A Local Currency?

[JWFITZ]

I imagine a local currency would be subject to taxes in the same manner everyone dutifully pays taxes on the "points" they receive from the grocery store, or their "air line miles," both forms of currency and income.

The most important aspect of a local currency is that wealth generated within the community stays in the community. If I build a chicken coop and get paid in local script--the employer is assured that their money stays here, and they're actually to some degree enriched for the building of the coop. This may well be interesting to them if they want to sell eggs at some point. When you pay in mainstream currencies, you have no such guarantee. In fact, if you pay in the US dollar you know that a good percentage of it will go to support policies that do not have yours, or Hawaii's, best interests at heart. The personal choice to use, at least in some part, a local currency, is a bone fide offer of real faith in a local community.

As well, local community currency is inherently non-inflationary in structure. One might find that aspect interesting also.

[Bob Orts]

Question, how does one get this "local script" to pay others?

quote:

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Originally posted by JWFITZ

If I build a chicken coop and get paid in local script--the employer is assured that their money stays here

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If I was building a house and wanted to use this system, wouldn't I have to BUY the script somewhere? Wouldn't that require holding the underlying value up with something of equal value such as US currency?

[Jon]

I can print some up for you...


They who would give up an essential liberty for temporary security, deserve neither liberty or security
Benjamin Franklin

[JWFITZ]

Jon, you ought to get a job at the fed. They're looking for folks like you.


I'll post a couple of examples of how stuff like this is funded. There are many examples with many different intents, and depending on what the intent of the currency founds is--there are different ways of going about it.

Which, of course, is key to the discussion--what is the intent? From my perspective it comes down to one thing. I'd like to see wealth created on the island to stay on the island. This enriches us all. I don't mind others bringing wealth here--but it is obviously in all our best interests to have it stay.

Here is a start:

http://en.wikipedia.org/wiki/Local_currency

http://www.ithacahours.org/

http://www.smallisbeautiful.org/local_currencies.html

This especially, as it shows a very favorable way of funding the system--in essence, bonds.

http://www.smallisbeautiful.org/publicat...rency.html

[EightFingers]

Absolutely not! Who's gonna back it up? Determine its worth? What will the exchange rate be? Who determines THAT?

[WASailorGirl]

I'd be interested.

Here is another group headquartered in the Pacific Northwest.

www.fourthcornerexchange.com

[JWFITZ]

Who does any of that for the cash in your pocket?


Of course participation is not and never would be compulsory. Only desirable.

[JWFITZ]

Thanks WAGIRL--there's 2 of us. 8 more to go.

[Jon]

The intent is to make the guy/guys that setup the system as much real money as they can get....

if you really want to do this, just take the Dollars we have now, set set value of everything you wish to buy or sell at a fixed amount, then only the people in the coop get to buy or sell at that price.





They who would give up an essential liberty for temporary security, deserve neither liberty or security
Benjamin Franklin

[Hotzcatz]

All money is merely an illusion of wealth. Folks believe it has value therefor it does.

I don't think Jon wants to play. Can I swap chickens for local currency? It is a lot easier holding Hawaii fiat in one's pocket instead of a chicken.

I suppose if it is all digital and basically an account system, then counterfitting wouldn't be a problem.

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"I like yard sales," he said. "All true survivalists like yard sales."
Kurt Wilson