What Is The Talent Network?

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Perhaps the best way to envision The Talent Network (TTN) is first to picture a vast ocean replete with life and activity both on the part of the mundane “fishy” element and also on the part of the predatory shark-ish types. Now picture, within that vast ocean, a safety bubble, also teaming with life and activity, but without the forbidding spectre of predators.

The Talent Network is that bubble -- an economy of exchange within the larger context of world economy but since it is localized and independent, it remains free from the predatory forces driving world markets.

TTN is comprised of diverse and productive participants, whom -- for the sake of clarity -- we will call “producers” [of goods and services] all of whom conduct business within geographic proximity.

Let’s call one producer “Cafe A-Go-Go,”

another “Farmer Joe,”

and another “Fresh Basket Super-Mart.”

Since these three producers are each participants in TTN, when they need goods or services they turn to fellow businesses within the network. So when, for example, Fresh Basket needs about $100 worth of organic produce, they purchase it from Farmer Joe for 100T (Talents). In the Talent Networking bookkeeping website (which will be operable once the system is launched), Fresh Basket registers a deficit of -100T while Farmer Joe registers a surplus +100T. Fresh Basket can incur this deficit without worry about accruing interest debt, while Farmer Joe understands that his surplus will be readily used when the time comes for him to purchase -- say -- organic coffee from Cafe A-Go-Go. Now, on TTN bookkeeping site, Farmer Joe’s +100T becomes neutralized with a balance of 0, while CA-G-G registers a surplus + 100T with which CA-G-G now purchases 100T worth of food supplies from Fresh Basket, neutralizing to 0 FB’s -100T (incurred from the purchase from Farmer Joe).

And on it goes. Goods and services are exchanged with the network by willing participants whose businesses vacillate between (+) and (-) balances without fear of defaulting or racking up onerous interest payments.

What About the World of Dollars?
If consumers (as opposed to "producers") want to join the network, they can buy Talents at the TTN website where Talents (worth about a dollar in stores) can be purchased for no more than $0.95. As for businesses that may incur an excess of Talents and want to off-load them for dollars, once the system is in place they will be able to sell them on the same web site, and thus convert Talents to dollars as needed or if they so desire.

This is how the exchange for dollars works for businesses: Let’s say Fresh Basket -- being a more formidable business entity than Farmer Joe and Cafe A-GoGo -- incurs an excess of Talents and needs dollars to pay bills and do business outside TTN. Fresh Basket can go to TTN website and exchange Talents for dollars at $.95 / $1.00.

You’re wondering: What, then, is the advantage for Fresh Basket to participate in The Talent Network? There are two.

First, doing business within TTN means Fresh Basket can purchase goods on credit without having to pay interest, which in itself more than compensates for the nickel lost on the dollar. Second, once the network is up and functioning, the website will maintain a directory of participating businesses, which amounts to free advertising and a means to bringing in new customers (who are looking to do business with others in TTN). In sum, participating businesses derive the benefit of interest-free borrowing and seamless  and efficient buying and selling, while also enjoying free advertising on the Talent Network website.

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Anthony Migchels explains this principle, which is called Mutual Credit,  in more depth here.