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57 Comments
- MooseOfReason, on 12/05/2008, -1/+16You'd be able to buy your 16-year-old a beer at a local pub (Wisconsin made it legal with a parent supervising) with a different currency.
I want to move there! - sratiug, on 12/05/2008, -0/+15This is a great idea, since your town can make the profit that the federal reserve gets now for printing unbacked money. It would be even better with real gold or silver currency that the constitution requires.
- Nexus974, on 12/05/2008, -0/+14They should consider using Liberty Dollars. It can be used as a local currency and be fully backed by gold and silver.
- Carpy, on 12/04/2008, -1/+14I would definitely give this as a holiday gift if I lived in a place that had it. Shop locally!
- StingingNettle, on 12/05/2008, -0/+12Proving that you don't need to be a Harvard Professor to print money.
- Xilshale, on 12/05/2008, -0/+12My town in WI already has that. They're essentially gift cards called "chamber bucks" that are good at the local stores around here. I'd bet there are plenty of the same concept around the US.
- MooseOfReason, on 12/05/2008, -1/+13This isn't crazy.
Staying with the dollar and pretending it's not headed towards a cliff -- that's crazy. - vincebodie, on 12/05/2008, -0/+12There should be open competition in currency just like any other commodity. Look up "Ithaca hours" to see how a local currency can work.
- StingingNettle, on 12/05/2008, -0/+11I believe the term "coin" means that it is legal tender by the government. Which is why when mints make what you and I would normally call "silver coins" actually go by the name "silver rounds".
The liberty dollar which has a competing currency against Federal Reserve Notes ran into this problem and told its users not to call them coins, but to refer to them as silver liberties. The liberty dollar never stated that they were legal tender, but the feds confiscated their HQ and their money anyway. - StormCommander, on 12/05/2008, -0/+10What doesn't work is fiat currency.
- inactive, on 12/04/2008, -4/+13Oh, the crazy things they do in Wisconsin.
- Juaquin, on 12/04/2008, -0/+8Of course it's legal. Like you said, it's effectively a giftcard.
- o0dhacker0o, on 12/04/2008, -1/+9Wait, so that's it!? Thats all I have to do? All this time, I've been working and trying to EARN money...
Fire up the printers! I'm gonna be rich bitch! - thecoolestguy, on 12/05/2008, -0/+8Why is it illegal to mint coins?
- primaldefense, on 12/05/2008, -0/+7It's true my state is crazy. Not only are we one of the highest taxed states, but our state governments wants to increase taxes again. Even though the last time they increased taxes, less revenue came in. They refuse to see that they have become so bloated with programs that provide handouts, welfare, etc. and other wasteful spending that we are screwed with the ever rising budget deficit. It really doesnt' surprise me that people who live only a half hour from my home are starting to think about doing this. Anything to help boost the economy, especially when our state government is hurting our pocketbooks enough already.
- aletoledo, on 12/05/2008, -0/+7Interesting question. Tokens are coined, so it does seem like a metal currency should be allowed as well.
Perhaps it has to do with the idea that a coin has value in the metal. The old style coins were valued for the metal content and the coin itself was just a mark of the weight and purity of metal. Now that coins aren't valued for the metal any longer, it seems that they should be equally valid in the form of a token. - UnFriendlyFire, on 12/05/2008, -0/+7Liberty dollars ARE gold and silver.
- Nexus974, on 12/05/2008, -0/+6I was referring to the warehouse receipts. They could use them as a local paper currency and be fully backed by gold and silver. If Peter Schiff is right, and I think he is, then the receipts will leave the federal reserve note in the dust once hyperinflation hits.
- aletoledo, on 12/05/2008, -0/+5If the currency can only be used in that one town, then selling it on ebay is pointless. The people that buy the currency on ebay still must travel to the town to spend it. In addition, the national currency exchanged in the deal still remains with the city that sold it in the first place.
- yakoffwykoski, on 12/05/2008, -1/+5***** Yeah! Down with the illegal FED and hang all the bankers!
- 2ccafa5f, on 12/05/2008, -0/+4Since the dollar is only a currency - why not? Call it the cheese-nugget and start trading. Oh, does that mean there's no sales tax now? Will the government take 0.08 cheese-nuggets for every cheese-nugget spent in the shop?
- inactive, on 12/05/2008, -0/+4"Coincidentally" right when they were putting out a pure copper $1 Ron Paul token, but the left (ACLU) and the right (various ***** like the ACLU) were silent about this attack on libertarian speech, and the news media, because they're biased as hell against ANYthing libertarian, ignored it. And media bias "watchdogs" still wonder why I'm so disrespectful...
- inactive, on 12/05/2008, -1/+5As a business owner I would be a bit scared about the ease of copying such currency. If a bunch of the new currency is printed and you start accepting it as a tender. What happens if all of a sudden there's some huge counterfeiting scheme which sends inflation of said currency skyrocketing. Now you're stuck with all this currency that's worth almost nothing.
Just my 2 cents - brad3378, on 12/06/2008, -0/+3You could also probably weasel your way around the system by bartering with coupons for local services.
- inactive, on 12/05/2008, -0/+3jraymilton - Here, here! While I am not a liberation myself - I certainly do agree with a lot of the liberation views and would have NO problem voting for a liberation. And you are RIGHT the MSM is biased and it's wrong!
- brad3378, on 12/06/2008, -0/+2Although Milwaukee has more pubs than I've ever seen in my life, I find it strange that you can't buy anything from the liquor store past 9:00 PM here.
........Which is probably a major reason why this state leads the nation in Drinking & Driving.
The laws seem to discourage safely drinking at home and encourage drinking at the bar which makes it more likely you'll be driving after drinking. - mrgreenjeans, on 12/06/2008, -1/+3*you're
- StingingNettle, on 12/05/2008, -1/+3You better just except silver then.
- inactive, on 12/05/2008, -0/+2How easy is it to counterfeit and where are these stores?
- inactive, on 12/05/2008, -0/+2Thanks, USNavyBlue and (making an assumption here...) thanks for your service.
I try to imagine how I'd have treated a federal government censorship attack on anything from a Fred Thompson token to a Dennis Kucinich token because this is a principle thing for me, and believe me, my reaction would have been FAR stronger than any I saw from wimpy-ass groups ranging from the ACLU on the left to "Newsbusters" on the right (which actually distorted the story further until I busted THEM on it!). - inactive, on 12/05/2008, -0/+2I'm sure you're being facetious, but...
Unfortunately you won't be rich - your money won't be backed by anything, just like the U.S. dollar. The only difference with the U.S. dollar is the federal government has the power to coerce its acceptance as legal tender; you however, do not have that power. - LibertyPaine, on 12/05/2008, -1/+3It wouldn't be anything worse than what the Fed does now. At least you'd have legal recourse against the counterfeiters.
- MooseOfReason, on 12/06/2008, -0/+2You also don't need to be Ben Bernanke!
- KCIndy, on 12/06/2008, -1/+3For those worried about counterfeiting: If the "money" is in the form of gold or silver tokens/rounds/blanks then it would be impossible to counterfeit. Gold and silver hold their own value by their very nature. The current fiat currency circulated by the Federal Reserve is likely to be useless very shortly. My personal opinion - the wise among us will be stocking up on whatever forms of silver - or gold - they can afford.
Want to see the effects of rampant hyperinflation? Just go to Google News and enter the words: Zimbabwe inflation
Can you imagine paying for something with a $200,000,000 dollar bill?
http://www.google.com/hostednews/afp/article/ALeqM ...
If you don't think something similar could happen here, think again. Hang onto your shorts, people - it's gonna be a rough ride. - Wickwire, on 12/06/2008, -1/+2You could have 100 local counterfeit operations running 24/7, and you'd STILL never match the inflation that the Fed is going to create.
- Vusys, on 12/04/2008, -2/+3Some town here in the UK did that, people brought the money and sold it on eBay for a profit. It had the exact opposite effect intended.
- dogster, on 12/05/2008, -2/+3States should issue their own currency. It wouldn't be legal tender because of article 1, section 10 of the US constitution, but if it was acceptable for paying taxes, then it would be used. By creating their own liquidity, states could escape the engineered depressions that the banker controlled Federal Reserve inflicts on us. http://wraft.blogspot.com
- inactive, on 12/06/2008, -0/+1But my friend the artist JSG Boggs' experience suggests you might want good lawyers, who reflexively insist on a jury trial whenever possible. Judges look on this differently than juries, it seems...
- ciaran036, on 12/07/2008, -0/+1Bankers are wankers.
- inactive, on 12/05/2008, -0/+1Yes, bartered good are taxable.
That is if they can prove that the transaction actually took place... - TastyWheat, on 12/06/2008, -0/+1If the money is backed by the dollar then it's just as worthless.
- ciaran036, on 12/07/2008, -0/+1Fantastic idea! More people should do this!
- inactive, on 12/06/2008, -0/+1Sounds like some busybody business owners who have no clue what this would entail. Designing and printing decent hard-to-counterfeit currency is extremely expensive. Their best bet would probably be to work out something with a gift card processing company to create a card that can only be used at area stores.
- inactive, on 12/06/2008, -0/+1more like Banksters!
- ciaran036, on 12/07/2008, -0/+1Since when was it a problem with the European countries to be using their own currency? It never, ever was!
- primaldefense, on 12/08/2008, -0/+1Yeah inaccurate quote right here. Taxes looked at in that article are only the following: Sales, Gas/gal., Cig./pack, Beer/gal. It also ranks teh State burden and the State/Fed. burden. There is not one look at property tax, income tax, and many other taxes that are imposed on businesses, transportation, etc. Good try though, dig a little deeper. WI is in the top 10 highest taxed states. In fact we were 6th in the United States at one point only a few years ago. WI does have the lowest taxes on beer, which does help to an extent (/sarcasm).
There are many articles that complain about how high taxes are in the US and cite good sources on how lowering taxes will help not only businesses but the general public. As well as articles that look at things like property taxes, etc that actually affect everyone unlike cirgarette taxes and beer taxes.
http://www.taxfoundation.org/publications/show/229 ...
WI Property taxes:
http://efinancedirectory.com/articles/States_with_ ...
In fact on a side note, WI just barely got out of the top 10 highest taxed states this year finally, after being in the top 10 since 1980. Thats over 25 years of WI being in that position. Here is the actual press release from the WI state assembly speaker - http://www.legis.state.wi.us/assembly/asm94/news/H ... - inactive, on 12/06/2008, -0/+0Yes but, your federal reserve notes have no worth either. FRN do not = wealth. FRN = Debt. So unless you own a lot of gold and silver or anything that has worth, you are broke anyways.
- airnavigator, on 12/05/2008, -2/+2I'll pass, even though I used to live on Milwaukee's eastside.
- RabbitMountain, on 12/18/2008, -0/+0TastyWheat is right. The only way to preserve local value is to decouple its economy from the dollar altogether. Ithaca Hours and all the rest are simply alternative Federal Reserve Notes, and they will tank in value right along with the dollar. For example -- 1 Ithaca Hour = $10. So what happens when $10 in 2009 buys 1/10 the stuff it did in 2007? Do Hours increase in value to account for that inflation? No, they don't... their value tanks too, taking down everyone's purchasing power.
Even if some town managed to create a currency decoupled from Fed Notes, it would still have to be convertible to Fed Notes so everone can pay their federal taxes. Otherwise the SWAT teams will be deployed with guns a-blazin'.
Not to mention that building a 10% loss for local small business right into the currency defeats the entire purpose. Aren't local currencies supposed to be helping local small business? As a small business owner I would never participate in such an obviously idiotic scheme. What are people thinking?? - thr335t7, on 12/05/2008, -2/+2Many people believe that the answer to combating the economic woes we are seeing today is to avoid doing business with the big banks and retailers and start to invest locally,in your own communities instead. Here's a link that you might find interesting: http://solari.com/
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