You've heard of Oxfam. Well this is Oxcred

Oxcred is a scheme in Oxford (hence the name) for a mutual credit scheme. I googled it and they thought I wanted OFSTED! Does any teacher really want OFSTED?

•    The idea is to create a social economy, one freed from the control of the banks, the speculators and the megacorporations.
•    Oxcred will seek to encourage community, co-operation and mutualism.
•    It will seek to encourage local trade, production and consumption of locally produced goods.
•    This social economy will be aided by the creation of a new currency in Oxford called the oxcred.
•    This currency will be issued by and under under the democratic control of its members.

It is an indication of the extent to which people distrust the banks that a scheme like Oxcred is being proposed. In the absence of a mass party representing working people it makes sense to take measures of self-defence like mutual credit even if the banks will do all in their power to subvert it if it becomes a threat to them. Remember how the building societies were hijacked by profiteers with only Nationwide surviving the onslaught.

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