EAST has been set up by a team of locals who believe there is a lot of untapped potential in our community. EAST is built on strong and sustainable economic principles. In conjunction with conventional money, EAST uses a complimentary currency based not on debt, but on the resources locally available. This system is based on a tried and tested model, with hundreds of other similar systems in NZ and around the world.
EAST supports people taking responsibility for their own livelihood. Being able to freely advertise your services locally ensures that everyone can participate actively in the local economy. The offerings directory provides an even playing field for businesses to advertise their services. Because it is free, success is based on the merit of the idea, not on the force of the advertising.
Businesses and individuals waste a massive amount of resources. EAST offers a way of advertising (and therefore redistributing) unneeded resources/product. This benefits the economy and our environment.
Money exists principally (for most of us) as a tool to facilitate trade amongst people. By offering more than one tool to achieve this we make the system as fluid as is can be.
Money As A Tool, and Money As A Resource. EAST follows the LETS model, which is designed to do one job very well; to facilitate trade amongst people. National currencies are designed to fill a large number of roles, but they cannot do everything with the same efficiency. Having two complementary currencies working side by side is a safe way to operate, as they each have different strengths.
EAST's currency system (and supply of money) is regulated by local demand instead of global markets and interest rates. The money comes into existence when a trade happens, (as opposed to the when a loan is created), and is not subject to inflation or deflation. There is no interest component of east. Does it make sense at a local level to stop trading just because money becomes hard to get?
We are a non profit community organisation. We gratefully accept koha to help cover our running costs. This can include money, east money, time, or goods or services for fundraising. Thank you for your support!
Here is our Kiwibank Account if you require it: Account Name:EAST Number: 38-9012-0834054-00 Kiwibank