroud. It is run entirely by volunteers. Accounts are available for inspection. Details of the scheme can be found at www.stroudpound.org.uk
(ii) The Marah Trust has had £20 donated with nearly £30 being donated to the Stroud Pound Co-operative itself.
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'Two Events this Autumn to Liven up the Way we Think about Money'
Maybe I Should Have: Tale from the Economical Wonder Iceland
A film by Gunnar Sigurdsson
30th September, 7.30pm, Exchange
Although Iceland is a tiny economy with a smaller population than the city of Bristol, what happened to its economy in 2008 explains in microcosm the financial crisis. In this amusing and accessible film, Gunnar Sigurdsson explores how his national economy was gambled away by a few money-men and shares with us the route he followed when he decided to 'follow the money'. Gunnar's journey has involved considerable air miles as he trekked from Guernsey to Tortola in the British Virgin Islands to track down the movement on the non-existent money on which the Iceland miracle was based. There he discovered 600,000 financial companies were registered, with no regulation whatsoever, including 120,000 in just one small office block. His deeper journey of disillusion and loss of trust is one we are all embarking on, whether we choose to or not.
The film will be followed by a discussion of what the implications are for our own national economy and for Transition Stroud.
Mary Mellor: Money: From Financial Crisis to Public Resource
2nd December, 7.30pm, Exchange
Ecofeminist economist Mary Mellor will be visiting Stroud to share her analysis of the financial crisis. Her recent book The Future of Money provides an insightful (and comprehensible!) account of what has gone wrong with money, and what we need to do to put things right. Mary's conclusion is that the state is central to the stability of the money system, while the chaotic privately-owned banks reap the benefits without shouldering the risks. She argues that money is a public resource that has been hijacked by capitalism. Mary is Emeritus Professor at Northumbria University in Newcastle, where she was founding Chair of the University’s Sustainable Cities Research Institute
This article in Red Pepper gives an idea of the flavour of Mary's talk: http://www.redpepper.org.uk/The-future-of-money
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