Massive “stimulus package” provided via social media
A full 99 % of the world’s population lives in a bubble of scarcity – even poverty – yet the world’s financial systems focus virtually all their efforts on supporting the 1% who need it least. The Safety Currency, an initiative by the GiGRUSH.org community, was created in response to worldwide protest against the financial scarcity that is fostered by the wealthiest 1%, but adversely affects the lives of the vast majority of the world’s population. According to SafetyCurrency.org’s Alex K. De Backer, “The Safety Currency is a new initiative whose aim is to restore a state of fairness and balance by creating a global, people-powered currency designed to return wealth and prosperity back to its users.”
De Backer says that the concept behind creating a complementary currency is very simple. “As a group of people, we make a conscious choice to support a certain financial system, usually by default,” he explains. “If a significant number of people choose to support a new system that promises to provide its users with increased buying power and prosperity, the new system becomes fully viable.
The Safety Currency also offers a potential solution for the financial meltdown that has been building for decades – and that continues to build – but, stresses De Backer, it will only work if users take action to protect themselves before the meltdown really starts. Inasmuch as the meltdown will primarily affect those who participate in the existing, default financial system rather than a system that is independent of the larger system’s machinations, users of Safety Dollars should find themselves shielded from many of the “aftershocks.” They will still be able to exchange their Safety Dollars, even if the traditional banking system is frozen. “Depending on the connections a user has, he or she should achieve a higher degree of financial security on the Safety Currency account,” says De Backer.
Recognizing the fact that a currency is only as viable if it is widely used, the founders of Safety Currency have taken a unique, limited-time approach to expanding the popularity of the initiative, by depositing 200 Safety Dollars into the Safety Currency account of every person who signs on via Facebook. They will also deposit an additional 200 Safety Dollars in the original participant’s Safety Currency account for each Facebook friend that also signs up. All users need to do is to sign-up to the app and let their Facebook friends know about it, then check to see how many of their friends subsequently sign up. The founders hope that by providing first users with such an attractive stimulus, the enthusiasm for the new Safety Currency will spread quickly, and its viability will increase exponentially.
To simplify the use of this new currency – not convertible to national currency-, one Safety Dollar will have a community value equivalent to one ‘conventional, national Dollar’. The same principle applies for the Safety Euro and Safety Pound, inasmuch as each unit of Safety Currency (Safety Euro, Safety Pound) will arbitrarily be valued by and for the community the same as the appropriate unit of currency presently in use.
In the initial phase of implementation, consumers and merchants can start executing transactions in Safety Currency via their online accounts. As implementation becomes more widespread, participants will be able to make payments in local shops more easily than with a credit card via a mobile app. An added benefit will be the absence of transaction fees such as those applied to every credit and debit card transaction. This alone will save merchants and customers between 2% and 5% on every transaction, be it a purchase of goods or a withdrawal of funds.
“To easily spend Safety Currency,” explains De Backer, “it’s essential that account holders ‘make the click’ to treat Safety Currency the same as they would treat any other currency. When paying for goods or services, the Safety Currency account holder needs to ask the merchant whether she or he can pay with Safety Currency, just as one might ask whether one can pay with cash or credit card.
“But I can’t stress enough that the ultimate success of the currency lies with the community. The more people who ‘make the click’, and the more people who find inventive ways to utilize the currency’s buying power, the more it will circulate, be used, and be accepted, thus increasing demand.” It all comes down to trust in a currency by a large group of people.
De Backer says that the Safety Dollar couldn’t come at a more critical time, as worldwide financial systems are failing, and the existing values of our currencies are decreasing on a daily basis. He quotes several experts the world over, including Willem Butler at Citigroup, who said, “Time is running out fast. I think we have maybe a few months – it could be weeks, it could be days – before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy, which would be a financial catastrophe dragging the European banking system and North America with it.”
Dan Akerson of General Motors said, “The ’08 recession, which was a credit bubble that manifested itself primarily through the real estate market, that was a serious stress….This is much more serious!” Paul Hickey of Bespoke Investment Group declared, “More and more, we are hearing anecdotal comments from individuals and professionals that this is the most difficult environment they have ever experienced.” And Jim Reid of Deutsche Bank, commenting on German Prime Minister Angel Merkel’s stance on the Euro, noted, “”If you don’t think Merkel’s tone will change, then our investment advice is to dig a hole in the ground and hide.”
And that is just the tip of the iceberg when it comes to global financial doomsayers.
The Safety Currency aims at protecting users from the global financial crisis by providing them with greater – and more stable – buying power, and by forming a community whose incentive is to work together to create and sustain a more universal state of prosperity.
De Backer notes, “While the 150 billion dollar ‘stimulus package’ sounds momentous, it is just the seed of something potentially paradigm-changing on a global scale. In future phases, many innovative tools currently under consideration will be implemented to maximize the ease of use and security of the Safety Currency.”