Re: Local Currency Article

["Norman G. Kurland" <thirdway@cesj.org>]

There is nothing illogical or unjust about all these proposals for local
currency.  But none of them has any impact on the global economy and the growing
wealth gap occurring on a daily basis within all national economies and among
developed and subsistence economies around the world.  Only by transforming the
money-creating and capital credit systems at the nation-state level and evolving
global level will this wealth gap be closed. (See
http://www.cesj.org/homestead/reforms/moneycredit/centralbankfunding-nb.htm)
Balkanization did not work in the Balkans and it won't work very well in the
global economy.

Norm Kurland
Center for Economic and Social Justice
Web: http://www.cesj.org

"Maria B. Pellerano" wrote:

> Hi,
>
> I used to live in Annapolis, Maryland in a section of town called Eastport.
> There once was a boatyard in Eastport that made PT boats during World War II
> and then luxury yachts.  The boatyard owner was trying to make a point about
> how much his local payroll helped the local economy so for a period of time
> he paid his workers with two dollar bills (rare even then).  Anyway he
> proved his point when the workers started spending their two dollar bills.
> Local currencies are very useful for showing how much local money circulates
> and how it helps the local economy.  The following URLs will give you an
> idea about how different systems work:
>
> http://timedollar.org/
>
> http://www.lightlink.com/hours/ithacahours/
>
> http://www.ithacahours.com/otherhours.html
>
> http://www.gmlets.u-net.com/
>
> -- Maria
> =====================================================
> Maria Pellerano, Associate Director
> Environmental Research Foundation
> Rachel's Environment & Health News
> P.O. Box 160, New Brunswick, NJ  08903-0160
> Phone: (732) 828-9995; Fax: (732) 791-4603
> E-mail: maria@rachel.org; Web site: http://www.rachel.org/
>
> Member of National Writers Union / UAW Local 1981 / AFL-CIO
> =====================================================
>
> ----- Original Message -----
> From: "David Spitzley" <dspitzle@gw.wash.k12.mi.us>
> To: <EOsubnat@cog.kent.edu>
> Sent: Monday, December 09, 2002 5:13 PM
> Subject: Re: Local Currency Article
>
> David
> >>> Mbindnerdc@aol.com 12/09/02 14:35 PM >>>
> As a private product it is perfectly legal.  However, to be clear, the
> city cannot issue scrip, because local governments exist as a unit of
> state government (even though they are independently elected) and states
> cannot print or coin money.
> ----------------------------------
>
> Ok, that's a useful clarification.  However, that begs the question of
> how involved a local government could get in establishing such a system
> of currency without overstepping the bounds of the law.  For example, at
> the end of the article, it is mentioned that the local legal system has
> ruled counterfeiting of the bills a crime.  I expect this could be
> viewed as more a matter of copyright infringement than anything else,
> but it still acts to preserve the value of the currency.  Could
> government offices accept local currency?  Require it for payment of
> fines (as a form of "privatized" community service)?  To what extent
> does local government action to establish the currency as legal tender
> overstep the lines?
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