Local Currency Plan

Ladder Man · #41 (**permalink**) 25th August 2009

Quote:

Originally Posted by Kensington

Just a poor college student with a part-time job.

For god's sake man We done that local currency as far back as the famine, you want us to go around and get little buttons to spend in

the local shop, Where are you studying Telly Tubby land, I suppose you work for buttons also.

Kensington · #42 (**permalink**) 25th August 2009

Quote:

For god's sake man We done that local currency as far back as the famine

No we haven't.

Quote:

you want us to go around and get little buttons to spend in

the local shop

What do you spend in the local shop?

Quote:

Where are you studying Telly Tubby land

A place where grammar and punctuation is taught.

Kensington · #43 (**permalink**) 25th August 2009

Quote:

It's an idea which on a very small scale can benefit one local economy at the expense of others around it, but on a large scale it would be economically crippling, since it's basically ultra-protectionism on a very low level.

Eh, why do you have a labour avatar? I'm sure the PD one is still available.

Quote:

Note how the opening poster wanted the county council to issue. Regardless of the benifits some will want the state to retain control.

If local currencies are to become established and succesful, they will have to be mandated and supported by Government.

PigPus the Truthteller · #44 (**permalink**) 25th August 2009

Quote:

Originally Posted by Kensington

If local currencies are to become established and succesful, they will have to be mandated and supported by Government.

You want this to be true, your mentality is wedded to the state being your mother.

Your mentality will change when you have to pay momma.

Why not read up on the Ithaca Hour Ithaca Hours - Wikipedia, the free encyclopedia

You want a debt free currency, you harp on about it at lenght. But still you would not accept a group of businessmen issueing their private currency.

If the merchants of say Galway City agreed amongest themselves to cut the government(city, county and national) out of the process of issueing money you would not support them. Is that true or false

Kensington · #45 (**permalink**) 25th August 2009

Quote:

You want this to be true, your mentality is wedded to the state being your mother.

ah, that explains it.

Quote:

If the merchants of say Galway City agreed amongest themselves to cut the government(city, county and national) out of the process of issueing money you would not support them.

Sure i'd support them, but it wouldn't make any real difference. We need actual, systemic reform, not a novelty.

PigPus the Truthteller · #46 (**permalink**) 25th August 2009

Quote:

Originally Posted by Kensington

Sure i'd support them, but it wouldn't make any real difference. We need actual, systemic reform, not a novelty.

Talking out of both sides of your mouth.

Even if everyone in Ireland were using a privately issued currency, you would still not support it.

Christel · #47 (**permalink**) 25th August 2009

[quote=Kensington;1997678][QUOTE]Why has the amount of money to be regulated?

Quote:

If too much money is created, as would probably happen, it would be inflationary. Money's job is to be a medium of exchange which is universally accepted and a store of value.

As we all know, prices have inflated by about a factor of 50 over the last, maybe, 100 years. This is because inherent in our present debt-based system is the need for the money supply to constantly increase.

Runaway inflation or deflation can devastate an economy and peoples' savings and the supply of money needs to be regulated to combat it.

That is because an economy is usually connected to other economies?

If that wasn't so, and if the system wasn't debt based, because everyone could produce his/her own money, would inflation be such a problem? After every 5 or 10 years an economy could say: From now on 1 is worth what was 10, in prices and money, to make counting easier, for example?

PigPus the Truthteller · #48 (**permalink**) 26th August 2009

And that sums up local currencies.

When the country is reduced to the state where it is at the moment. Totally deballed.

The population relies on the government to babysit them. They can not even wipe their holes unless the county council does it for them

Kensington · #49 (**permalink**) 26th August 2009

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If that wasn't so, and if the system wasn't debt based, because everyone could produce his/her own money, would inflation be such a problem?

If everyone produced their own money, without regulation, than people would have no confidence in it. People have to have confidence that others will accept it in exchange for goods and services and that it will be a good store of value.

Even if the money was not debt-based it would still lead to demand inflation if too much of it was printed.

Quote:

From now on 1 is worth what was 10, in prices and money, to make counting easier, for example?

That would be seriously disruptive, though. it would be far better to simply control its supply on a weekly basis. Money has to be relatively stable if it is to be trusted.

Supermanpolitician · #50 (**permalink**) 26th August 2009

Quote:

Originally Posted by QuizMaster

Does anyone here live in Shankill, co. Dublin?
They had a local currency for a while, the Skill.
I know because I was one of the administrators.
This was around 1995.

The idea was, you join, your initial balance is zero. You get a chequebook and a list of other members and their suggested goods/services on offer. A Skill was valued at one hour's work. So the two people striking a deal would agree themselves the value of the goods or services if they were other than hours working.

It worked well for a while, but fizzled out eventually because of an old problem with these systems. A problem which might now be going away, so maybe it's worth trying again.

The problem was: there was too much real money going around. So you couldn't get hold of a plumber or a window cleaner. They were too busy making Punts. When real money runs short, local currencies can rise again.

Also there was too much paperwork involved. That should be remedied now, with computers and IT skills being so ubiquitous.

Dumbest idea I have ever read.

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