Which is WE restaurant ring economics 1934 a created exchange circle in Switzerland, briefly as restaurant economics or which marks WE. Since 1936 subordinate the banking law, since 1992 also under the name we bank arising. The philosophy WE oriented itself at the free free of Silvio associates; its developing history is more near described in the article complementary currency.

The landlord express takers work beside Swiss Franconia with a Komplement%C3%A4rw%C3%A4hrung by transfer named WE. Which WE Franconias received the three-figure mnemonic code CHW to 2004 according to ISO 4217 in correspondence for national currency CHF (Swiss Franconia). In addition came which WE euro with the mnemonic code CHE. At loading or hotel entrances in Switzerland with the We Signet referred to the possibility of paying the achievements totally or partly in WE Franconias.

The we restaurant ring is subordinate to the Swiss banking law since 1936. Until he experienced 1952 a pioneer phase, in which load-carrying business concepts were developed. Between 1952 and 1998 he experienced a stormy growth with development of a branch system, however without important change at his clearing system. Starting from 1995 also cash businesses were taken up fully to the business activity, after they were only exceptional cases before. Since 1998 numerous conceptional and structural changes and an extension of the original enterprise concept took place.

1992 ago the restaurant ring was a pure cooperative. In that year a restructuring began to the we bank with the introduction of a cooperative capital of approximately 15 million Franconia and the expenditure of shares, which are acted at an we-internal stock exchange to the market value. The designation "„restaurant economics "“disappeared from the business documents. In the year 1998 official renaming took place in we bank. Except the head office in Basel six we branches exist distributed over whole Switzerland.

At the end of of 1997 amounted to the balance sheet total of the we bank 1 `063 million Franconia. The accounting assets of the participants in WE amounted to 866 million Franconia.

The we clearing system

The we clearing system functions as cashless money transfer among the landlord express takers. Assets and loads on the accounts of the participants are booked at the head office of the we bank in Basel. A cheque-like paper, the order for reservation, or the we payment light serve thereby as currencies. Additionally can be made with the we map pure we payments, combined we/cash payments and also pure cash payments.

Altogether participated 1999 distributed over 60 `000 small and central enterprises, over whole Switzerland and on all industries, at the we clearing. Each landlord express taker specifies his individual we acceptance set, which percentage, to which he wants to receive payments instead of in Franconias in WE. Officially WE a Franconia is equated.

For finding possible we business partners there are industry lists of participants, available in printed form, over videotex and as CD-ROM. In it all participants with a firm we acceptance set are specified. In addition annually five we sales fairs take place in Switzerland, at which the landlord express takers appear as exhibitors and as customers.

In a folder it means: The we system offers over the we clearing the possibility, more conversion and profit to its participants to obtain. This is possible, because we money in the participant circle represents bound purchasing power. The assets are spent alone in the circle of the landlord express takers, whereby a mutual consideration of the participants is obtained. We money does not carry interest as active money, because it is to be rapidly in circulation brought again and again. The additional conversion, which is obtained owing to the we system, covers not only we money, but also cash, since a part of the purchase is usually settled in national currency.

We creation of money

We assets kreditweise of the we bank created, whereby the applicant for the credit participant of the we bank pawns net assets, thus "„a security places "“, as he would likewise do it with a usual clearing bank.

The credits originate from direct, own creation of money of the we bank. The we bank has the same creation of money function as the Swiss central bank in the we system as central bank of Swiss Franconia currency. We assets do not develop usually against insert of Swiss Franconia. Openings of an account without credit for completing payments are possible purely, are however rarely stressed.

We credits are thus given we assets of the participants saved by the we bank neither from nor with central bank money. Something something similar as saving or other investments of funds in WE does not give it in the we system. We assets of the participants are not to the we bank thus as inserts for we credits at the disposal.

We assets therefore have no covering by Franconias! The credits are instead of its by rights of access on properties and real values which can be provided (e.g. Building) the we applicant for the credit secured, "„covered "“. From this reason usually also only independent entrepreneurs member can by the way become WE.

No credit and/or refinancing costs develops for the we bank from their creation of money. It must apply no interest for the assigned credits thus. Exactly for this reason it can make their credits available against particularly low interest rates. Herein also the substantial reason for the attraction of the we restaurant ring lies.

Although officially WE a Swiss Franconia is equated, which was in practice often evaluated and exchanged WE to clearly less than a Franconia. The we line forbade therefore 1973 to the participants the trade of WE against Franconias under hard penal provisions, in order to prevent a moving away of WE from the participant circle. This prohibition was however broken through again and again. The lower course of the we money in relation to Franconia is to be justified with a too high we money supply in relation to the quantity approximately WE of the tradable goods and services, because the independent creation of money of the we system not, as the creation of money of the central bank is aligned, to a firm price level in the recruiting realm and can therefore too much we money in circulation be brought.

Related links

• Website of the we bank
• | history of the we bank
• '' Alternatives to the globalization '' cooperative principle and complementary currency. In matters of time Nr.30, 9 August 2004
• '' Property money for small companies '' report in fire one on-line one, 6/2004

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