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James Quilligan:

"The Commons Reserve Currency would function through the creation of Co-Credit — a participatory unit of value used in trading, investment and decision-making. As co-credits are lost or gained in each transaction, the deficit or surplus would be accounted with reference to the sustainability rate — a real-time measure reflecting the capacity of the global commons to provide and sustain the well-being of present and future generations. At any given moment, if the sustainability rate is low, the co-credit is worth less relative to its value in an exchange, which may cause a buyer to spend less, or perhaps not spend or to postpone spending; and if the sustainability rate is higher, the co-credit will be worth more in the exchange, which may convince the buyer to spend more. So, through co-credit exchange among buyers and sellers, community members would determine the value of their own production based on the capacity of the global commons to support the natural and social quality of life. Each use of a co-credit (whether the sustainability rate is low or high) is literally a vote for the longevity, regeneration and diversity of the planet’s common goods, enabling human civilization to protect its principal and withdraw from the commons a smaller portion of its resources. Since the commons reserve system guarantees a stable and lasting source of global capital, the development of co-credit exchange would eliminate the need for banks, financial institutions, government-issued currency, and a debt-based money system in which the continual payment of interest on loans requires unsustainable levels of production and consumption to monetize the existing debt." (