Thousands of people in an American community have stopped using US dollars

[halfpint]

This is interesting people using thier own currencies

Within two years residents should be able to take out loans in BerkShares - an important indicator of the US currency's health.

http://www.bbc.co.uk/news/world-us-canada-14814834


Also related : We can print our own currencies over here in the uk as long as we dont pass it off as sterling as ther is no law against doing it .

http://news.bbc.co.uk/1/hi/magazine/8245276.stm

[BlackCrayon]

lol, that means nothing. its backed by US dollars...these guys are just trying to support their local community.

[Supz]

There is also some guy in Italy in a small town doing the same thing. Read the article yesterday. Forgot where I read the article. Will try to find it.

[core_dump]

Interesting read. And although these are currently tied to the US dollar it says there are plans to decouple it.

Now what I'd like to know is: What crime would you be committing if you counterfeited this monopoly money? Besides fraud and other catchalls. Seems to me one would get off a lot easier, not to mention likely having an easier time of printing (and passing) the stuff.

[halfpint]

Currently, 6,000 Totnes pounds are in circulation from an estimated local economy of £60m.

It is, stresses Mr Brangwyn, a radical experiment, still in its very early stages, but he can see a day when England has 2,000 local currencies.

Other towns joining the experiment, started by environmental group Transition Network, are Lewes in East Sussex and Stroud in Gloucestershire which introduced the Stroud Pound this week.

Maybe this is what the future of currencies will be like ... who knows

[My Pimp]

Disneyland uses their own currency, too. So millions of tourists do not use dollars to pay for meals and goods.

[Brujah]

It isn't really the currency as they could use the U.S. dollar and affect the same results. It reminds them to keep their local economy stimulated by spending locally, by using their local currency.

[BIGTYMER]

I have some old chuckie cheese coins??

[core_dump]

I have some old chuckie cheese coins??

Take em to the adult arcade. They work. Err that's what I heard.

[Kenny B!]

Reminds me of arcades that only take tokens and not quarters, great business idea so people are left with a few here and there that never get used. Just like gift cards where I believe I read 25% never get used, it's money for nothing for the merchant.

[potter]

It isn't really the currency as they could use the U.S. dollar and affect the same results. It reminds them to keep their local economy stimulated by spending locally, by using their local currency.

Exactly. It's not a currency. It's a simple marketing tool to remind people "Don't shop at Walmart, go to Mark's store down the street".

[Sly]

Scrip cash is pretty common.

[SmokeyTheBear]

lots of places in usa do this..

heres one in humboldt county california

http://www.humboldtexchange.org/

[scarlettcontent]

interesting read!

[blackmonsters]

I used subway tokens when I lived in NY.

[JP-pornshooter]

this is how Brazil fixed its economy not too long ago.
since their real currency had a huge inflation problem due to no confidence by the population, they invented a new currency, called it URV (unit real value).
All prices and wages were listed in the new "fake" currency and the actual currency the "cruzeiro" would be fluctuating. Within long confidence was built in the new currency and the old currency was completely retired.

[L-Pink]

It isn't really the currency as they could use the U.S. dollar and affect the same results. It reminds them to keep their local economy stimulated by spending locally, by using their local currency.

Good point. Communities, just like countries can have negative trade balances. This is an attempt to keep money in the community not wire transferred out daily by walmart and other big chains.

.

[JamesGw]

this is how Brazil fixed its economy not too long ago.
since their real currency had a huge inflation problem due to no confidence by the population, they invented a new currency, called it URV (unit real value).
All prices and wages were listed in the new "fake" currency and the actual currency the "cruzeiro" would be fluctuating. Within long confidence was built in the new currency and the old currency was completely retired.

I didn't know that. Pretty interesting.

[CyberHustler]

I used subway tokens when I lived in NY.

I don't think we've used tokens here for at least 10 years... musta been a long while ago you lived here lol.

[JP-pornshooter]

just read the full article.
it is a great way of circumventing the greatest of all evil; the banks.
but unfortunately it has poor trading qualities for goods or services outside of that small community.
but imagine if they took it off the dollar and linked to gold or maple syrup, pretty quick would their currency be valued higher than US greenbacks.

[Si]

Best be careful how this works and who controls it.

Never forget what happened to miners in the past who were getting paid in a specific currency and being forced to buy from the shops the same people paying them owned.

They paid them in a local currency and the only places they could spend this currency was in the shops etc owned by the people who were paying them.

Full control of the people.

[DWB]

You guys do what you want, I'm going to keep mining BitCoins.

;-)