Would You Do Business Using a Local Currency?

by **bratticus** » Sun 29 Mar 2009, 08:37:09

Would You Do Business Using a Local Currency? If you were in Totnes would you buy things using Totnes Pounds and accept them for goods and/or services you produce?

by **wisconsin_cur** » Sun 29 Mar 2009, 08:50:11

In a word, yes. I would prefer if the local currency was tied to a precious metal but I would probably participate regardless.

by **bratticus** » Sun 29 Mar 2009, 09:28:21

wisconsin_cur wrote:In a word, yes. I would prefer if the local currency was tied to a precious metal but I would probably participate regardless.

So how do you feel about the potential for easy counterfeiting? Surely a bill that's made on low-end equipment should be an easy target for counterfeiters, right?

by **deMolay** » Sun 29 Mar 2009, 10:58:55

No I would accept gold, silver or trade goods only. As in I will trade you a cow for that used car etc. Or here is 3 chickens for that box of ammo. All paper money is fiat money and makes poor asswipe.

by **wisconsin_cur** » Sun 29 Mar 2009, 11:04:19

As for local fiat money there is also the case to be made for politics. In a small town or community it is important to maintain at least the appearance of community spirit. Even if it is flawed I will take a haircut in order to be someone who cares about the community... regardless of my true feelings.

Of course I do like this place and genuinely like most of the people; but that is beside the point which is politics. Just turn the local currency into real goods as quickly as possible (which is generally the point) if you are afraid of counterfeiting or other loss of value.