This document proposes using local resources in Berwick-upon-Tweed to establish independent financing systems. It suggests creating a Berwick Guarantee Society to mutually assure risks for small businesses, and a Berwick Stock Exchange for residents to invest in prepaid credits for local land, energy production and savings. Establishing these systems would mobilize Berwick's resources and people to independently fund the community through credit and trust-based guarantees rather than relying solely on external sources of capital.

1. Credit Berwick
Back to the Future
Chris Cook
Berwick-upon-Tweed 23rd
March 2017

2. Berwick Resources - Land

3. Berwick Resources - Energy

4. Berwick Resources - People

5. Independence/Resilience by mobilising Berwick resources

6. 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

7. 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

8. 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

9. 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)

10. Berwick Credit – the Community is the Currency