Credit Berwick

Back to the Future

Chris Cook

Berwick-upon-Tweed 23rd March 2017

Berwick Resources - Land

Berwick Resources - Energy

Berwick Resources - People

Independence/Resilience by mobilising Berwick resources

Credit

Prepay Credit- promise returnable in payment for value to be provided - original form of UK sovereign funding - “Stock”- people-based credits - goods and services- asset-based credits - land use (rentals) & energy use

Trust- no right to enforce delivery- credits/promises require trust in the promissor

Guarantee Society

Mutual assurance of risk - “Trust Framework”

Global - Protection & Indemnity (P&I) Clubs of shipowners have

mutually assured shipping risks for 140 years

Europe- Guarantee Societies of SMEs have mutually assured bank

loans to members for decades

Berwick Guarantee Society

Procurement – SMEs mutually assure performance risk to participate in major contracts (eg public sector)

Cost Sharing – SMEs pool individual purchasing power but delegate purchasing to experts eg energy, telecoms, water

Credit Clearing – mutual guarantee of Berwick trade (wholesale) credit & possibly even customer (retail) credit

Berwick Stock Exchange

Berwick investment in prepay credits land/buildings rentals agricultural production

Berwick investment in prepay credits: MegaWatts – energy production (at wholesale

price) Nega Watts – energy savings (at retail price)

Berwick Credit – the Community is the Currency