Wednesday, August 10, 2011
Local currencies growing
Several cities in North Carolina are developing local 'scrip' for use solely among local businesses.
Scrip has been tried many times for purely localistic motivations, with little success. The present effort, called the Greensboro Currency Project, is gaining momentum. Local scrip was common in the '30s depression as well, when banks were untrustworthy. In this century the mistrust belongs to the whole Federal monstrosity, not to banks per se.
Good report from WXII TV in Charlotte. Fifty businesses in Greensboro have signed on, with an explicit understanding that the local currency will be more likely to survive when the dollar dissolves. ¶ 1:59 AM
Scrip has been tried many times for purely localistic motivations, with little success. The present effort, called the Greensboro Currency Project, is gaining momentum. Local scrip was common in the '30s depression as well, when banks were untrustworthy. In this century the mistrust belongs to the whole Federal monstrosity, not to banks per se.
Good report from WXII TV in Charlotte. Fifty businesses in Greensboro have signed on, with an explicit understanding that the local currency will be more likely to survive when the dollar dissolves. ¶ 1:59 AM
