Creating Our Own Currency...Screw the dollar

My husband sent me the following link:
https://www.ithacahours.org

I guess in Ithaca, New York a group has created their own community currency called the Hour. There are 900 businesses in their community that accept Ithaca Hours either in addition to or instead of US Dollars. Their goal is to strengthen the local economy and local businesses by keeping the money spent by people in the community in Ithaca. Seems like a very interesting idea and I wonder how something like that would go over around here.

Any thoughts?

-Larissa

:2cents::spentmoney:

how to back it? and h ow to value it? who is authorized to print or make the representations of each "hour". Just make me the treasurer and Ill handle everything. seriously speaking, just print it up and pass it out like monopoly money. all the businesses agree to accept it as representative of barter interchangable with one another. for example, joe owes jane 50 "hours" for massage. he pays in "hours" as a credit. jane takes the "hours" to the grocery and exchanges for food and supplies. the grocery then gives the hours to joe as salary so he can pay for future massages from jane. and so on. Ill just print up as much as everyone needs. that can be my job.

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My husband sent me the following link:
https://www.ithacahours.org

I guess in Ithaca, New York a group has created their own community currency called the Hour. There are 900 businesses in their community that accept Ithaca Hours either in addition to or instead of US Dollars. Their goal is to strengthen the local economy and local businesses by keeping the money spent by people in the community in Ithaca. Seems like a very interesting idea and I wonder how something like that would go over around here.

Any thoughts?

-Larissa

:2cents::spentmoney:

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There was something like that created here in sonoma county called "barter bucks". I don't know what ever happened with it. I was very interested, but it seemed to be all far from me (i'm in Santa Rosa), like somewhere in West County. Maybe someone else here in wacco land was really involved with that. What ever happened?

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Posted in reply to the post by Larissad:

My husband sent me the following link:
https://www.ithacahours.org

I guess in Ithaca, New York a group has created their own community currency called the Hour. There are 900 businesses in their community that accept Ithaca Hours either in addition to or instead of US Dollars. Their goal is to strengthen the local economy and local businesses by keeping the money spent by people in the community in Ithaca. Seems like a very interesting idea and I wonder how something like that would go over around here.

Any thoughts?

-Larissa

:2cents::spentmoney:

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As I understand things ...from a show on TV or web research, don't really remember... but I found out that even the dollar is nothing. That it is a "promisary note" (says that right on it)
A long time ago the real and only "money" we really put value in is GOLD. That is what is promised when you hand someone that green piece of paper that you will give them gold later just take this now.

You notice these days that instead of the dollar bill we use plastic cards.
That plastic card tells a computer what number to take from a persons account, or automatic deposits into your accounts are only numbers. Not ever really exchanging "money" but numbers. That is all. Then numbers or amounts are removed from the account. Just numbers.

To me it is fastinating. Especially when my numbers just don't add up enough for minusing....
u know?
Here's wishing a Happy Successfull, patient,loving,blessed New Year to all you in WaccoBB land!!!
~Lorrie's:2cents:

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Posted in reply to the post by Sabrina:

There was something like that created here in sonoma county called "barter bucks". I don't know what ever happened with it. I was very interested, but it seemed to be all far from me (i'm in Santa Rosa), like somewhere in West County. Maybe someone else here in wacco land was really involved with that. What ever happened?

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If you are interested in learning more about what are often referred to as complimentary currencies here is a place to start:

https://www.ratical.org/many_worlds/cc/

Ruth

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Posted in reply to the post by Rucira:

how to back it? and h ow to value it? who is authorized to print or make the representations of each "hour". Just make me the treasurer and Ill handle everything. seriously speaking, just print it up and pass it out like monopoly money. all the businesses agree to accept it as representative of barter interchangable with one another. for example, joe owes jane 50 "hours" for massage. he pays in "hours" as a credit. jane takes the "hours" to the grocery and exchanges for food and supplies. the grocery then gives the hours to joe as salary so he can pay for future massages from jane. and so on. Ill just print up as much as everyone needs. that can be my job.

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There was a very large barter group about 23 years ago in Sebastopol. It eventually caved in because people couldn't spend all their "hours". What it came down to is that purveyors must pay for what they sell and there are vastly different markups for goods. For instance the markup on groceries and hardware is very very low for small family stores. (Safeway, Home Depot, and Costco not going to play this game.) The barter group ended up being people who offered services (no materials to buy) or workshops and people who offered crafts (many materials free, cheap or recycled). The service people ended up with hours and hours which they could spend on wreaths or on therapists who had difficulty attracting clients. How many wreaths does one person need? And most people prefer to choose their own therapists. Meanwhile the items which those of us who live low on the hog really needed to buy (shelter, transportation, food, medicinals, hardware) were unavailable by barter and now we had even less money to purchase them.

An attempt to allow a limited amount of money to exchange hands met strong opposition, although, when there was a clear division between "parts" and "service", e.g., auto repair, it sometimes worked, although the mechanic sweating over a tough, messy job had a tendency to think his or her hour was worth somewhat more than the hour of the knitter in an armchair.

By the way, the IRS got into the game and declared that all barter hours were taxable! (It was easy for them to acquire a list of those participating.) Unfortunately they refused wreaths and therapy in exchange.

Hi Larissa,

I've been interested in this for a long time, but haven't really done anything about it. It seems to me that one important thing is to have a good amount of BASIC goods and services offered, for example food, housing, dental care, transportation, energy, etc. The alternative economy becomes self-limiting, it seems, if what one can find for exchange is mostly non-basic things like oboe lessons and colon cleansing (not to slam these).

I think there would be good potential for such a thing here in the north bay, and I'd be interested to be part of it.

Neil

The local barter group is known as IMS (International Monetary Systems), formerly known as CTE, fomerly known as TSI, and based in RP. It is an excellent barter group w/ hundreds of local businesses and services offered from accountants, lawyers, auto repair, body workers, clothing, landscapers,resorts and trave, et al.

For new members, it may take awhile to get it all figured out, but once you've been trading a bit and learn the ropes, it's a fantastic alternative way of doing business, but remember, cash is still king.

To speak to their local account rep, call Carol 703-6412. She's great.

I've been trading w/ several national barter groups for many years, and at times when my cash flow is slow, being able to purchase w/ my barter credits (no cash!!), has enabled me to grow my business when I might not have been able to. I highly recommend it!

Tell Carol that Larry from SOAR sent you. I'll get some barter credits in my acct.

Peace,
L2
:yinyang:

Thanx to everyone for thier thoughts and input. I guess some thought I was looking to create a new currency, but I was really just looking to hear others' thoughts on the topic. I like to think of myself as a fairly progressive thinker, but the thought of creating a currency independant of the dollar had never even entered my mind. I know I can count on other Waccos for interesting and stimulating discussion. Perhaps this will be the direction of the future, but right now I am still going to use my dollars or trade for services.
Peace.
-L
:wink:

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Posted in reply to the post by Larissad:

My husband sent me the following link:
https://www.ithacahours.org

I guess in Ithaca, New York a group has created their own community currency called the Hour. There are 900 businesses in their community that accept Ithaca Hours either in addition to or instead of US Dollars. Their goal is to strengthen the local economy and local businesses by keeping the money spent by people in the community in Ithaca. Seems like a very interesting idea and I wonder how something like that would go over around here.

Any thoughts?

-Larissa

:2cents::spentmoney:

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On a similar and inspiring note... This winter's issue of Yes! magazine is devoted to "Going Local: Declaring Independence from the Corporate Global Economy." Local currencies are one of the topics featured.

It looks like Boston is starting up a pilot project with the Interra card, and Southern Mass has developed BerkShares. Both work a lot like Ithaca Hours. I have also heard that the Arcata/Eureka area has started something similar. I would really encourage anyone interested in local living economies to get the issue and share it with your neighbor. The magazine is really solution oriented, has essential resources, and really hopeful stories. There is even a story about a community board, much like Wacco, that helps to generate gift and barter economies.

Feeling inspired...

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Posted in reply to the post by Larissad:

My husband sent me the following link:
https://www.ithacahours.org

I guess in Ithaca, New York a group has created their own community currency called the Hour. There are 900 businesses in their community that accept Ithaca Hours either in addition to or instead of US Dollars. Their goal is to strengthen the local economy and local businesses by keeping the money spent by people in the community in Ithaca. Seems like a very interesting idea and I wonder how something like that would go over around here.

Any thoughts?

-Larissa

:2cents::spentmoney:

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There is a national metals based currency already in circulation:
https://www.libertydollar.org/

Also, the Sebastopol Economic Forum is promoting the development of a chapter of the Business Alliance for Local Living Economies (BALLE) which will eventually develop a member trade exchange.
https://www.livingeconomies.org/

Ruth

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Posted in reply to the post by kfb:

On a similar and inspiring note... This winter's issue of Yes! magazine is devoted to "Going Local: Declaring Independence from the Corporate Global Economy." Local currencies are one of the topics featured.

It looks like Boston is starting up a pilot project with the Interra card, and Southern Mass has developed BerkShares. Both work a lot like Ithaca Hours. I have also heard that the Arcata/Eureka area has started something similar. I would really encourage anyone interested in local living economies to get the issue and share it with your neighbor. The magazine is really solution oriented, has essential resources, and really hopeful stories. There is even a story about a community board, much like Wacco, that helps to generate gift and barter economies.

Feeling inspired...

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Posted in reply to the post by Larissad:

My husband sent me the following link:
https://www.ithacahours.org

I guess in Ithaca, New York a group has created their own community currency called the Hour. There are 900 businesses in their community that accept Ithaca Hours either in addition to or instead of US Dollars. Their goal is to strengthen the local economy and local businesses by keeping the money spent by people in the community in Ithaca. Seems like a very interesting idea and I wonder how something like that would go over around here.

Any thoughts?

-Larissa

:2cents::spentmoney:

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Well, now that the dollar is in worse shape than it was 5 years ago, and like all fiat currencies have historically done, will also die, I'd like to revive this thread and ask you all what has happened locally regarding community currencies and barter since 2007. And what would you like to see happen?

I know the town of Fairfax began issuing Fairbucks, a brass mercantile token worth $3 in Feb 2011. See www.fairbuck.org

Greece is leading the way and barter and the black market are hoppin' there. Necessity is the mother of all invention, so what groundwork can we lay now before things get more intense?

There are many examples of thriving local economy models around the US, and in other countries. An excellent place to start is the E.F. Schumacher Society website (click here).

Here is the scrip from the old alternative currency we had in Sonoma County. It was called Community Cash. The bills had really beautiful artwork on them. I have a stack of it still because no service providers would work for it. I earned it by selling fresh organic blueberries, fresh eggs, and lavender from my garden at a "meet-up" in Sebastopol. When my husband saw me giving away blueberries, he was steaming! But I honestly thought I would be able to spend the dollars for things we needed.

There was a catalog of members and the services they offered. First I called a computer guy to help me with my imac. He said he was too busy. I asked about the weekend. I offered to drive all the way out to West County to get to him. He almost screamed at me, "THAT IS MY FAMILY TIME!" So, then your answer is no? Uh, why did you sign up? I was kind of ashamed that I had tried to get something "free" from a professional, so next I called a bike guy and tried to buy a bicycle tune-up with my Community Cash. "Sorry, I don't do that anymore." Of course not. By the way, this guy was also in West County somewhere. Finally I figured I could at least get some labor for barter. I called a guy who offered yard work and asked him to cut down blackberries. He said he didn't have a car. I said I would pick him up. He said he didn't have tools. I told him I had cutters, gloves, rakes; all he needed to do was the work. We arranged a pick-up point. He did not show up. THE END.

Anecdotal of course, but I learned my lesson: Some people are makers and some are takers. There are a lot of takers around here.

That's some pretty scrip, but too bad nobody wants it when it gets down to action. The solution for this would be to trade in silver coin, something with inherent value that everyone recognizes. The opposite scenario would occur....everyone would be scrambling to do business with you. And businesses would easily give you at least a 10% discount for paying in silver as it's more valuable than dollars. Try pre-1965 90% silver halves, quarters, and dimes aka junk silver as it's been circulated. Everyone recognizes them and the daily value can be calculated at www.silverandgoldaremoney.com and with an iPhone or Android app available there. Four 90% quarters, two halves, or ten dimes ($1 face value) = the price of one ounce of silver, which today is $27.06. Silver is the ultimate community currency! With the added bonus of increasing in value as the dollar crumbles.

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Posted in reply to the post by meagain:

Here is the scrip from the old alternative currency we had in Sonoma County. It was called Community Cash. The bills had really beautiful artwork on them. I have a stack of it still because no service providers would work for it. I earned it by selling fresh organic blueberries, fresh eggs, and lavender from my garden at a "meet-up" in Sebastopol. When my husband saw me giving away blueberries, he was steaming! But I honestly thought I would be able to spend the dollars for things we needed.

There was a catalog of members and the services they offered. First I called a computer guy to help me with my imac. He said he was too busy. I asked about the weekend. I offered to drive all the way out to West County to get to him. He almost screamed at me, "THAT IS MY FAMILY TIME!" So, then your answer is no? Uh, why did you sign up? I was kind of ashamed that I had tried to get something "free" from a professional, so next I called a bike guy and tried to buy a bicycle tune-up with my Community Cash. "Sorry, I don't do that anymore." Of course not. By the way, this guy was also in West County somewhere. Finally I figured I could at least get some labor for barter. I called a guy who offered yard work and asked him to cut down blackberries. He said he didn't have a car. I said I would pick him up. He said he didn't have tools. I told him I had cutters, gloves, rakes; all he needed to do was the work. We arranged a pick-up point. He did not show up. THE END.

Anecdotal of course, but I learned my lesson: Some people are makers and some are takers. There are a lot of takers around here.

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Hi Larissa,
We have been bartering on Bizxchange (Bay Area & beyond) for ten years, and are very happy with them. We recently went on vacation, got prescription eyeglasses and also had our car's AC completely redone. :thumbsup:
-Andrea

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Posted in reply to the post by Larissad:

My husband sent me the following link:
https://www.ithacahours.org

I guess in Ithaca, New York a group has created their own community currency called the Hour. There are 900 businesses in their community that accept Ithaca Hours either in addition to or instead of US Dollars. Their goal is to strengthen the local economy and local businesses by keeping the money spent by people in the community in Ithaca. Seems like a very interesting idea and I wonder how something like that would go over around here.

Any thoughts?

-Larissa

:2cents::spentmoney:

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A barter website for the whole bay area: https://timebank.sfbace.org/

Thanks for sharing this. It's actually a "cooperative exchange" type of alternative system in which you spend and earn "time dollars." What I like about it most is that it avoids entirely the problem of money supply. Instead of banks creating money (for which they get interest), anyone participating can create "money" simply by participating in an exchange. We could use one for Sonoma County (I noticed the bay area web site doesn't include Sonoma Co.!?).

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Posted in reply to the post by ANELE:

A barter website for the whole bay area: https://timebank.sfbace.org/

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It does include Sonoma County: Sebastopol is an option for choosing where you are from. The timebank is not as popular in the north bay but it is just getting started.

There's an exchange going on here for the last cou[le of years, www.sonomacountytimebank.com :heart:

List Of Alternative Currency Systems From Around The World

Breaking News | July 11, 2012 | 3 Comments

(Thomas Dishaw) Below is a comprehensive list of alternative currency systems from around the world. As the economy continues to be propped up by fiat currency and fake data numbers, more and more people are using alternative ways to buy sell and trade for services. View the complete list here.

https://govtslaves.info/wp-content/u...7/picture2.png

That is an amazing list that Europe is creating....some of them are worldwide currencies that can be used anywhere. And L.A.'s online software one is attracting me to look further in to it.

This is a great discussion! And very timely! We would love ( as Occupy Santa Rosa Free School) to hopefully host a Teach-In on the subject, esp if there is something in existence of this type of barter/trade exchange in the North Bay! Even if there isn't, we can definitely get a hold of someone who is really in the know about the subject!
_____________________________________________________________________________________

And on a similar note, OSR Free School is holding a Teach-In this Thursday at Courthouse Square, 6-9pm, with Marc Armstrong of the Public Banking Institute.

Marc is the Executive Director of the Public Banking Institute , and is in the process of forming Public Banking Coalition, to be launched March, 2013. The Public Banking Coalition’s goal is to make sure that people are in charge of their own destiny by controlling the local supply of credit and money available for doing economic transactions.

Click here for the Event Page

www.osrfreeschool.org