by Kelly M.
Member since:
January 7, 2007

Communities Printing Their Own Currency?

January 05, 2009 01:50 PM EST
views: 52 | comments: 26

I know that some people are worried about the value of a dollar in this economy, but I'm not sure what I think about this.  It seems that some communities are considering printing their own currency, which could be bought with U.S. dollars, but would be only accepted at local businesses, in order to encourage people to shop locally from mom and pops instead of at big box stores such as Walmart.

It's not a new concept - the Chicago Tribune says that many towns and neighborhoods relied on their own local currency during the Great Depression. It's also perfectly legal.

So what's the advantage for shoppers? Well, the currency could offer incentives - trading $100 US for $110 in the local currency would give shoppers a 10% bonus, for example.

What do you think? Would you use a local currency in order to support your community? Or are you going to shop at Walmart until they pry the cart from your cold dead hands?

link to this page
Bookmark this post:
Facebook
Twitter
Delicious
Buzz
More

Comments: 26

Leah Christensen Jan 5, 2009, 1:56pm EST
I am going to continue to use regular Canadian money, and there's no way I'm setting foot in Wal-Mart!
Sunaura *. Jan 5, 2009, 1:58pm EST
Sounds like the Confederacy all over again
Candy S. Jan 5, 2009, 2:02pm EST
interesting I have never heard of this.
DesertDarlene L. Jan 5, 2009, 2:09pm EST
Hmmm, interesting. Right now, it only sounds like they're giving a coupon in lieu of shopping locally. And, it's only 10%, so not a very good coupon, either.
C C. Jan 5, 2009, 2:11pm EST
thanks for posting to commentsneeded.gather.com
Shannon W Jan 5, 2009, 2:13pm EST
I'd do what ended up being the better deal for my family. 10% isn't t hat much of an incentive.
Alta B. Jan 5, 2009, 2:20pm EST
I guess I'll keep using Walmart because I can't afford the local store prices.
Heather M. Jan 5, 2009, 2:26pm EST
hmm
**AngelEyez** a. Jan 5, 2009, 2:36pm EST
I will just do what I need to do,,,
**AngelEyez** a. Jan 5, 2009, 2:37pm EST
Walmart so far is cheaper for me,everything here is sky high because its a tourist area
Melissa S. Jan 5, 2009, 2:51pm EST
Thats an interesting idea!
juley g. Jan 5, 2009, 2:57pm EST
Things are certainly getting scary.
Maria W. Jan 5, 2009, 3:09pm EST
Thanks for sharing
Rob Appell Jan 5, 2009, 3:35pm EST
I'd use 'local' money if I shopped at many 'local' stores. I don't do Wal-Fart at all, however, the stores where I do at least 90% of my spending are chains; Rite Aid and CVS drug stores, Wilson Farms convenience store and Wegmans supermarket, so it wouldn't be all that advantageous for me to use 'local' money. I would have to use it mostly in restaurants and cafes on my street, which I don't spend much at any of them other than a cup of coffee. I can buy more groceries and eat more meals than the prices charged for food in these eateries.
Connie L. Jan 5, 2009, 3:48pm EST
wellI just don't know, never heard of this
Lisa C. Jan 5, 2009, 4:11pm EST
Interesting concept. I don't shop at Wal-Mart either.
Laurie R. Jan 5, 2009, 5:04pm EST
I would love to shop locally but a small town with no industry doesn't have stores that can be competitive in today's economy. our local bookstore closed after 7 years. surprised they made it that long. one thing we are good for is fast food restaurants as we are right off I-96 in Michigan. A town of 3800 with three exits off the expressway!!!
Carla B. Jan 5, 2009, 5:49pm EST
We do the bulk of our shopping on a military base. We would continue to do so. The only grocery store that I know of within 30 miles that isn't part of a chain, charges roughly twice as much on most things as the commissary does. We couldn't afford groceries there, even with an extra 10%...
William M. Jan 5, 2009, 7:16pm EST
Interesting.
Marsha S. Jan 5, 2009, 8:08pm EST
~Paying it Forward~
Jane S. Jan 5, 2009, 9:53pm EST
Walmart is our cloest large store but we go out of our way to shop elsewhere. Just the fact that people are talking about "town" dollars shows how bad this economy is. Buying "town" dollars would be no worse than a gift card for a certain store and people seem to like them. Just seems scary though to have all this phoney money floating around with a credit backing and not gold. Japan as I have read, and China next, is considering not baking our loans (all that bailout money) because the world economy has gotten and is getting to the point where to maintain their own country's stability they can no longer affort to stabilize our country. Treasuries actually decreased in worth and that i another really bad depression sign.
Melanie B. Jan 6, 2009, 2:24am EST
That is interesting, I had not heard this yet.
Courtney C. Jan 6, 2009, 1:14pm EST
That's bizarre
Ryan M. Jan 12, 2009, 10:46am EST
That would be weird.
Austin Cushing Feb 5, 2009, 5:10pm EST
This comment is to let you know that this content has reached at least ten comments, and as such has been removed from Comment Speedway! Congratulations!

Join the Conversation
Chime in! Become a Gather member to comment.
Already a member? Sign in
top
 
Gather | Friends | Groups | Share
About Gather | Engagement Marketing | Make New Friends | Gather Points | Advertise on Gather | Gather Press | Privacy | Terms of Service | Community Guidelines
Books | Celebs | Entertainment | Family | Food | Health | Moms | Money | News | Politics | Spirituality | Sports | Travel | Writing
Version 16961, "Pacino"; Copyright © 2009 Gather Inc. All rights reserved.