Are the KISS <> coins legitimate?

The KISS <> coins will not be used until they have been legalized.

What does KISS stand for?

KISS comes from the acronym K.I.S.S. "Keep It Simple and Sustainable".

KISS expresses our desire to popularize fundamental money creation concepts in order to unite a community around a common project: Financing the ecological and societal transition without debt

"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it." (John K Galbraith)

The KISS <> coins in practice

Like traditional currency, the KISS <> coins are a medium of exchange that allows you to make account-to-account transactions. The movements are recorded in a secure computer database.

However, the creation of the KISS <> coin is not linked to debt. It is targeted money and created in regards to a common asset aiming to achieve ecological and societal transition.

In order to avoid speculation and to underline its international character, the value of the KISS <> coin is attached to the Special Drawing Right (basket of international currencies) via the KISSECOLOGY charter.

What is the value of KISS <> coins?

To give it an international dimension, the value of the KISS <> coin is attached to the value of a special drawing right (SDR). SDR refers to an international type of monetary reserve created by the International Monetary Fund (IMF). A KISS <> coin is therefore worth 1 SDR* = € 1.26 = $ 1.36 ... (23/04/2020).

The value of money depends on the trust and the size of a community.

For example: A €50 or $50 bill is just a piece of paper with ink. However, it has value because we all agree that it does. However, this money is no longer guaranteed by physical assets.

The KISS <> coins have value because they have the potential to finance our ecological and societal transition and are recognized as such by an international community.

What are the rules for creating KISS <> coins?

Firstly, our NGO refers to the study by the European Court of Auditors, which estimates the cost of the energy transition accross Europe between 2021 and 2030 at € 11,200 billion and so € 1,120 billion per year. Taking into account that 1 <> = 1 SDR (Special drawing right); 1,120,000,000,000 € / 340,000,000 inhabitants x 1.26 € / <> = 2.600 <> / inhabitants; The number of KISS <> coins per inhabitant is 2,600 <> in the first year. In addition, if a legalization of KISS <> coins occurs, the variables of this equation can be adjusted to take into account realities and constraints at the international level.

How are the KISS <> coins distributed?

Each country receives an amount proportional to its number of inhabitants. (See: FAQs – What are the rules for creating KISS <> coins?)

How to guarantee the traceability and transparency of the KISS <> coins?

Traceability is guaranteed by the closed nature (1) of the system.

All transactions are recorded in the database.

The database is transparent but transactions with the exception of government transactions are encrypted to guarantee individual freedoms and the confidentiality of all accounts.

(1) KISS <> coins are in circulation in our database and cannot be converted into other currencies.

How are you funded?

The co-founders put a seed amount to cover the initial costs: status, website, initial marketing costs, ... Currently, the NGO does not receive any grants other than donations. In addition, KISSECOLOGY communicates openly on all funds collected and their use.

What do you mean by ecological and societal transition?

As a basis for discussion, we refer to the 17 objectives defined by the UNEP (United Nations Environment Program).

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What do we mean by different levels of power?

All democratic bodies at national, regional and local level.

The legalization and therefore the putting into circulation of KISS <> coins can only be validated by the authorities in charge of these matters (national or even supranational level). Nevertheless, we believe that it is useful to be able to rely on local authorities close to the citizens in order to help us achieve our goals.

What is targeted money creation?

Targeted monetary creation is used for a well-defined action. The emission of KISS <> coins is only carried out in return for action responding to the objective of transforming human activity so that it becomes sustainable.

What about inflation if we increase the money supply?

Monetary growth does not necessarily cause inflation*. Otherwise, private and central banks should stop now.

It is incorrect to claim that an increase in the money supply necessarily and automatically leads to an uncontrollable inflation. It all depends on the destination of the additional money supply. If the additional money supply from credit essentially benefits an underused sector, there is no reason why prices should go up.**

Many economists now agree on this observation, which is very different from Milton Friedman's initial conception that inflation and money supply growth were correlated.

* John T. Harvey, Professor of Economics at Texas Christian University Forbes article

** A. Granjean; N. Dufrène - "une monnaie écologique pour sauver la planète"

How do banks create money?

Many authors have explained money creation, and you can find many explanatory sources on youtube.

We chose this video for its educational aspect:

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Can we create a currency without debt?

Contrary to popular belief, yes. It's technically possible and accessible. The real debate is elsewhere and takes place on the political level. Alain Granjean and Nicolas Dufrene brilliantly details the fundamental fears linked to this idea in their book (see references): "In reality, the risk for those who want to prevent this type of monetary financing is that it would result from a political decision, which would create a breach in the" free "functioning of the market, which is intolerable in their eyes. It is therefore an ideological question more than an economic or technical one. For our part, we are convinced that to respond to a major and collective challenge, a political, and therefore collective, response is necessary. The invisible hand of the market cannot not replace the visible hand of the community, namely, the public power. In addition, if ever inflationary risks appeared and this posed a serious problem for the economy (and not only for the wealthiest rentiers who have the no longer fear inflation), there would only be to reduce or stop the free money injection program. Between deflation and the lack of economic prospects and inflation, this is the first risk that menace today, and the second one is the easiest to avoid. So in this area we can draw inspiration from a sort of Pascalian party: if we are right, we have everything to gain; and if we are wrong, so little to lose." (A. Granjean, N. Dufrene: an ecological currency to save the planet) - Original text in french ​ We must get out of this conception of the "free" functioning of the market by restoring power to the citizen and by allowing a monetary creation without debt, targeted, legitimate and manage as a common good for humanity. This is the will of our NGO KISSECOLOGY.

Money: Origin and Value

Until recently, gold and silver were the primary forms of payment. Ultimately, instead of transporting the precious metal and exchanging it for goods or services, it appeared more convenient to deposit it in a bank and use "bills of exchange" for buying and selling. Anyone could come to the bank and receive the precious metal in exchange for these bills of exchange. Currency was born when the paper claim was separated from the metal. Currency has no material value (a 50-euro note does not cost 50 euros to produce); it has value only that by which a group of individuals collectively decides to assign to it. ​ Money works because people believe in it. ​ In practice: ​ Fiat money (coins and paper money) is created by national central banks and regulated by central banks. It represents only about 5% of the money in circulation in our world economy. ​ Scriptural money is created by private commercial banks "out of thin air" by means of a simple accounting book entry. This money created represents 95% of the money in circulation (bank accounts, credit cards, etc.). ​ ​So, when banks make loans to individuals, companies and governments, they create money out of nothing in exchange for debt, guarantees and of course, interest. And so, this currency is created with an enrichment objective. The interests of finance actors taking de facto precedence over those of citizens.