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No Money? Then Make Your Own

BBC - Marie Jackson - Can printing your own cash actually help revive a struggling economy? That's just what traders in one London shopping district are hoping for, as they begin accepting a new local currency.

Short on cash? Then why not make your own. There's no law against it, so long as you don't try to pass it off as sterling.

And you can use whatever you please to make your money, whether cigarettes, rabbit skins or paper notes.

¿Nuestra Propia Moneda?

El Puente de la Bruja - Ante la fuga de capitales de su región, una comunidad de Estados Unidos decidió implementar algo que podría parecer utópico pero que ya es ejemplo mundial de desarrollo sostenible. En Berkshires, un puñado de pueblos de Massachusetts, cercanos a Nueva York, el icónico centro de la economía global, empezaron a usar una moneda alternativa al dólar. Esta semana conversamos con una de las organizadoras.

Local Currencies Cash in on Recession

LA Times - Nicholas Ricchardi - The stimulus for this mill town turned artist's colony arrived in the form of green bills bearing sketches of herons, turtles and trees.

A few dozen local businesses banded together this spring to distribute the Plenty -- a local currency intended to replace the dollar. Now 15,000 Plenties are in circulation here, used everywhere from the organic food co-op to the feed store to, starting this month, the Piggly Wiggly supermarket.

Can the Buck Stop Here?

Burinlington Union - Bruce Coulter - It’s all about the benjamins. But for the past 18 months or so, consumers have been less willing to part with their hard-earned cash, whether that greenback has a picture of George Washington or Ben Franklin.

As national economies have stalled, so has the global economy. Americans have seen the housing markets slump, car manufacturers crash, and banks begging for bailouts.

Local Currencies: An Overview - Cathy Tuttle - Even prior to the economic breakdowns we are now experiencing, economists who study globalization found that only about 20 percent of the money we spend in chain stores stays local, while the other 80 percent quickly zips back into the global market of manufacturers, distributors, transporters and investors. Spending your money in a locally owned business has the inverse effect, with 80 percent of money you shell out bouncing around for a while in local wages and suppliers.

Local Currencies

TIme Magazine - Judith Schwartz - With local economies flailing communities across the U.S. are trying to
drum up more action on Main Street. "Buy Local" campaigns are one way to go.
But many towns--from Ojai, Calif., to Greensboro, N.C.--are considering
going a step further and printing money that can only be spent locally.

En el País del Dólar, Circulan Más de 10 Cuasimonedas

La Voz del Interior - Los “bonos” surgieron de iniciativas privadas para hacer frente a la crisis. Permiten sostener el consumo minorista.

“Piense en cómo le gustaba, o aún le gusta, usar el dinero del Monopoly. Es divertido usar algo distinto a los dólares como medio de intercambio y más si hay cientos de comercios y proveedores de servicios que efectivamente lo aceptan”.

Buying Local: How It Boosts The Economy - Judith Schwartz - "Buy Local"—you see the decal in the store window, the sign at the farmer's market, the bright, cheerful logos for Local First Arizona, Think Boise First, Our Milwaukee, and homegrown versions across the states. The apparent message is "let's-support-local-business", a kind of community boosterism. But buying close to home may be more than a feel-good, it's-worth-paying-more-for-local matter.