Should Cities Have Their Own Currency?

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Permalink Reply by elsaphant on June 20, 2007 at 9:04am

There is a reason that the U.S. has uniform currency. During the Articles Of Confederation, each state/region had their own currency and obviously that didn't work out well as the Articles were replaced rather quickly by the Constitution. Sure, it's only one town that wants to change their currency, but if other areas caught on to the idea and made their own currency, it would be so confusing and unnecessary. THere's a reason that so many European countries adopted the Euro and it is to avoid situations like this.

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Permalink Reply by Joshua on June 20, 2007 at 11:40am

Good point but? But the currency translates into real dollars. So its supposed to help local shops instead of going into mega corporate stores. Many times the money doesn't go back into the town but instead to executives and share holders who do not live anywhere near the area or care for that towns best interest

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Permalink Reply by Cole Roberts on June 20, 2007 at 12:13pm

I agree with elsa in saying that "..but if other areas caught on to the idea and made their own currency, it would be so confusing and unnecessary." [end] Not to mention time consuming. Also I don't see the real point of this. If you can convince me otherwise or show me the pro's to this I am only seeing a lot of problems with this idea.

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Permalink Reply by Joshua on June 20, 2007 at 5:53pm

Well it's all about a way for small busineses to compete with national chains. It seems like it might be a good way to keep small store owners from folding under big corporate competition as well as keeping small towns from being dominated by big chains. "U.S. law prevents states from issuing their own currency but allows private groups to print paper scrip, though not coins. As long as you don't turn out quarters and you don't turn out something that looks like the U.S. dollar, it's legal," So why not allow it?

"THIS JUST IN......" in trying to find pro's I stumbled across a bigger story. It seems that many believe that Federal Reserve is a "Scam" on US Citizens.... it seems although it is called the Federal Reserve it is actually a private company.

Ok Ok.. Honest Im not trying to be an alarmist! I like my Bank and those rectangle plastic things that fit in my wallet

check the links
Federal Reserve fraud?


Or this video I found on the topic hosted by the actor from Quantum Leap! ;)

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Permalink Reply by Cole Roberts on June 20, 2007 at 8:01pm

Incredibly good. Very interesting. A must see.

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Permalink Reply by Rick Rey on June 23, 2007 at 1:45pm

AL!!

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Permalink Reply by Joshua on June 21, 2007 at 8:41am

I wouldn't say its simple? why are countries ok but cities not? After all there are at least 10 cities where using local dollars is in use and working quite well.. imagine possibly taking out a loan without interest. Thats a big what if but it could be an advantage.

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Permalink Reply by Cole Roberts on June 21, 2007 at 9:32am

I thought the movie was very interesting. But I still do not see the real point in this. Josh you keep talking about an advantage but have to actually show any real advantages, why would people want to switch. Like Frank say "It's like they speak English in New York but Hindi in Queens" this new money system would be terribly confusing and would in most aspects be counter productive.

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Permalink Reply by Joshua on June 21, 2007 at 12:19pm

Ok.. It think there is a misunderstanding. It's not about "switching" or that I think cities should totally change their currency and forget American dollars. It's just that I found the idea of consumers being able to use Berkshare Dollars as "in the original article" to be used along with American Dollars to help local mom and pop stores. In the end It all translates back into real American dollars anyway but the town gets the benefits.

Here is an excerpt from the Berkshire Dollars website on how it can help the local community.

How do BerkShares benefit the local economy?

Everyone benefits from using BerkShares. Consumers benefit from receving a 10% discount on purchases. Businesses benefit from increased patronage. Local non-profit organizations can also benefit by purchasing BerkShares at the 10% discount rate and selling them at full face value to their supporters.

It will take citizens working in their own communities, region by region, to create the kind of systemic change that will lead to sustainable economic practices—practices that foster ecologically responsible production of goods and a more equitable distribution of wealth. Local currencies are a tool to bring about such change. BerkShares are about building community while building the local economy.

Click here for Berkshare Dollars website for more info on them

Does that help at all?

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Permalink Reply by Steve Woolf on June 21, 2007 at 4:38pm

This is a great discussion!

Seems to me like having a specialized currency to encourage citizens to spend money on their local businesses instead of corporate giants is fine as long as the government itself doesn't endorse it or get involved. So it's basically a promotional tool or marketing tool.

I think history has demonstrated that we have a healthier economy with a single currency. Even Europe went to a single currency a few years ago, spanning over a dozen countries. It makes doing business easier across borders, no?

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Permalink Reply by Brandon Longstreth on June 21, 2007 at 7:13pm

this is moving backwards. we need to stop being so counter productive and broaden our horizons... one world currency time! let's bring on the pocky-lips!


(that's my reverse sarcasm way of saying it's a dumb idea)

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Permalink Reply by Jeff on June 23, 2007 at 11:26am

This is probably one of the worst ideas out. It will definitely work as a ploy to get tourist but come on. We complain when web browsers don't follow standard or companies come up with proprietary data formats. Imagine this on a city wide scale?

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