The Time Bank

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posted on Dec, 19 2012 @ 05:36 PM
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Don’t waste your time



Imagine yourself a future without money , or let’s say different kind of money. Money that’s hard to value or devalue. It only changes, if the earth changed orbit .Kind of money that has been always around us for billions of years.
I think it could be money that could change current money , and maybe the most logical solution to all corruption within the model we are now living in?
What I mean is Time, Time could function as substitute for current money that’s around . We could trade in time credits .Anyway Time will always stay the same I think it’s hard to change the value of time.
We vastly heading to a system that looks like its collapsing by greed and lust and luxury goods and real estate properties that all seem to be bought out of air. You may believe it or not but this bubble will someday soon burst and lots of us will suffocate by it, if not that's already happening to lot of people.



It’s not the first time that this has being done in 1827 the American anarchist Josiah Warren, who ran the Cincinnati Time Store from 1827 until 1830, and to the British industrialist and philanthropist Robert Owen, who founded the utopian "New Harmony" community. While both systems are based on the principles of mutualism and the labor theory of value, Josiah Warren's currency was explicitly pegged to time as a measure of specific goods or labor. For example, 3 hours of carpenter's work would be considered equivalent to 3-12 pounds of corn. Meanwhile, Robert Owen's currency simply bore an inscription referring to a number of hours, which presumably could be exchanged for however many pounds of corn a farmer would deem adequate or labor of any kind.



CONTEMPORY TIME BANKING
There have been other examples of alternative economies in recent history, most notably the "Notgeld" emergency money that appeared in Germany after the hyperinflation of 1923.
Notgeld was unofficial "money" issued by cities, boroughs, and even private companies to compensate for a shortage of official coins and bills. As long as Notgeld was accepted, no harm was done, as it was understood to be a valid certificate of debt.
Notgeld was actually more stable than real money, since its denomination was often pegged to material goods, such as gold, corn, meat, and so forth. The currency itself was purposefully made to be very pretty to encourage people to save the bills. This way, the debt would never have to be paid. Notgeld was printed on all kinds of material—leather, fabric, porcelain, silk, and tin foil.
Since it was not legal tender, the only people who dealt in it were those who wanted to. As a result, it had a stabilizing effect on the official currency, which was still in circulation.






The first successful contemporary time bank was started in 1991 by Paul Glover in Ithaca, New York. Following his idea, people began to exchange time, which led to the creation of a time-based currency—the "Ithaca Hours," which even local businesses began to accept, and which still flourishes. Time banking and service exchange have since developed into a full-fledged movement, usually centered around local communities.
Paul glover hour success


So putting up Time banks that work the same all over the world will not alone work by labor only, no it also brings people more socially together I think.

In the the Hague Netherlands There's also a time bank that just started to trade time for jobs and it seems that its working well .


Time/Bank at e-flux is modeled on existing time banks. Every Time/Bank transaction will allow individuals to request, offer, and pay for services in "Hour Notes." When a task is performed, the credit hours earned may be saved and used at a later date, given to another person, or contributed towards developing larger communal projects. For example, if you happen to be in Beijing or Hamburg and need someone to help you shop for materials or translate a press release, you would be able to draw on resources from Time/Bank without exchanging any money.



Through Time/Bank, we hope to create an immaterial currency and a parallel micro-economy for the cultural community, one that is not geographically bound, and that will create a sense of worth for many of the exchanges that already take place within our field—particularly those that do not produce commodities and often escape the structures that validate only certain forms of exchange as significant or profitable. Julieta Aranda and Anton Vidokle


Some time related banks already operating on this model.
are linked below

Time Bank

Paul glover

I don't know if there are more operating this way so if you find more please post them..


maybe it works maybe it don’t I don’t know, but a new fresh start we all need I think, if we want to make something out of this world. After 2012!

Because time is money…
Peace...










edit on 19-12-2012 by 0bserver1 because: (no reason given)




posted on Dec, 19 2012 @ 05:40 PM
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Great thread. A very interesting idea. I wonder if auto mechanics would still charge an arm and a leg under this model
.

S & F for an intriguing idea friend.



posted on Dec, 19 2012 @ 05:42 PM
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Time travel will make this form of currency obsolete or will seriously devalue it.



posted on Dec, 19 2012 @ 05:44 PM
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Its a cool alternative
There's an interesting movie In Time that deals with this theme.



posted on Dec, 19 2012 @ 05:47 PM
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reply to post by Severin
 


Yea I know ( with justin timberlake) but in that model when your time runs out your death. In this model you probably got the go to the social welfare time bank to upload some creds...
edit on 19-12-2012 by 0bserver1 because: (no reason given)



posted on Dec, 19 2012 @ 05:48 PM
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reply to post by 0bserver1
 


Lol... much the same thing i guess



posted on Dec, 19 2012 @ 05:50 PM
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reply to post by magickmaster
 


By when did we time travel...? And if we do , don't go back in time !



posted on Dec, 19 2012 @ 05:59 PM
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no system will work if you "force" people into it, even if it's a utopian dream, you still require people to do certain tasks to maintain it and make work.

will you think it's still utopian if you're knee deep in human waste for 12 hrs cleaning a septic tank.

and in return you got a ticket entitling you to 3 pieces of corn at the supermarket.

it's never the "inventors" of these utopian societies who are shovelling s**t at 4 in the morning.



posted on Dec, 19 2012 @ 06:06 PM
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reply to post by randomname
 


Well not if it pays more then a lawyer does..



posted on Dec, 19 2012 @ 06:33 PM
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reply to post by mcx1942
 


Well if there's a surgeon in willing to be paid by operation hours , I don't see why not?



posted on Dec, 19 2012 @ 06:45 PM
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Interesting concept ,but what of the people in prison with a thousand yard stare and all the time in the world?
Or the bank ceo who sits at a desk making 1000$ an hour. ?Tables will be turned. Time will be corrupted



posted on Dec, 19 2012 @ 07:08 PM
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reply to post by 12voltz
 





but what of the people in prison with a thousand yard stare and all the time in the world?


Well everything that has being traded in money can now be traded in time, so if they intensionally drop their soaps once and awhile, they to can earn some time credits to later spend again..


how would time be corrupted?
edit on 19-12-2012 by 0bserver1 because: (no reason given)





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