This is a subject I have thought a lot about. Would it be possible to completely side-step the toxic, debt/credit-based system we are living in and just invest the money we have in local, sustainable and resilient businesses?
Well, we could give it a go. It is all to do with bonds. A bond is a simple certificate that for example says “if you give me £500 now, I will serve you bread for £530 – that is an effective interest rate of 6%”. The baker can offer better rates as it is easier for the baker to give you product than actual money. A win-win for both.
This white paper is a more complicated discussion of how to set up such a system locally, and suggests that everyone uses the same monetary value as a starting point, so consumers can easily compare offers. Download the white paper here.