- published: 16 Aug 2010
- views: 12658
In economics, a local currency, is a currency that can be spent a particular area at participating organisations. Usually it will act as a complementary currency, that is to be used in addition to a national currency, rather than replace it. The purpose is to encourage spending within the local community, especially with locally owned businesses. This may also help reduce environmental footprints.
The currency may not be backed by a national government or be legal tender. As a tool of fiscal localism, local currency can raise awareness of the state of about the local economy. They are useful for people who are unfamiliar or uncomfortable with traditional bartering.
They encompass a wide range of forms, both physically and financially, and often are associated with a particular economic discourse.
Local currencies are sometimes referred to as a community currency. They are often forms of alternative currency, complementary currency and/or auxiliary currency. There is debate as to the exact definitions. Some definitions:
ithacahours.org Ithaca Hours is a local currency system that promotes local economic strength and community self-reliance in ways which will support economic and social justice, ecology, community participation and human aspirations in and around Ithaca, New York.
Speaker: Gwen Hallsmith | At THE GUND INSTITUTE, we're responding to recent events in NYC by applying our science to develop real SOLUTIONS for many of the grievances raised by the protesters occupying Wall St. We seek to shift from a focus on growth at all costs to a focus on quality of life and fair distribution of wealth and of power. THE PEOPLE ARE READY for a new economics. It's time to open up the toolbox and rework the rules of the system together. Come LEARN, SHARE, and become EMPOWERED to create change. Transcript for Video: https://docs.google.com/document/pub?id=1wC0Whk4BQoWQtbwznp1bCMmjUQ4aAZleyt3EALzNuGQ Please share this video and share in the conversation. Email: GundInAction@gmail.com Facebook: https://www.facebook.com/gundinstitute YouTube: http://www.youtube.com/use...
"Back in the 1930s on the Olympic peninsula, people were paying their taxes in alternative money…The banks shut them down. This is an example of the monopoly the banks have, and the level of control they have over peoples' economic lives… People need to know [local currency] is a possibility, an option, a realistic tactical and powerful way to take back your economic power from the bankers." Fourth Corner Exchange co-founder Francis Ayley says the current debt-based global money system is an unsustainable Ponzi-scheme that will crash. By contrast, local currencies are unlimited, based on whatever members want to exchange. He and director Lia Ayley share the nuts and bolts for new members starting to exchange, how values are set, and exchanges involving both Life Dollars and US dollars. Th...
The Cherry Blossom,Plenty and Chiemgauer are just some of the names given to regional currencies that have seen a boom during the global financial crisis.The Chiemgauer,introduced in Bavaria's Chiemgau region five years ago,is the most successful in all of Europe.Many economists scoffed at or dismissed the Chiemgau's regional currency as a tourist gag. But now more than 600 companies use the currency to pay their bills. Regional curriencies help local businesses - not the international financial markets. Reporter Vanessa Fischer traveled to the town of Traunstein to find out what makes the Chiemgauer so attractive.
Zimbabwe abolished its local currency in 2009 after obscene inflation. Since then, consumers have been using the U.S. dollar and other global currencies. But now that China's influence has increased, will retailers start accepting the yuan?
Berkshire County in Massachusetts has taken "buy local" to a whole new level by creating their own currency. The BerkShare is now accepted by some 400 businesses throughout that region. Economics correspondent Paul Solman explores advantages for both consumers and storefronts.
My book explains step-by-step how to start and manage a community currency system. I created Ithaca HOURS local cash in 1991. Millions of dollars worth have traded. Loans to $30,000 interest-free have been made. To purchase: http://www.paulglover.org/books.html
Alice Maggio represented BerkShares at the 2nd International Conference on Complementary Currency Systems in the Hague in June. Subscribe: http://bit.ly/1r3825A More info here: http://berkshares.org
Francis Ayley established over a dozen local currencies in the UK before moving to the U.S. He contrasts our standard, scarcity- and debt-based money system with local currencies in which "there's always as much as you need." Local currencies like his Fourth Corner Exchange issue money when members trade goods and services. Communities with local currencies will be less affected when recession or depression hits the mainstream economy. Episode 49: [www.fourthcornerexchange.com]
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Economic collapse and financial cr is rising any moment. Getting informed about collapse and cr may earn you, or prevent to lose money. Do you want to . Network of Global Corporate Control 2/2 Local Currency Villages and Towns achieve employment with local currency . The Global Currency Reset to exchange US Treasury Dollars for Federal Reserve Notes, followed by currency minted from gold . Segment taped June 30 (aired July 14) and July 7, attempt of International Court of Justice to steal world's monetary gold reserves in the Global Debt Facility that .
Find out about the first citywide local currency the Bristol Pound, in a talk from just before it was launched. It is now operating throughout the city of Bristol. From the website: "The Bristol Pound is a complementary local currency designed to support Bristol's independent businesses, strengthen the local economy, keep our high streets diverse and distinct, and help build stronger communities. The Bristol Pound is the UK's first city wide local currency, the first to have electronic accounts managed by a regulated financial institution, and the first that can be used to pay some local taxes. The Bristol Pound is run as a partnership between the Bristol Pound Community Interest Company and Bristol Credit Union. It is a not-for-profit social enterprise." http://bristolpound.org Si...
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A revolutionary idea to save local businesses and the economy. Listen to this show on www.nrisamay.com at 8 AM PT, 11 AM ET, 9:30 PM IST on this Sunday, Nov 23rd. Jeff Dicken, Board of director, Baltimore green currency association, talks about BNote the local currency – real money that can be used for any local transaction in the Baltimore area. More than 40000 BNotes have been exchanged into circulation and are being accepted in communities across the city.
The second of The Banker's discussions on Africa.
When your corporate clients pay overseas suppliers, sending local currency instead of dollars can save them time and money—and boost revenue for your institution. To make the most of this opportunity, it pays to know the basics, and the benefits, of FX payments and risk management.