It seems that we in the Northern Hemisphere have much to learn from our cyberspace associates in the Southern Hemisphere. NotMoney got its beginnings from creative entrepreneurs in Costa Rica - Colombia - Ecuador - Uruguay and Venezuela whose mission is to "serve" without charging "usury."

NotMoney is the first international no-money net where any person and/or company can exchange every kind of Goods and Services, including vacations. You can also help several Non-governmental organizations, not with money but exchanging your own goods and services. If you own any Good or Service which you think someone may need, and you want other Goods and Services which you believe someone produces, you can get it through NotMoney without using any money at all.                                 
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Resumes of the principal press articles from the "Not Money" website: (from the 1990's)

El Diario de Caracas - January 23, 1995 - Caracas - Venezuela

Savers will pay with their own labor skill



It will be a sort of barter between two or more persons who wish to satisfy fitly their needs of services (medical, cultural, mechanical, and other services) exchanging with the offerer the service required by the buyer (and viceversa) without paying any money at all. It will be real through Interbancs Plan, which is going to have all the supplies and demands of services in a database. In that way it will be possible to rescue all the leisure hours from the people interested in be part of it.

Agrupación Pro Calidad de Vida will launch into the market an innovating system for buying services through the “Savings Bank of Future Work”.

Every body will deposit hours of work there. (Professionals, technicians, workers, students, housewives, etc) they will receive other required services, as a payment it will be a sort of barter, in which money stops being the exchanges mechanism for goods and services.

It is important to remark that this project is being developed since 1990, and it will be introduced to people through the international meeting “Creatividad 96”, it will take place from September 24th to 26th at the Teresa Carreño Theatre. The UNESCO, Central University of Venezuela, Carabobo University, Latin-American Parliament (Parlatino) have organized this event, among others.

n this sense, the director of this innovating project, Alberto L. E. Morónyacoel, offered to El Globo, the features of “Interbancs”.

To Overcome the Crisis

Morónyacoel explain that the project consist in the application of a series of not conventional systems and procedures that will permit Venezuelans overcome this economical crises in a very short term without using money.

This project will increase Venezuelans purchasing power, standard of living and, on the other hand it will diminish inflation.

Consequently they will participate in a System that will create thousands of jobs, of immediate complementary occupation, without using their own daily salaries or the national budgets.

It is important to remark that Cordiplan evaluated Interbancs project and its Minister Teodoro Petkoff, who considered it a very positive project. The project was immediately sent to President Rafael Caldera and to the Ministry of Family in order to evaluates its feasibility.

Besides, it was also presented to the UNESCO as a regional project with the support of Costa Rica, Colombia, and Ecuador to get financial assistance.

Mostly Unemployed People will be benefited

Director of Interbancs project refers that at a present time Venezuelan society is suffering a lot of economic deficiencies since 80 percent of Venezuelans spend 80 percent of their income to satisfy basic needs.

In fact, they have no money to satisfy other necessities so they must postpone them continuously. Morónyacoel explained that the structure of the Savings Bank of Future Work is created by forming a huge database.A person who wants to offer a service he wants to acquire, and that has already been registered in that database.

There is always someone who wants to offer his work and at the same time, another one who needs that service. However the relation does not concrete among them because they do not know each other, or also, because the “customer” does not have the money to accomplish the exchange. And it is a frequent obstacle in an economical crisis.

Those persons who have more leisure time (mainly unemployed or partly employed people) will receive the most benefits of this system.

Illustrative Example

The Director of the project offered an illustrative example of what may be done with Interbancs:

  • Let us see a dentist. He is able to occupy all his monthly working time. But in fact, he still has 20 leisure hours in which he may work. The problem is that the offer and demand market can not absorb those hours, so he may not work them.

Why? Even though there are possible users of those 20 hours, they do not have the money to pay them.

Meanwhile the dentist is misspending his time involuntarily, though it would offer him better purchasing power and standard of living.

How can we accomplish this exchange?

In this case, the dentist (to follow the previous example) would go to the Savings Bank of Future Work to make a deposit as he would do it in a conventional bank, but he would not deposit money, instead he would deposit future hours of his work.

The Bank, with the help of a consultant, will estimate those 20 hours of the dentist and will give him a savings book with a balance of one hundred thousand bolivars (for instance). The dentist’s deposit and other personal information about him will be registered in the database system of the bank. In the same way other professionals and technicians, such as medicine doctors, painters, cooks, typists etcetera will make their own deposits and they will also ask for someone else’s services as a payment for their deposit of hours of future work.

In other words, Morónyacoel explains, the bank becomes into thousands of future working hours, treasurer, with the same amount of savers who are eager for satisfying their exchange needs.

How to Use Deposits

The dentist (the hypothetical case we mentioned above) may make a withdrawal with his saving book, as he would do it in a commercial bank, but instead of money, he will receive the service he want directly.

Any of those services maybe English courses or car mechanics as well, which have already been deposited by other savers who wish to use their savings book.

The bank will select the professional who will teach the English course or will repair the car for the dentist through its database.If the amount of those services required are higher than the balance in his savings account, the Bank would ask him to deposit more hours of work. On the contrary, if the amount is lower than the one in his savings book, he may use the difference later or just accumulate it for the future.

The Bank may require the saver’s services, before, during or after he has made his own consumption.

Finally, Morónyacoel remarked that nowadays there are more than two thousand million leisure hours a year, in Venezuela, which mean about 2 thousand million dollars a year in total.

Tianguis Tialoc Magazine – March 10, 1998 – “La Otra Bolsa de Valores” , Mexico-México

From Caracas, Venezuela


Alberto Morónyacoel, Interser – Caracas

The idea is to show the world that there is another way of commercial relation among human beings, different from the one established by money. I firmly believe this is the beginning of the creation of a new Socioeconomic Paradigm in the 2000, which will open, for the common citizen, thousands of opportunities to help himself, help others and to give and receive solidarity.

I suggest you to think about the possibility of materializing a no money universal organization by which we can relate. We can bring together all these initiatives and projects and later create a certain kind of system, procedure or mechanism. Such a system will permit common people from any country (no matter their professions, social status or hours of work) offer their not utilized capacities, not only in his own country but also abroad.

The main consequence of this project will be the multi-reciprocal barter or exchange which can fulfilled through cybernetics or virtually, among people who live in different countries. The support of a very sophisticated computer program will be necessary in order to accomplish the intersection of thousands of offers and demands.

In a very short term it will be possible to see an Argentinean journalist offering his services to a Japane4se newspaper (offer) and then charge it (demand) through a holiday at an Uruguayan resort. Through this organization we can create a new micro-economic paradigm which permits to give and receive solidarity, to create a new extra-frontier concept of the working factor without using money. We will be able to see how someone else in India will solve the problem of an unemployed person in Montevideo and so on, multi-reciprocally.

In order to achieve this goal, there must be a certain kind of organization in every country, which should have the tools to let us relate ourselves by means of cybernetics. With the support of the dizzy cybernetics advance (Internet), it is not just a dream but a reality, which is round the corner.

From Venezuela we are introducing you this proposition, remembering you that we are exposing you just a starting point that may be modified partially or totally, according to your own opinion. It is as follows:

  1. To create a No-Money virtual interaction an organization which will be formed by Argentine, Spain, Holland, the USA, Mexico, Venezuela, Uruguay, Brazil, Chile and those countries that in the future would like to participate without any kind of conditions.
  2. The objective is to create an alternative complementary economy to the money one, which will open the opportunities to elevate the standard of living of a common citizen from any country without using money.
  3. A web page will be created in several languages. It will include the different experiences, achievements, and the objectives we want to fulfill so it can be seen not only by common persons, or local governments or international organizations as well. Simultaneously we will consider the means to reach those citizens who do not have a computer.
  4. Through Interser Project we have quantified the total Installed Idle Capacity (I.I.C.) per year which exists i9n Venezuela. This reckoning determined that exist approximately five billions leisure hours per year. These leisure hours belong to every kind of persons that is, professionals, technicians, housewives, retired people- unemployed, employed or partly employed. We also transformed those 5 billions hours into money...

    The result was twelve billion dollars, which are wasted every year without any body makes good use of them. All this calculus was made including only natural persons and no producers or juridical persons. This aspect was include, because i think that we should quantify, with certain accuracy, the installed Idle Capacity that exists universally in hours and dollars. This I.I.C. is not profited because of the non existed intermediary called money. And without it, millions of exchanges can not be accomplished. This calculus will also show both the micro and macro economic growth.

    Through a very superficial reckoning supported on some publications from Human Development of UNESCO, we have determined that more than 200 billions leisure hours per year may exist. They represent about 480 billions dollars. This figure is so huge because it gets lost in the leisureness every year, and no one makes good use of it, unless there is a mechanism, system or procedure, national or universal which makes them profitable and transforms then in a good of common well-being.

  5. Study the possibility of finding financial support through, public or/and private, national or multinational institutions, introducing us not as separate organisms but as a whole organization, which offers and alternative answer to idle, inflation and poverty. It is important to remark that leisure is not only found in developing countries but also industrialized countries as Italy, France, Germany, and etcetera, mainly among young people. We have also considered the leisureness projections that have been brought out by privatization and globalization.
  6. Show local, national and international government that for implementing this kind of mechanism that may fight against leisureness and unemployment, elevating millions of people standards of living, it will not be necessary money. The resources, they used to fight against unemployment, can be directed to another kind of social programs.

    You have the chance to modify or add any idea without limits of any kind. We are not trying to establish rules. We only want to create a new micro – economic paradigm of the 2000, horizontally and as transparent as possible. We want to gather in order to begin a road to create the new universal Not-Money economy.

Finally the question is:

  • What is the result of the transformation of thousands of million of leisure hours that exist in your country every year? And, what wold have been the micro and macro benefits that would have got the people, if it would have been created an organization which through multi-reciprocal exchanges would have transformed them into occupied hours?
  • The answer has a lot of edges: higher standard of living, less leisureness, more self-respect, more solidarity, less inflation, more healthy growth, healthy creation of wealth, less lack of safety, more social cover, more ecological relations, creation of millions of immediate complementary jobs, less poverty, etc.

I hope you will send your impressions soon.

Sincerely yours
Alberto Morónyacoel, March 30th, 1998
INTERSER Caracas – Venezuela e-mail: [email protected]

La Otra Bolsa de Valores publishes these extracts of Alberto Morónyacoel messages about alternative and complementary experiences in monetary and thanks your attention.

Interser “Savings Bank of Future Work” consists on the creation of a non-conventional bank. This bank, instead of managing money, will manage and attract leisure hours. The purpose is to transform them in “immediate complementary occupation”, in a rapid and direct way, without using money, but by multilateral compensated exchanges. The main concept of Interser Project is that “leisure time can be saved in order to be transformed and used by any other person’s occupation”.

“Trueque” Magazine – August, 1998 – Buenos Aires, Argentina


From Caracas, Venezuela

Dear friends from the Barter Global Net,

It is a great pleasure for me to communicate with you. Mainly because it is moving to discover that there is a big amount of persons in Argentine who believes there must be a complementary way to be related among human beings, independently from the exchange of goods and services through money.

Congratulations for that historical task which you are interpreting. In Venezuela we are developing a project called Savings Bank of Future Work, Interser. In my country there are approximately 5 billions leisure hours a year which mean 12 billion dollars.

This potential energy must be lead by a more human complementary economy as the emerging no-money economy, which elevates all people’s standard of living rapidly. This joint, which has been proposed by Interser and other banks which will exist in different countries in the nearest future, will permit the factor “work” to go through the frontiers with the help of Internet.

I believe that with you, all together, we can join our efforts to fill that emptiness with this kind of preposition. I personally think –as I commented with the friends from “Club del Trueque” from Uruguay-, that you, the Argentine people, are introducing a system that sooner or later will resemble Interser project so you can avoid all the obstacles we have found on the way.

If we organize, it will be possible to materialize the financing, through an international foundation or organism. That is why I formally propose you and the friends from Uruguay, Spain, Mexico, Chile, Brazil, The United States, France, Holland, etc., to create an international organization. It will materialize the idea of the No-money economy, because the problem of the social exclusion is critical not only in Latin America but also in many European countries.

My best wishes for you all.
Alberto L.E. Morónyacoel I
Interser Project Caracas – Venezuela


El Universal - March 21, 1999 - Caracas - Venezuela

Administering unemployment


By Ernesto Ecarri Hung

INTERSER PROJECT, sponsored by Agrupación Pro Calidad de Vida, pretends by means of a modern barter, to exchange from odontology services to have a car repaired without intervention of money. .

Caracas.Under an innovating scheme, it could be installed in Venezuela the first bank of exchanging services in the world in a few months. The project, called Interser and supported by Agrupación Pro Calidad de Vida, would solve the unemployment problem in a few months, and would generate a business volume of about 12 billion dollars per year. Interser is a conventional bank that instead of managing money, it will attract leisure hours in order to transform them in immediate complementary occupation. The bank will do it without using any money, but by multiple, compensated, and reciprocal exchanges.

Alberto Morónyacoel, who is the Director of the project, explains with an example how this bank works:: “Imagine a dentist who works at his own dental center; suppose that, because of a low demand of his services, this professional has twenty leisure hours as a monthly idle capacity.

The dentist would go to the Interser agency in order to deposit his twenty hours. When another member needed a dentist he would ask for this kind of professional to the bank, so Interser would refer the member to the dentist without any cost. “Of course”, Morónyacoel continues, “when the dentist needed a service, for instance, have his car repaired, he would ask Interser for a car mechanic and the bank would assign him the professional he needed. The dentist will not pay in cash because he has already given his equivalent services to other customers of the bank”.

Key Word: Confidence.

One of the procedures of the bank will be to estimate the working hours of the saver, according to his capacity and experience. The value of the hours will vary according to the different professions or trades. The cost of the hours of either an architect or a mason or a recently graduated medicine doctor, or another one, who has a post-graduated course, will not be the same.

“Thus -remarks Morónyacoel- the bank guarantees a fair deal among his savers’ exchanges.”

One of the doubts about the system has to do with the quality of services that will offer the required professions. For instance, what will happen if the dentist does not attend to the patient or does a poor work? To solve this problem, Interser has established a charge of 7% (in cash) of the hours the customer wants to deposit in his savings book. According to the estimating procedure (named above) the bank knows how much his deposit is, and how much he can consume.

So, the 7% charge will be used as an insurance to pay another professional that will substitute those who do not accomplish their duties. We have calculated in about 8% and 9% the level of non-fulfillment of subscribers. In the case of unemployed or partly employed persons, the procedure is the same but, for obvious reasons, they can make bigger deposits of their leisure hours and make a lot of work.

Do you think money can be eliminated with this system?

No. It would be impossible, because there will always be goods or services that can not be exchanged, like a house or a car. Nobody would invest them. However the owner of a supermarket can do deposit tuna cans and they would be estimated as well.


Agrupación Pro Calidad de Vida remarks that the problem of idle capacity in our country reaches alarming levels. The statistics given by the Central Office of Statistical and Data (in Spanish OCEI) show only a part of our reality, because under the employed title they consider everyone without distinguishing the amount of hours they work per week.

“No matter if they work one hour or one hundred hours per week, so the real idle capacity of the country can not be considered.”

Finally taking in consideration the information given by OCEI in 1997, Agrupación Pro Calidad de Vida estimates in 5,227,778,420 (Five billions, two hundred and twenty-seven millions, seven hundred and seventy-eight thousand, four hundred and twenty) the amount of leisure hours among the installed idle capacity in Venezuela.

Because of that we are sure that initiatives like Interser would have a guaranteed success. Similar experiences have been held in other countries. Morónyacoel names Argentine as an example. During the recession and the crisis in the middle of the present decade, several creative solutions arose to face idleness and shortage. One of them was “Club del Trueque”, which began in a small village, where because of the scarcity of current money the villagers began to exchange goods and services.

Some exchanged eggs for milk, some others pizzas for pork, so it began a system which today has a lot of members in that country. Agrupación Pro Calidad de Vida has another project called Virtual Bank where they wish to accomplish Interser process but in a net. Under this system –the representative of Pro Calidad de Vida remarks – leisure’s problems are not national but global.

In this bank, it will only be necessary to offer a service, to require another one that is of total interest for the customer in return. In the same way this ONG supports other programs, for instance a program against corruption Morónyacoel explained that Agrupación Pro Calidad de Vida was selected the Venezuelan Chapter by Transparency International. At the same time Pro Calidad de Vida holds a series of workshops called “Citizen Education Program” which shall offer to children and teenagers in school age, to teach them values according to the democracy principals.

A previous “Wonderful” experience supports the project.

In 1979 owners of “Hacienda Las Maravillas” -a Venezuelan builder company- noticed that they were not getting any profit from the six thousand hectares they had in Guárico State. Neither they had enough money to develop the needed infrastructure to make good use of the land. However they needed to contract professionals to make the projects: system of roads, the division into lots, electricity, recreational areas, planes, designs, just for mentioning some of the projects before building the real states.

Only after that they would be able to multiply the original value of the land. But the work of the professionals that “Hacienda Las Maravillas” needed, was more than enough for others (engineers and topographers), that is, the installed idle capacity. So the owners of the six thousands hectares looked the work of specialists up in the market who accepted land as a payment, it means money in square meters. According to their narration, there was a general acceptance from the market, so employed people, unemployed people, and partly employed people joined the program. Twenty years later such experience shows a diagnosis of the problem that kept “Las Maravillas” unproductive.

Because of the lack of money, there was a vicious circle, which was possible to break. It was broken by the combination of three isolated elements -that could not be transformed- idle lands, installed professional and technical capacity (without usage) and paralyzed business resources.

The result indicated that the mixture was right. The estimated result was 3,500 million bolivars. The value of 145 Km of system of roads, 5 thousand plots of 5 thousand square meters each one; 120 Km of aqueduct, and a dam of 600 thousand cubic meters, apart from buildings and services. MMR.


  • What is Interser?
    It is a bank where savers deposit leisure hours, instead of money. No matter their profession or task, or if they are employed or unemployed, or students, or housewives or retired people.
  • May I integrate with Interser?
    You and anyone, who produces a good or service that may be needed by another person, may integrate with Interser.
  • How can I do it?
    Go to Interser and open a savings account with those hours of your work, which you are not using at the moment. The bank will estimate those hours and will give you a savings book with your printed balance.
  • And then?
    Determine with your family, those necessities you have not been able to satisfy because you have not had enough money. Then go back to Interser and using your savings book you can withdraw the service you need: dental assistance, plumbing, accounting, or any other.
  • What about if the balance is not enough?
    Do not worry about it. Interser will ask you to deposit more leisure hours. In case your balance is higher than the transaction, you can use the surplus in a next exchange.
  • When may I consume more services?
    Immediately after your deposit. The withdrawal must be done within the next three months, because then the balance will be estimated again considering the inflation rate.
  • When will I pay the consumption?
    Before, during or after the consumption, but within three months term from the deposit date.
  • How will the bank finance itself? After estimating your services, Interser will require 7% of you deposit in cash for operating expenses and also to insurance possible non-fulfillment.
  • What services may I acquire? When you take part in Interser you may use any of the several goods and services which you had not been able to acquire before because of money. For instance, dentist, topographers, car mechanics, teachers, carpenter, gardeners, electricians, cooks, housewives. You can even go to the movies and later have dinner at a restaurant without giving one single bolívar. MMR.

Source: Interser explanatory booklet