"The cash, in truth, does not exist and never has existed. What we call "cash reserves" are simply bookkeeping credits entered upon the ledgers of the Federal Reserve Banks. These credits are created by the Federal Reserve Banks and then passed along through the banking system.

The Fed doesn't get money, it creates it.When the Federal Reserve writes a check for a government bond it does exactly what any bank does, it creates money, it created money purely and simply by writing a check. The Federal Reserve, in short, is a total money-making machine."

—Wright Patman




Who owns SpyCat?
SpycatXchange is a grassroots operation administered by Lauren Moore (www.spy-cat.com). It does not take any money from corporations or foundations, nor are there plans to in the future. The Community Exchange System software has been provided by SANE, a group out of South Africa that provides administrative support for many localized currencies all over the globe. These currencies are actually running on one main system, and can trade with one another.

Lauren Moore is simply an administrator of the group, and is committed to getting the system up and working. Although no one stands to profit from the spycatXchange directly, it can act as a vehicle for people to empower themselves and to start up big projects without venture capital. Again: SpycatXchange is NOT A CORPORATE ENTITY. You will not see ads popping up, and you will not have to pay to be on the exchange. Although SpyCat does collect a transaction tax of 2%, this goes into a pool that helps cover the administration costs. The administration account is transparent, so everyone can see where the "money" is going.

The main administrator and author of the code, Tim Jenkins, has been given a prestigious Ashoka Fellowship to run this system. He has started this from the ground up and is commited to helping each currency administrator develop their networks.

If you notice a problem in the system or would like to suggest an improvement, please get in touch with me, Lauren, at lauren@spy-cat.com or at 1.612.432.0545.