Re: Why is local currency good or bad or neither?

[Burns, Erik]

this also reminds me of the internet currencies created during the dotcom
boom (i.e. flooz  beenz) and also of e-gold (which is still around:
www.e-gold.com), all of which use tokens rather than dollars (which are
tokens too). these always seemed to me to be ADDING a step to transactions
rather than making them easier. and the argument that e-gold solves the fiat
money problem is, to me, false because you're stuck with gold's value being
determined by a market that's priced in ... dollars. for some reason the
gift certificate still seems to work as a money substitute, and has been
ported to the online world with relative ease (i.e. amazon.com gift
certificates) - perhaps because it's clear there is no secondary market in
gift certificates (is there?) and so they really are a gift and not just
money.

etb

Re: Why is local currency good or bad or neither?

[Burns, Erik]

here's a good introduction to local currency systems.
http://www.transaction.net/money/
etb



-Original Message-
From: ArmChair List [mailto:[EMAIL PROTECTED] Behalf Of Susan
Hogarth
Sent: quinta-feira, 30 de Outubro de 2003 20:41
To: [EMAIL PROTECTED]
Subject: Re: Why is local currency good or bad or neither?


Quoting john hull [EMAIL PROTECTED]:

 It seems that there are a number of schemes to create
 currencies, on top of extant national currencies, that
 will be accepted only locally.  Under such a program,
 a unit of currency, let's call it a Local, will be
 created by a group in the community.  The currency may
 have a more-or-less arbitrary value associated to
 it--one group I've read about sets their equal in
 value to ten dollars as well as one hour worth of
 effort.  Presumably, then, if someone rakes your lawn
 for one hour, you pay that person one Local, and that
 person can exchange the Local for $10 worth of goods
 or services from participating merchants or
 individuals. ...

Can you provide an exampe (or two?) please? Thanks.

--
Susan Hogarth