Alternative marketing thinking

iCONTRACT

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.

Advertisements

Single Post Navigation

2 thoughts on “Print Your Money. Locally.

  1. These are becoming very popular. In the depression there were over 1200 operating in the US. I know friends rolling out new ones in Virginia and I believe Washington State. We are trying to keep track of them on a new blog, http://www.mainstreetcash.org along with several communities online like Ning.
    Mark

  2. Pingback: more local currencies making comebacks « Alternative marketing thinking

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: