S Bengi wrote:And if we create our own money, what is it going to backed by.
Who is going to set the exchange rate.
Heather Spegal wrote:I'm not sure if I tend to under think things or some of you are over thinking this. This sounds a whole lot like Berkshares. Its a good way to keep "money" with in the community. And it also helps to sustain and grown local businesses. http://youtu.be/rYc1u8eqhiM
S Bengi wrote:If I get Berkshare and the only thing I buy is "outside" electronics and metals, vs local apple/milk which everyone is already producing.
How is that keeping the money in the community.
I'm not sure how the whole berkshares work but I think they are used inside the community only and I suppose if you buy your electronics from a local electronics store then it tends to keep a good portion of the dollars with in the community. But I could be totally wrong about that. Like I said most of it is just over thought. And if it wasnt do-able then they would not have been so successful. I believe the whole idea is to keep most of the money people spend with in the community. It keeps you from say purchasing most of your products from big box stores. Its proven 90% of money spent at places like walmart leave a community. And I dont think Walmart excepts Berkshares. You still would have to purchase things like gas, utilities and so on... I'm not sure how this town deals with things like that. There has to be some sort of "real" money involved. But I still think the concept is a good one.