US town adopts their own local currency

GREAT BARRINGTON, Massachusetts embraces dollar alternative.

There are about 844,000 BerkShares in circulation, worth $759,600 at the fixed exchange rate of 1 BerkShare to 90 U.S. cents, according to program organizers. The paper scrip is available in denominations of one, five, 10, 20 and 50.

I wonder if this will start a wave of new currencies seeing as the house of cards financial system has become more volatile, or is it just another floor on the house of cards?

There´s quite a lot of them see the second link for a list of US community currencies.

LINK REUTERS

List of community currencies in the US

http://en.wikipedia.org/wiki/Liberty_Dollar

This one I heard about a) as it is based on a gold standard and b) because their assets have been seized by the FBI sometime last year. The reasons seem extremely shady and it has not yet gone to court, apparently the gold is still in the hands of the FBI.

I´m not a financial expert, but wasn´t the money originally created by paying for it with dollars or did they have their own gold?

Is this illegal, I mean if the fed system is messing up why can´t people in small communities trade amongst themselves?

Originally posted by Bicnarok
I´m not a financial expert, but wasn´t the money originally created by paying for it with dollars or did they have their own gold?

Is this illegal, I mean if the fed system is messing up why can´t people in small communities trade amongst themselves?

I agree. But it "disenfranchises" the Federal Reserve. You know, that illegal institution of evil and corruption.

Originally posted by Bicnarok
I´m not a financial expert, but wasn´t the money originally created by paying for it with dollars or did they have their own gold?

Is this illegal, I mean if the fed system is messing up why can´t people in small communities trade amongst themselves?

I would assume they paid for it with accepted money, probably US Dollars, yes.

It shouldn't be illegal, two reasons I heard are that it can be mistaken for real US Dollars (which seems nonsense if you look at their bills and coins, imo) and that it might have somehow been used for laundering money.

http://www.reason.com/blog/show/123543.html

They're idiots.

without proper financial infrastructure and monitoring, the money laundering claim has some water.

Originally posted by Symmetric Chaos
They're idiots.

Interesting view, I´d say all the people who borrowed virtual money and now are giving up their real properties are poor idiots.

In fact the whole system is idiotic and benefits the few.

Originally posted by Bicnarok
why can´t people in small communities trade amongst themselves?

because the gomment doesn't get a cut.

Originally posted by Bicnarok
Interesting view, I´d say all the people who borrowed virtual money and now are giving up their real properties are poor idiots.

The fact that those people are idiots doesn't change how stupid this plan is.

So the system, the people and basically everyone are idiots then, that makes me rather clever then seeing as I have hardly any money and no depts🙂

Originally posted by Bicnarok
So the system, the people and basically everyone are idiots then, that makes me rather clever then seeing as I have hardly any money and no depts🙂

Originally posted by Bicnarok
So the system, the people and basically everyone are idiots then, that makes me rather clever then seeing as I have hardly any money and no depts🙂

That would be my point of view, yes.

Originally posted by Bardock42
You have no depth?

You're both idiots. He typed "depts". He meant "debts", and you meant to make a joke about it that failed.

You're a towel.

Originally posted by dadudemon
You're both idiots. He typed "depts". He meant "debts", and you meant to make a joke about it that failed.

You're a towel.

Why did it fail? hmm

Originally posted by Bardock42
Why did it fail? hmm

B-because you're an idiot?

Originally posted by dadudemon
B-because you're an idiot?

Originally posted by Bardock42
Fair dos. I meant to say "How did it fail, in your opinion?"

What's in your wallet?

Originally posted by dadudemon
What's in your wallet?

Some euros, some pounds, some dollars (coins and notes), credit and debit cards, drivers licence, university card, National ID Card, WH Smith coupon, train cards, pictures, friendship bracelet and a condom.

Originally posted by Bardock42
Some euros, some pounds, some dollars (coins and notes), credit and debit cards, drivers licence, university card, National ID Card, WH Smith coupon, train cards, pictures, friendship bracelet and a condom.

What's the condom for?