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The Vermont Currency Commons, VCC is a coalition that is working to establish a state wide publicly controlled money system that is managed by the citizens of Vermont for the purpose of supporting the critical transition phase toward sustainable local economies.

Recognizing that diversity encourages resiliency in the natural world and that currency systems ultimately operate under natural laws, VCC is seeking to implement the foundational changes necessary to establish both stability and diversity in the Green Mountain economic ecology. VCC is a movement made up of people drawn together around a shared vision that represents an emerging awareness of the need to develop economic models that are based upon interdependence and cooperation. By engaging new currency models that reflect the values of generosity and abundance we are provided with opportunities for developing local resources, skills and jobs, all vital components of economic self-determination.

The rising tide of awareness that has contributed to the exponential growth of the local foods movement has proven that major policy changes are not driven by who we vote for every four years, but by what we purchase everyday. The power of purchase is not to be underestimated within the context of a larger agenda of decentralization.

It is important to recognize however that as important as is the power of purchase to influence policy change, there exists another more fundamental influence that runs parallel to this. Buying local does help strengthen the community fabric and it is an important first step in building decentralized models in the new economy, but the real capacity to sustain this movement toward localization will be supported not so much by what we buy, but what we buy it with.

VCC is a proposal to create a sovereign credit money system in Vermont that parallels the US dollar. In the transition toward public money control, currency legally becomes classified as a public resource bringing it under the Doctrine of Public Trust and the stewardship of a Currency Commons Charter. Public Trust Doctrine has a legal history spanning over fifteen centuries, found greater recognition in the Magna Carta and was preserved in a number of our states constitutions. The basic tenet of this doctrine is that certain natural resources are of such great importance to the public well being that they must be managed for the public good.

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  1. Sovereign credit money is a public resource managed for the public good and the stewardship of the Commons.

  2. The Currency Commons through legislation embodied as a public trust holds the rights and responsibilities of managing all public credit money.

  3. Political rights of self-determination are founded upon economic rights of a fair currency system, full employment and a liveable wage all based upon control of money and production.

  4. The obligations of stewardship of the Commons are exercised principally through public works projects funded with public credit money.

  5. Farming as stewardship is publicly funded to build soil, recycle carbon, maintain watersheds, pasture lands and forest lands.

  6. Long term food security programs are implemented through a Transition Farms plan combined with internship based learning.

  7. A solar economy funded through sovereign credit money is the foundation for the beginning of the transition from the oil age to the solar age.

  8. Sovereign credit money works best through cooperation and mutual aid fostering strong social bonds and a place based identity both necessary for the well being of a society and its future generations.

  9. This Charter grants perpetuities. Natural Rights to self-determination are self-evident, ungranted and always affirmed as part of our planetary birth rights.

Breaking The Money Matrix With Human Scale Economies

One of the more astute writers on the money issue, E.C. Riegel writing in Private Enterprise Money in 1944 stated that, “without reservation I assert that the whole fate of society hinges upon the one question of whether it can at this critical juncture gain mastery through the mastery of money and thus coordinate purchasing power with producing power. The issue is—money or your life”. Riegel didn’t mince any words here, but stated an inescapable truth about money and power that has become the overshadowing zeitgeist of our time. We are at a ‘critical juncture’, a phase shift into an unexplored paradigm where we are struggling to develop a new economic ethos that reflects a greater movement toward decentralization, self-reliance and co-governance. … Continue reading