Name: FM2 Meeting Summary: The next FM2 meeting will be on Saturday 21st October at 3pm, at the Olive Grove. Description: AGENDA

1. The focus should be on trade in our local community, balanced trade whereby we all buy and sell, arriving at the end of each month with a similar amount in our account,

2. Produce list of what each of us can offer for trade, goods and services,

3. Only through regular trade can we get full Monnaie Libre membership and become co-creators of G1s,

4. Full membership of Monnaie Libre is dependent on actively trading and strict adherence to the principles of the web of trust. A translated reply just a few weeks ago, from one of the full members I met at the Gmarche06..."Hello, I conciliate myself to the license to certify. I will therefore wait until we know each other better to certify you. I will be at the Gmarche of Pierlas this weekend. If you go, we will be able to discuss it,

. Start the search for a venue for regular FM2 in the Nervia valley, private land owned by someone in our group, easy access,

6. Find someone with a shop, factory or private address which could be used by everyone in our community needing a delivery address for parcels,

7. Organise a group of us to go to the next Gmarche06 and sell our 'stuff' using their currency valuation, this will also enable us to work towards gaining full memberships,

8. Consider and discuss an enduring currency valuation strategy for our community, to facilitate trade between non-members and new members... non-members would trade with other non-members according to the valuation of 1 spud equals 1 euro, whereas every transaction with a full member is at the rate of 1 G1 equals 1 euro,

9. Q&A session regarding the points below and anything else needing clarification.

We have discussed and I believe clearly described our aims in our FM2 'info pages'. Our weakness now is simply a lack of trade in our community.

SEL del TORAGGIO - explained

a. SEL is the French acronym for LETS (Local Exchange Trade System). The website of the SEL de Toraggio, along with it's exchange tokens called 'olives', are based on the Community Forge platform which allows individual exchange groups to create their own website and exchange tokens,

b. CommunityForge distributes free and open source software to manage SELs (Local Exchange Systems), Time Banks and complementary currencies and provides hosted and unhosted sites. Based in France, founded by Matthew Slater (UK) and Tim Anderson (CH),

c. 1 olive is valued at 1 minute of time/labour.

d. Everyone effectively starts with zero olives but can make purchases by creating a negative balance in their account,

e. Negative accounts are necessary for the system to work, in fact it's how they 'create' the tokens of exchange,

f. The system ensures that no one can have a balance of less than minus 1000 or greater than 3000 (50 hours),

g. At any time in the system, the sum of the negative accounts should be compensated by an equivalent sum of positive accounts, i.e. sum of negative account balances plus sum of positive account balances should equal zero,

h. SEL olives exchange tokens are fine for the exchange of produce, low value goods and small jobs but are not well suited to support the growth of a true parallel economy,

i. With SEL olives in an exchange system where for example, 50% are active buyers and sellers and the other half only buy, the trading community will soon arrive at the point where 50% of the group have all the tokens whilst the other half has none, this is not good for the growth and prosperity of the trading community,

j. With Monnaie Libre in a Free Money Market, everyone receives a universal dividend each month which means everyone has 'money' to spend and the community grows, those who actively buy and sell will obviously prosper and accumulate greater revenues whereas those who just buy will at least be able to buy the basics each month, this is a healthy and fully embracing trading community,

k. It is recommended that we use both SEL and FM to create a community for all of us. We can then all end up using what works best for each of us.

Visit http://fm2.21-dc.com for full details about our Free Money Market.