Print Your Money. Locally.
As the recession grows and people start hoarding cash, many local communities in the US are preparing to print their own money. In a fascinating article, that made us relook at the cash economy, Newsweek magazine tells us that many small American communities are finding ways to print their own. In Milwakee for instance, in Riverwest—a progressive enclave, has started making their own money that keeps the local economy buzzing, whatever happens to the rest of the country. Dozens of such currencies flourished during the great depression. Communities print what looks like ordinary bills with serial numbers, anti-counterfeiting details and images of local landmarks instead of presidential portraits. Residents benefit through an exchange system: 10 traditional dollars, for instance, nets them $20 worth of local currency. And when businesses agree to value the funny money like real greenbacks, they also get a free stack to kick-start spending. It’s all perfectly legal (except for coins) as long as it’s not for profit and the new money doesn’t resemble the real thing. More in Newsweek.