LETS is not:
- A barter system. Because not just 2 people are involved. The more people the more flexible LETS is.
- A charity or welfare. Because it builds self esteem & self reliance through community cooperative effort.
- A pyramid system. Because it is locally controlled and no Federal $ (except basic costs) are spent.
- A replacement for the Federal economy. Because it works with and along side it. It assists community enterprise and corrects weakness of economy.
- A tax evasion scheme. Because you must pay tax if required on all items that you trade.
- A get rich quick scheme. But with a line of credit & local employment the whole community prospers.