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So, this sounds like a great idea, right? The people of our city are unemployed, leading to less cash and less spending -- so let's print our own money! As those gentlemen in the now-defunct Guinness ads shrieked: Brilliant! In Detroit, a group of businesses are now accepting what is called Detroit Cheer. With this local currency you can buy a pizza, receive some electrical services, and day care for your pooch. The Cheer can also be exchanged for cash at local bars. Sounds like it would be illegal, right? Well, the article notes that it isn't -- as long as the printed currency doesn't look too much like the dollar it is perfectly legal. I don't think anyone is going to confuse the Detroit Cheer with the American Dollar.
Nor do I think the dollar will be confused with the North Folk Share from North Folk, CA; the Plenty from Piedmont, NC; the soon-to-be-launched Brooklyn Torch; or South Bend, IN's future currency, the MAC. This is crazy, right? I mean, what good is printing its own money going to do for a city's economy? Actually, there is a valid argument. Communities printing their own money is no different than the Treasury printing money to throw at failed banks. What happens if the American dollar continues to lose value? Perhaps these money printers are on to something -- because when the rest of America is looking for some sort of money to take the place of the dollar, these groups will be spending their Cheer or MACs happily.
Of course, this scenario is only valid if there is a Dollar Armageddon. Not only would dogs and cats be living together; but entrepreneurial burghs may have found themselves a way to survive in a post-apocalyptic financial world. Now, if you will excuse me, I am off to print some FightBucks, which have the same value as a Stanley Nickel -- but it is hard to tell because it is like comparing unicorns and leprechauns.
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Reader Comments (Page 1 of 1)
2-16-2010 @ 6:17PM
Dan Barnett said...
If I remember correctly, when I was young, several Canadian towns did up their own wooden nickels. They were good in the town & I avidly collected them.
2-16-2010 @ 6:23PM
MyKisa said...
fiat currency is only backed by faith and credit of gov man....do you trust gov man?....at least this "money" would be backed by your neighbor and his integrity...gov man has no integrity and the fed has only the money they steal from you
2-17-2010 @ 1:54AM
C Caton said...
Good idea - makes sure that your money stays "local" - ha!
2-17-2010 @ 7:39AM
BHarrison said...
Fiat money is only as good as people's willingness to accept the money in payment for goods and services. I find it rather amusing that the Federal Reserve dollar has printed on it the statment that THIS NOTE IS LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE.
HOWEVER, there is nothing that fiscally backs the Federal Reserve Notes other than the good faith to represent the good faith value of these NOTES. What an amazing feat by the ultra welathy owners of the PRIVATE Federal Reserve Bank. And by Congressional law, it is illegal to disclose the names of the owners of the Federal Reserve Bank, and the bank has no obligation, and it is prohibited to reveal the amount of deposits (sovership) that any of the PRIVATE owners have in the Federal Reserve Bank.
The American people have been totally conned and defrauded with the concept of this SECRET PRIVATE Federal Reserve Bank, which functions under the facade of being a quasi-National Bank . . . and most Americans think that it is a government bank, which is DEFINITELY is NOT.
This DEAL with the DEVIL wealthy people was just the price of getting them to help bail out the USA from the Great Depression . . . but our government SOLD OUR NATIONAL SOUL to the ultra welathhy back in the 1920s - 1930s to work their way out of the dire economic problems at that time. Now the question is: What will be done this time? They, the ultra welathy have defrauded the American people of the majority of their assets; what is there left to negotiate with them now, except being economically enslaved by these ultra wealthy indiiduals and parties?
That is the BOTTOM LINE REALITY of our current situation. It is a condition that would have caused civil revolution in earlier times in history; but it isn't possible in this day and age. it has come to being US, the common people, against the ultra welathy who control BOTH the economy and our government. It's time for the people to rise up and vote against these corrupt parties . . . and this can only be accomplished by voting the minnions of the ultra wealthy interests . . . that includes the vast majority of Congress.
Either start voting intelligently, without being swayed by the propaganda machines of the ultra wealthy, OR suffer the dire consequences of it all.
2-20-2010 @ 4:03AM
StokeyBob said...
More like, it is time to stop!
I don’t see how there can be any improvement in the economy until we stop the government from printing itself up fiat money.
Maybe this will help make the danger of fake money clear.
Imagine you and me are setting across from each other. We create enough money to represent all of the world’s wealth. Each one of us has one SUPER Dollar in front of him.
You own half of everything and so do I.
I’m the government though. I get bribed into creating a Central Bank.
You’re not doing what I want you to be doing so I print up myself eight more SUPER Dollars to manipulate you with.
All of a sudden your SUPER Dollar only represents one tenth of the wealth of the world!
That isn’t the only thing though. You need to get busy and get to work because YOU’VE BEEN STIFFED with the bill for the money I PRINTED UP to get YOU TO DO what I WANTED.
That to me represents what has been happening to the economy, and us, and why so many of our occupations just can’t keep up with the fake money presses.
They have been beating us with our own stick!!!!1