Local Exchange Trading Schemes are community-based mutual aid networks in which people exchange all kinds of goods and services with one another, without the need for money. They are an organised form of barter.

the acronym invented by Michael Linton for the local currency system he developed.

Local Exchange Trading Schemes link

Local Exchange Trading System Schemes which encourage and support the exchange of goods and services within a local economy, eg a housing estate, without using money. They allow people to use their skills to help others in their community and build up social contact. For more information see the LETSystems website at http:// www.gmlets.u-net.com