It would be interesting if more LETS began appearing throughout the world as a result of this crisis. Truth unfolds in time through a communal process.
LETS involve monetising credit (which is what Banks do as well), and rely upon trust. That's fine among communities where trust is normal, but once the "commercial" world is involved, trust goes out of the window.
As Comrade Stalin said:
"Trust: but Validate". "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
