Barter systems are the original form of trade between people and communities. They have probably been running for thousands of years in many parts of the world.

 

The LETS system was ‘invented’ by Michael Linton in Ottowa, Canada in the 1980’s.The first groups were set up in Australia in the late 1980’s in Maleny, Queensland, Murwillunbah and in several places in new South Wales. The system has spread throughout Australia and is also available to people on all the Continents except the Arctic! There are thousands of groups in operation.

 

 In 1994 the largest group in the World was in the Blue Mountains with more than 2,000 members trading over $B40,000 per month.

 

For more of the big picture, click  on this link - Wikipedia.