Uploaded February 2023 | Updated September 2026, 1 week ago
Here I’m talking with Hans-Florian Hoyer – a retired banker and academic who specialises in the history of credit clearing – especially credit clearing at medieval trade fairs. Credit clearing is a crucial part of building a new commons economy, because it reduces the need for money and banks in communities, and it helps small businesses survive through difficult times – which there seem to be a lot of nowadays.
Transcript of interview, with links to organisations and information mentioned in the video: lowimpact.org/posts/a-brief-history-of-credit-clearing-with-hans-florian-hoyer.
We’re interviewing key players in the new economy, to: a) bring their work to a wider audience b) try to find ways to co-ordinate their efforts c) stimulate debate d) help to build the new economy.
Lowimpact.org: lowimpact.org
Mutual Credit Services: https://www.mutualcredit.services/
Here’s what we mean by new economy: https://www.lowimpact.org/categories/...
Introduction to credit clearing: lowimpact.org/categories/credit-clearing
Highlights:
• At medieval trade fairs, merchants discovered trading loops by standing shoulder-to-shoulder to each other. The right shoulder represented ‘I owe this person’ and the left shoulder represented ‘this person owes me’. If physical circles were formed, then debt could be cleared by subtracting the smallest figure from all debts.
• The story is that groups of walking clerks met in coffee shops in London and came up with the idea of clearing between banks, to save their time and shoe leather. Apparently, the CEOs of banks liked their idea and built a clearing house in the city.
• If clearing is good enough for the banks, it’s good enough for us. It’s time for civil society to take advantage of this tool. There’s no licensing or regulations to comply with because no money is involved – only information.
#creditclearing #medievaltimes #smallbusiness
Here I’m talking with Hans-Florian Hoyer – a retired banker and academic who specialises in the history of credit clearing – especially credit clearing at medieval trade fairs. Credit clearing is a crucial part of building a new commons economy, because it reduces the need for money and banks in communities, and it helps small businesses survive through difficult times – which there seem to be a lot of nowadays.
Transcript of interview, with links to organisations and information mentioned in the video: lowimpact.org/posts/a-brief-history-of-credit-clearing-with-hans-florian-hoyer.
We’re interviewing key players in the new economy, to: a) bring their work to a wider audience b) try to find ways to co-ordinate their efforts c) stimulate debate d) help to build the new economy.
Lowimpact.org: lowimpact.org
Mutual Credit Services: https://www.mutualcredit.services/
Here’s what we mean by new economy: https://www.lowimpact.org/categories/...
Introduction to credit clearing: lowimpact.org/categories/credit-clearing
Highlights:
• At medieval trade fairs, merchants discovered trading loops by standing shoulder-to-shoulder to each other. The right shoulder represented ‘I owe this person’ and the left shoulder represented ‘this person owes me’. If physical circles were formed, then debt could be cleared by subtracting the smallest figure from all debts.
• The story is that groups of walking clerks met in coffee shops in London and came up with the idea of clearing between banks, to save their time and shoe leather. Apparently, the CEOs of banks liked their idea and built a clearing house in the city.
• If clearing is good enough for the banks, it’s good enough for us. It’s time for civil society to take advantage of this tool. There’s no licensing or regulations to comply with because no money is involved – only information.
#creditclearing #medievaltimes #smallbusiness
