General Discussion

Chan790

(20,176 posts)

9. Scrip and alternate currencies like this are legal in the US and while uncommon do circulate.

Sun Jun 28, 2015, 12:16 PM

Jun 2015

One of the towns near me in NW CT tried it about a decade ago as a means of encouraging local goods and services, pinning the value of one note (I don't remember what they called it) to $1. In addition, several local retailers (restaurants and farm-stands mostly) offered a discount for the use of the alt-currency.

There's nothing that stops the state of Kansas for example doing this though they cannot compel their creditors to accept payment in the alt-currency nor can they refuse to exchange their alt-currency for dollars nor can they refuse to accept payment in dollars for debts assessed in Kansas-notes.

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A solution for Greece, invented by a russian farmer and a school-student [View all] DetlefK Jun 2015 OP

There have been similar solutions attempted in various places over time. Erich Bloodaxe BSN Jun 2015 #1

What would happen in the US if, say, each state had their own currency? PoliticAverse Jun 2015 #8

Scrip and alternate currencies like this are legal in the US and while uncommon do circulate. Chan790 Jun 2015 #9

I do think that Denmark and the UK still use their own currency, but do accept Euros. djean111 Jun 2015 #2

The market would ultimately set the exchange rate pscot Jun 2015 #3

Isn't that like when California was printing IOUs? (nt) Nye Bevan Jun 2015 #4

Interesting idea - and it operates enlightenment Jun 2015 #5

The entire Western world owes Greece a major debt of gratitude that it can KingCharlemagne Jun 2015 #6

Thinking outside the box Betty Karlson Jun 2015 #7