Micro Currencies?

Discussion in 'Economy' started by Richard-H, Jul 15, 2010.

  1. Richard-H
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    Richard-H Gold Member

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    I heard a report today about the fact that several German regions are issuing their own 'Micro Currencies'.

    According to he report, this promotes the local economy by keeping the currency local.

    It also said that one key factor is that this currency is constantly and purposefully being devalued as it ages (i.e. individual notes are dated and they are devalued against the Euro as they age).

    This promotes people to spend the currency quickly after they recieve it.

    Now, I thought this was interesting:

    First, because it's a currency that is constantly effectly causing inflation - each note buys less as time goes on.

    Also, I'd be interested in know who exactly is issuing this currency and how is it being backed?

    Anybody know anything about it?
     
  2. Baruch Menachem
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    Baruch Menachem '

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    I wouldn't take one. Money with an expiration date..
     
  3. sparky
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    sparky VIP Member

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  4. Richard-H
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    Richard-H Gold Member

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    I thinktaht they said that you could pay 60% of the difference to bring it back to it's original value...a new stamp or something.

    I know it sounds weird, but they also say it seems to be working very well.
     
  5. sparky
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    sparky VIP Member

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