Neighborhoods printing their own money

// added December 05, 2008 // 6 comments //
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AwesomeJosh

more from News:

http://www.chicagotribune.com/business/chi-talk_moneydec03,0,2902061....

Residents from the Milwaukee neighborhoods of Riverwest and East Side are scheduled to meet Wednesday to discuss printing their own money. The idea is that the local cash could be used at neighborhood stores and businesses, thus encouraging local spending. The result, supporters hope, would be a bustling local economy, even as the rest of the nation deals with a recession.

"You have all these people who have local currency, and they're going to spend it at local stores," said Sura Faraj, a community organizer who is helping spearhead the plan. "They can't spend it at the Wal-Mart or the Home Depot, but they can spend it at their local hardware store or their local grocery store."

Incentives could be used to entice consumers into using the new money. For example, perhaps they could trade $100 U.S. for $110 local, essentially netting them a 10 percent discount at participating stores.


Neat idea, but I wonder if the local money can be used for everything local, like prostitutes or drugs. That would definitely boost the local economy...
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    News,   Money
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6 comments // Neighborhoods printing their own money

  • Alanisnotcool
    • 0
      Alanisnotcool  

    • money is pointless paper. imagine if money did not exist and everyone worked together to substain life, and used natural resources wisely. most humans are too egotistical to have the right mindset for that kind of society

    • 1 year ago
  • Nancyf
  • Nancyf
    • 0
      Nancyf  

    • Interesting concept, not sure of the legality of it either, but wouldn't it make more sense to keep ur regular money in your own community? Instead of buying off the internet or the other side of town, or another town completely?

    • 1 year ago
  • AndreaKnoll
  • Setsfilia
    • 0
      Setsfilia  

    • OK, I'm totally pulling this WAY out from the back of my memory, so I make no claims to accuracy...but wasn't printing money by any person/group/etc other than the U.S. Treasury outlawed when we went to a nationalized monetary system? I vaguely remember something about that from a long-ago U.S. History course.

      Or maybe it's too early and I should drink more coffee.

    • 1 year ago
  • hyperfocus
    • 0
      hyperfocus  

    • Oh Yeah, this will fix the problem. What makes anyone think this would work any better than Federal printed money? More money printed with no value other than what you say. We need to go back to gold/silver standards.

      Why don't they just go back to using the barter system....

    • 1 year ago

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