Date: 2025-07-01 Page is: DBtxt003.php txt00004080
There are many hundreds of alternative currency systems working today around the world. The idea has slowly gained momentum over the past thirty years, but especially since the Great Recession started in 2007.
An alternative currency, community currency, TimeBank or LETS (Local Exchange Trading System) are similar, and function to make it possible for local area business to function independent of the behavior of the global capital and credit markets and macro-economic policy constraints.
National money is not backed by anything other than the credit of the issuing authority, and is manipulated at will by these authorities. Furthermore, most economic transactions are facilitated not by money but by 'bank-controlled' credit.
A community currency is backed by the faith and credit of the community and its issuing authority. They are working at a modest scale in several parts of the United States including Ithaca Dollars and Berkshares in nearby regions.
Please get in touch with me to explore ways to get an alternative currency established.