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Struggling US towns print their own currency
telegraph. ^
| 08 Apr 2009
| Tom Leonard in New York
Posted on 04/08/2009 10:14:57 PM PDT by JoeProBono
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To: JoeProBono
I still dont get how this is even legal....
2
posted on
04/08/2009 10:15:50 PM PDT
by
Crim
To: JoeProBono
If they would back the currency with Gold, it would really take off.
To: Crim
Depression Era Script
4
posted on
04/08/2009 10:19:42 PM PDT
by
JoeProBono
(A closed mouth gathers no feet)
To: JoeProBono
Whatever can be used in exchange for goods and services.
5
posted on
04/08/2009 10:19:49 PM PDT
by
Semper Mark
(No Quarter Given.)
To: Crim
I get a book of local scrips every month. I think most people call them coupons.
To: Crim
Essentially they are like gift certificates for local stores, just like a mall would sell gift cards for use in stores inside the mall.
7
posted on
04/08/2009 10:22:18 PM PDT
by
KarlInOhio
(No free man bows to a foreign king.)
To: Crim
“I still dont get how this is even legal....”
yeah, what happened to the Fed’s monopoly power?
8
posted on
04/08/2009 10:22:36 PM PDT
by
Tublecane
To: JoeProBono
you mean.. if the town wants to help itself, it can print its own currency to insure the commerce stays within the community?
whoa... you mean offshoring all our production/manufacturing actually hurts the economy? whoa... whowouldathunkit ?!
9
posted on
04/08/2009 10:23:28 PM PDT
by
sten
To: Crim
They got the idea from
Ron Paul, the
FBI didn't like it too much, either.
This isn't real money, it's welfare, of a sort, given out to spend locally. And it's not widespread as the article indicates.
There is no such thing as a free ride. This WILL come back to bite them in the arse, mark my words. Then, who'll pick up the tab for their insanity?
You and I and all of the others in this Country who actually pay taxes.
10
posted on
04/08/2009 10:24:49 PM PDT
by
papasmurf
(Trow da' bum out!)
To: JoeProBono
I don’t get why this is a good idea to anyone but local businesses.
To: JoeProBono
Odd - I do not recall this being used when Bush was President.
12
posted on
04/08/2009 10:26:18 PM PDT
by
Frantzie
(Boycott GE - they own NBC, MSNBC, CNBC & Universal. Boycott Disney - they own ABC)
To: JoeProBono
Communities across America are bypassing the dollar and creating their own currencies...
If one reads the article, the above assertion is found to be complete and utter journalistic bovine excrement. They give three isolated examples that amount to the issuance of redeemable coupons, acceptable at certain business, and little different legally than the things you can clip from the Sunday paper. If you "print your own money" you go to federal prison. Period.
13
posted on
04/08/2009 10:27:17 PM PDT
by
SpaceBar
To: sten
“you mean.. if the town wants to help itself, it can print its own currency to insure the commerce stays within the community?
whoa... you mean offshoring all our production/manufacturing actually hurts the economy? whoa... whowouldathunkit ?!”
Yeah, why don’t we all just retreat into self-sufficient local societies? Who needs the rest of the state/country/world? Division of labor? Comparative advantage? What’r those?
To: Crim
Scrip was used by the City of Ceveland among many others to pay employees when the City was broke. They basically were promissory notes that local merchants were pressured to accept in lieu of cash, much the same as accepting a check would be today. The use of scrip has a long history in the US including issuance by the military and by private firms such as mining companies, to be used to buy merchandise at "the company store."
Food stamps are scrip, for that matter.
To: Markos33
As long as the tax man gets his share in dollars...
16
posted on
04/08/2009 10:31:14 PM PDT
by
DB
To: SpaceBar; All
17
posted on
04/08/2009 10:38:48 PM PDT
by
JoeProBono
(A closed mouth gathers no feet)
To: SpaceBar
As long as the script you print does not resemble real currency or says it is legal tender you can print all the script you want. It is no different than using coupon books.
To: Steel Bill
Not a bad idea. Maybe we should bring back wooden nickles—or better yet silver dollars (but now a days they would be the size of a dime). In the Civil War they were called shin plasters.
To: Forward the Light Brigade
While the idea of script is a good but one that is only a band aid on a bigger problem. I live way out in the country and we tend to do a lot of bartering around here. The good thing about bartering is that unlike the script thing the tax man don’t get no cut.
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