Comments on: Local Towns Making Their Own Currency (So The Weakonomist Does One Too)

By: Hank

Hank — Tue, 05 May 2009 23:28:05 +0000

Wow! I really like the RFID idea. With wide spread use you could actually track spending patterns and the true flow of money throughout a community from wage earner, to retailer, to vendor, back to wage earner. Hank’s last blog post..The Top 20 Best and Twenty Worst CEOs of All Time

By: Weekend Reading: Mini-Marathon Edition! | Man Vs. Debt

Weekend Reading: Mini-Marathon Edition! | Man Vs. Debt — Sat, 02 May 2009 11:04:12 +0000

[...] documented how their are several local communities that have created their own currencies. I had never heard of this before, but I think it’s [...]

By: Interesting Reads: May 2, 2009 | OneMint

Interesting Reads: May 2, 2009 | OneMint — Sat, 02 May 2009 08:09:59 +0000

[...] Local Towns Making Their Own Currency By [...]

By: SJ

SJ — Fri, 01 May 2009 04:26:01 +0000

I think I enjoyed the RFID scanner idea. A step towards complete digitalization of money transfers right? Tho I would wonder about said cost ... SJ’s last blog post..Succeeding after you graduate college

By: KingofthePaupers

KingofthePaupers — Fri, 01 May 2009 01:31:46 +0000

Jct: Best of all, when the local currency is pegged to the Time Standard of Money (how many dollars/hour child labor) Hours earned locally can be intertraded with other timebanks globally!
In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours.
U.N. Millennium Declaration UNILETS Resolution C6 to governments is for a time-based currency to restructure the global financial architecture.
See my banking systems engineering analysis at http://youtube.com/kingofthepaupers

By: Manshu

Manshu — Thu, 30 Apr 2009 22:34:11 +0000

You have put some good thought on this Go W!

Manshu’s last blog post..US 2009 Q1 GDP Numbers

By: Mike @ TheThriftyLife

Mike @ TheThriftyLife — Thu, 30 Apr 2009 16:58:33 +0000

As someone who is close to Pittsboro, NC - this was featured on our local news recently. The Plenty in Pittsboro, NC is going to be officially sponsored by a local bank there. As far as being backed currently, it's like buying a gift certificate that can be used at many local places. You purchase them for $9 and receive $10 worth of Plenties. Some companies are actually giving employees the option to be paid a percentage of their income in Plenties in their paychecks, but this would just be the equivalent of your company using post-tax earnings to automatically buy you gift certificates that you receive with the rest of your paycheck. It's a great concept and wonderful for the community to encourage patronage of local businesses and also benefits the buyer, since you're getting more for your money. It's like subway or toll tokens, you pay more ahead to receive a discount. You can't use the tokens anywhere else, but you still use the service - so why not get the discount and help provide a benefit by supporting the local community! Mike @ TheThriftyLife’s last blog post..Can Email Save You Money?

By: Baker @ ManVsDebt

Baker @ ManVsDebt — Thu, 30 Apr 2009 16:40:42 +0000

I don't know why for sure, but this stuff really seems awesome to me. I literally had no idea stuff like this existed until yesterday's post. It's one of those things that gets me super excited... like, "Awesome, I'm starting my own too," but then I realize that I'm not really willing to do it. Either way, I love hearing about it. Neat stuff. Baker @ ManVsDebt’s last blog post..April’s Budget Recap, Net Worth Update, & Future Battle Plans

By: Matt

Matt — Thu, 30 Apr 2009 13:33:15 +0000

Are local currencies ever backed by real money (gold and silver) or are they just backed by the US dollar (which is backed by what exactly?)

If you were to live and work in a community that uses their own currency, could you avoid federal (or even state) income taxes by being paid in the alternative currency?