Saturday, July 18, 2009
o Local Currencies
A local currency keeps money circulating in a smaller area. It’s a way to support local businesses and craftsman because anyone outside the local area, for example Starbucks, will not accept the local currency. Smaller robust economies have less of a chance of imploding as dramatically as larger economies. "Berkshares" are an example of a local currency being implemented in Massachusetts.
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Jct: Best of all, when the local currency is pegged to the Time Standard of Money (how many dollars per unskilled hour child labor) Hours earned locally can be intertraded with other timebanks globally! In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours. U.N. Millennium Declaration UNILETS Resolution C6 to governments is for a time-based currency to restructure the global financial architecture.
See http://youtube.com/kingofthepaupers
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