Communities print their own currency to keep cash flowing

[Angel Heart]

Communities print their own currency to keep cash flowing - USATODAY.com

Communities print their own currency to keep cash flowing
By Marisol Bello, USA TODAY
A small but growing number of cash-strapped communities are printing their own money.
Borrowing from a Depression-era idea, they are aiming to help consumers make ends meet and support struggling local businesses.

The systems generally work like this: Businesses and individuals form a network to print currency. Shoppers buy it at a discount — say, 95 cents for $1 value — and spend the full value at stores that accept the currency.

Workers with dwindling wages are paying for groceries, yoga classes and fuel with Detroit Cheers, Ithaca Hours in New York, Plenty in North Carolina or BerkShares in Massachusetts.

Ed Collom, a University of Southern Maine sociologist who has studied local currencies, says they encourage people to buy locally. Merchants, hurting because customers have cut back on spending, benefit as consumers spend the local cash.

More...

 

[p kirkes]

For those interested here is a link to a local currency FAQ from the UK. Seems to have application to American cities/communities.

www.localcurrency.org.uk/htm/faq.html

Regards,

 

[editec]

Communities print their own currency to keep cash flowing - USATODAY.com

Communities print their own currency to keep cash flowing
By Marisol Bello, USA TODAY
A small but growing number of cash-strapped communities are printing their own money.
Borrowing from a Depression-era idea, they are aiming to help consumers make ends meet and support struggling local businesses.

The systems generally work like this: Businesses and individuals form a network to print currency. Shoppers buy it at a discount — say, 95 cents for $1 value — and spend the full value at stores that accept the currency.

Workers with dwindling wages are paying for groceries, yoga classes and fuel with Detroit Cheers, Ithaca Hours in New York, Plenty in North Carolina or BerkShares in Massachusetts.

Ed Collom, a University of Southern Maine sociologist who has studied local currencies, says they encourage people to buy locally. Merchants, hurting because customers have cut back on spending, benefit as consumers spend the local cash.

More...

They're paying for groceries with local currencies?

I rather doubt that.

How does the grocer pay for his shipments?

With local currency?

It's a swell idea but it won't work.

 

[oreo]

Communities print their own currency to keep cash flowing - USATODAY.com

Communities print their own currency to keep cash flowing
By Marisol Bello, USA TODAY
A small but growing number of cash-strapped communities are printing their own money.
Borrowing from a Depression-era idea, they are aiming to help consumers make ends meet and support struggling local businesses.

The systems generally work like this: Businesses and individuals form a network to print currency. Shoppers buy it at a discount — say, 95 cents for $1 value — and spend the full value at stores that accept the currency.

Workers with dwindling wages are paying for groceries, yoga classes and fuel with Detroit Cheers, Ithaca Hours in New York, Plenty in North Carolina or BerkShares in Massachusetts.

Ed Collom, a University of Southern Maine sociologist who has studied local currencies, says they encourage people to buy locally. Merchants, hurting because customers have cut back on spending, benefit as consumers spend the local cash.

More...

They're paying for groceries with local currencies?

I rather doubt that.

How does the grocer pay for his shipments?

With local currency?

It's a swell idea but it won't work.

It does work--this happened in the depression of the 1930's, in fact the Mexican peso was tradeable currency along our southern borders. Not only that but a lot of bartering went on. You could take your chickens to the store, they would give you a receipt I.E. (money) to buy things you needed.

It's just kind of hard to believe that some towns are in this bad of shape right now. Hopefully things turn for the better & soon.