Hi,
I'm in Switzerland and just learnt about the WIR.
I read a bit and watched some videos and what I get out of it:
1 Wir is 1 CHF indeed.
In times of crisis and decreased money supply of CHF, WIR is still available and companies can exchange their WIR notes.
Transaction costs are reduced and do not suffer from an exponential fee system encouraging the velocity of money and exchange of goods and services.
The focus is within the Swiss economy and at some level, will be exchanged among a group of trusting members regardless of the exchange rate of CHF vs. foreign money. Not completely of course, but the use of WIR helps to stabilise the economy as a whole and indirectly affects the stability of the Swiss Franc.
Being a relatively small group (>60K members) does instill a sense of a group willing to help each other out.
Goods can be paid part in CHF and part in WIR. Mortgages can be partly taken out in WIR if the constructor or third party accepts it; rates seem to be fixed at 1%.
How the Money supply of WIR is changed, introduced; I do not know. Through mortgages? and the % charged becomes a profit to the bank which then gets redistributed to its members?
Overall, it is closely tied to the Swiss franc and makes it vulnerable to sabotage by these traitors.
It does help to bring balance and stability by being extremely focused on small enterprises, fosters collaboration and supports locally produced goods and services. Members have a share in the Bank and participate in the profits. Fees are taken on the receiving end of a transaction for 1%. It would seem thus that these fees generated can re-enter the economy through the notes held by its members.
Maybe something can be applied to bitcoin here. The exchanges that will help people buy and sell bitcoins charging say a 1% fee can have funds/liquidity contributed by many members who then get to share the profits proportionally. These exchanges will be decentralized and across all existing currencies.
I would love to start a Swiss franc one
