General Informations on the MLC
Desertification of small shops, relocation, unemployment, or still loss of social links, exchanges it maybe a way to regain control the economy and to make it more human. Indeed, the local currency allows to build and to protect the integrity of a territory and to open to the others by exchanging its wealth without putting itself in danger. The purpose is not to compete with the national currency but to create a complementary currency which can mitigate the deficiencies of the current monetary system become uncontrollable, in this time of economic crises.
Technical point of vue
So, once the organized currency, the private individuals can buy purchase vouchers in local currency (1€ = 1 local monetary unit). These vouchers are accepted by the professionals members. Euros converted in local currency constitute a guarantee fund placed in an ethical bank to support projects joining in mind of the charter. So, the local economy is revitalized, the social links rebuilted and the evolution of favored consciousness.
From a technical point of view, local currencies are at first paper currencies, the value of which is fixed to parity with the national currency and the convertibility of which is checked. The monetary emission is covered by an equivalent reserve in national currency put down on an account by the broadcasting association. The entrance, by conversion of national currency in local currency, is possible and sometimes favored by an improved rate (for example, 21 in local currency for 20 in national currency). The exit, by reconversion of local currency in national currency, is not always accepted; when it is possible, penalties of exit try to limit the risks of mass resale of the internal currency.