Milwaukee Neighborhoods Propose Use of Local Currency!

[Knightskye]

Digg! http://digg.com/business_finance/Neighborhoods_Prop_Printing_Own_Money_To_Encourage _Shopping

http://www.chicagotribune.com/business/chi-talk_moneydec03,0,2902061.story

Read about it on Consumerist (I have an RSS feed). 224,000 views (and counting) on Consumerist's article (http://consumerist.com/5102038/neighborhoods-propose-printing-their-own-currency-to-encourage-local-shopping). Must be a lot more on the actual Chicago Tribune article.

How'd that get around so fast?

And how awesome is this!? :D

EDIT: The view count is exploding on Consumerist. I just changed the view count in my post.

[awake]

If we all decided to go back to gold ... and traded it in it, it would be a start.

[TER]

looks like Milwaukee might be the first staging area for the Pentagon's new 'homeland security' troops

[awake]

looks like Milwaukee might be the first staging area for the Pentagon's new 'homeland security' troops


Exactly what they are for .. The IRS enforcement wing.


In Canada the anti terror laws specifically include threatening the financial security of the country - so in theory we could all get labeled terrorists for using a currency that destabilizes the well being of the country and we get shipped off for processing.

[tggroo7]

Read about it on Consumerist (I have an RSS feed). 164,000 views (and counting) on Consumerist's article (http://consumerist.com/5102038/neighborhoods-propose-printing-their-own-currency-to-encourage-local-shopping). Must be a lot more on the actual Chicago Tribune article.

How'd that get around so fast?

Probably all the people inside the government thinking like "oh shit, they're in for it good"...

looks like Milwaukee might be the first staging area for the Pentagon's new 'homeland security' troops

[StudentForPaul08]

I just read this on another site and was in love with the idea!

[sratiug]

Digg! http://digg.com/business_finance/Neighborhoods_Prop_Printing_Own_Money_To_Encourage _Shopping

http://www.chicagotribune.com/business/chi-talk_moneydec03,0,2902061.story

Read about it on Consumerist (I have an RSS feed). 224,000 views (and counting) on Consumerist's article (http://consumerist.com/5102038/neighborhoods-propose-printing-their-own-currency-to-encourage-local-shopping). Must be a lot more on the actual Chicago Tribune article.

How'd that get around so fast?

And how awesome is this!? :D

EDIT: The view count is exploding on Consumerist. I just changed the view count in my post.

It's on Yahoo's front page. Over 60% voting in favor... dugg & voted

[satchelmcqueen]

i hope it works well for them.

[nate895]

It is still fiat currency, and a bill of credit, a power forbidden to states (therefore localities as well, since localities are chartered by the state) in the Constitution. It would be OK if they issued commodity currency, however, since anyone can make commodity currency.

[ladyjade3]

It is still fiat currency, and a bill of credit, a power forbidden to states (therefore localities as well, since localities are chartered by the state) in the Constitution. It would be OK if they issued commodity currency, however, since anyone can make commodity currency.

A private entity should be able to issue something like this. They cannot declare it legal tender and compel people to accept it in payment, which is the important thing. It is basically a scrip, from the sounds of it. If both parties agree, what's the problem? Really?

[socialize_me]

It is still fiat currency, and a bill of credit, a power forbidden to states (therefore localities as well, since localities are chartered by the state) in the Constitution. It would be OK if they issued commodity currency, however, since anyone can make commodity currency.

It is a commodity currency. It's back by cans of "Fuck You, Government" which are in a short supply so yes, it is a commodity.

*swats* don't be bringing that weak shit

[socialize_me]

It is still fiat currency, and a bill of credit, a power forbidden to states (therefore localities as well, since localities are chartered by the state) in the Constitution. It would be OK if they issued commodity currency, however, since anyone can make commodity currency.

I take it you haven't been to Disneyland ever. Have you ever seen Disney Dollars?? They've been around for a long time. Like everyone said, it's like a local gift card. You have to give US Federal Reserve notes to get this money so it's not like people are receiving this money in their paychecks.

By your logic, we should abolish gift cards because they are "bills of credit"

[nate895]

I take it you haven't been to Disneyland ever. Have you ever seen Disney Dollars?? They've been around for a long time. Like everyone said, it's like a local gift card. You have to give US Federal Reserve notes to get this money so it's not like people are receiving this money in their paychecks.

By your logic, we should abolish gift cards because they are "bills of credit"

I didn't know private corporations were subject to the limits that states are under the Constitution. I'll take note.

[socialize_me]

I didn't know private corporations were subject to the limits that states are under the Constitution. I'll take note.

So you're against this then which is essentially a gift card?? Exchanging money for something (which is what this is doing) is not unconstitutional or a "bill of credit". If I trade my money for yen, that should not be illegal but would have identical results as to what you're saying.

If we cannot buy gift cards because they're "bills of credit", then why should we be able to buy books, cars, hotel rooms, or printers?? All these people are doing is using their money in exchange for something. How is that illegal? Because it's paper and redeemable at a local store that's illegal??? So if I recycle do I commit an unconstitutional act? Old newspapers and aluminum cans can only be redeemed in certain places as can only this 'currency' they have. It's not illegal or unconstitutional. Quit thinking you're on to something; you're not.

[IPSecure]

http://www.berkshares.org/

[socialize_me]

I didn't know private corporations were subject to the limits that states are under the Constitution. I'll take note.

Let me also note that nate895 apparently doesn't understand what he's talking about. We wouldn't even have an economy under his definition of a "bill of credit". If exchanging money for paper is illegal and unconstitutional, then we would never have had a stock market because all you're doing when you purchase a share is buying paper that can be exchanged. Debt could never occur in this country so bonds would never exist, yet the Founders lived in a time where the states did issue bonds, localities issued bonds, and even the Federal Government came about with the understanding that it could issue bonds.

Conveniently, none of these things fit your definition of a "bill of credit", but when two neighborhoods in a small town choose to exchange US DOLLARS for paper which can be used locally then it's a Constitutional violation. lol??

[Knightskye]

http://digg.com/business_finance/Neighborhoods_Prop_Printing_Own_Money_To_Encourage _Shopping

Digg bump. :D

[TastyWheat]

Umm, their special "currency" is backed by the dollar, which is backed by nothing.

You can't say that someone who uses one of these Milwaukee bills is immune to inflation. If shop owners keep exchanging these bills for regular dollars they'd have to raise prices [in Milwaukee currency] based on the strength of the dollar. Just some sleight of hand, nothing special here.

[raystone]

//

[itshappening]

There's an established alternative currency in Wisconsin,

madisonhours.org

and in over 30 other cities in the U.S. such as

http://www.ithacahours.org/

learn something new everyday

[Knightskye]

198 Diggs!
http://digg.com/business_finance/Neighborhoods_Prop_Printing_Own_Money_To_Encourage _Shopping

It's been up for a little over a day.

Is there a window for a Digg hitting the front page?

[nobody's_hero]

Needs to be backed by something of value. Wisconsin cheese, or something . . . anything.

[TastyWheat]

Needs to be backed by something of value. Wisconsin cheese, or something . . . anything.
Yes. Glad someone is paying attention. These local currencies are valued based on the dollar. Surely if the dollar goes to hell these local bills won't be worth a damn thing either.

They need to use something backed by a commodity or coins made of useful metals (gold, silver, nickel, tin, copper, platinum, etc.).

[Knightskye]

Needs to be backed by something of value. Wisconsin cheese, or something . . . anything.

Hops. :D