Tuesday, April 07, 2009

Communities print their own currency to keep cash flowing - USATODAY.com

Communities print their own currency to keep cash flowing - USATODAY.com: "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"

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What would happen if local HOA does the same thing and sets up a currency exchange market where private and public "community currencies" co-exist?

1 comment:

Beth said...

First, they would need to allow home-based businesses. :)(