New Bay Of Islands Dollar Ready To Go

Supporters of a local currency scheme are ramping up their efforts to boost the use of a Bay of Islands dollar.

The Bay of Islands Community Exchange is asking people to use a computerised barter system to pay for goods and services this month as the exchange prepares to launch a Bay dollar on July 1.

Exchange spokesman Geoff Waterhouse says the current New Zealand money system is based on debt and sinking.

A Bay of Islands dollar (BOIDOL) offers an interest-free complementary currency that benefits local people and businesses, he says.

“It is money of the people, by the people, for the people, as opposed to the New Zealand dollar, which is debt of the bankers, by the bankers, for the bankers.”

He encourages exchange members to use online (cashless) BOIDOLs to pay for goods and services in June as a practice run for the introduction of five and ten BOIDOL notes next month.

“The more participants the better, so that more trading can be done with local businesses to help them stay in business.”

He invites others who support the idea of a local currency to join the exchange via its website where members register goods and services they want or can offer.

“Every new member account starts at zero and can go to $250 BOIDOLs credit or debit.

“No interest is paid on credit balances and no interest is charged on debit balances.”

People keen to know more about the Bay of Islands Community Exchange can phone Geoff Waterhouse on (09) 402-8031.


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