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Communities printing own cash...

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Communities printing own cash... Empty Communities printing own cash...

Post by Ich bin Ala-awkbarph Tue Apr 07, 2009 12:35 pm

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.

Who should be on the currency?
Ich bin Ala-awkbarph
Ich bin Ala-awkbarph

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Communities printing own cash... Empty Re: Communities printing own cash...

Post by SheikBen Tue Apr 07, 2009 7:52 pm

Ithaca Dollars have been in use for quite some time, and I like the idea.

I don't think it will do too awful much to stimulate a city's economy, but it's nice to encourage "buying local."

As for whose face should be on the currency, it should be mine, with red and blue markings, with the word "FEAR" underneath it.

SheikBen
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