Much appears to be wrong with our banking system today. Money is created by creating debt, it accumulates and aggregates in hugely unequal shares and doesn’t actually go towards financing useful activities and production.

I felt a new leaf needed to be turned for banks and so I decided to create my own in Ealing where I live.

I wanted my neighbours to benefit as well as myself and so I restrict deposits to my closest neighbours. I invest the deposits locally, developing these investments into derivatives and in turn, re-investing these. The fruits of these investments I then return to my depositors as dividends and interest.

The ‘currency’ invested is grass cuttings, which would otherwise likely leave the locality and be invested offshore(ish) or wasted. I invest them into my compost heaps and then invest the resultant compost into the soil of my allotment plot. Dividends do vary and returns go up as well as down, but include a wide range of beneficial fruit & veg.

Grassy Bank depository

Grass currency

An added bonus is that the newly minted dividends (which can actually include mint) cannot be accumulated for long and need to be re-invested as fine food. Thus wealth inequality is avoided. However, wealth is created and apparent in terms of connection, gratitude, relationships, reciprocity, general good humour, and much more.

Customer dividendThe dividend

Although I have no plans for expansion, I believe that branches of the Grassy Bank could easily appear on every street corner with the added boon that many more people could become useful self-styled bankers.

Trevor Sharman
Governor of the Bank of Ealing