Local Currency Most Popular Since Great Depression

Communities around the country are printing “scrip” at the highest rate since the Great Depression says Agora Financial

Behold the “Plenty” an alternitive currency printed and exchanged exclusively in Pittsboro, N.C., population 2,500. A couple dozen Pittsboro stores accept it as a dollar alternative, like the local feed store and a produce co-op.

The idea is nothing new… we’ve chronicled scrips like the Ithaca HOUR and Western Mass’ BerkShare for some time. Both have millions worth in ciculation.

But according to the LA Times, scrips haven’t been this popular since the Great Depression. They’ve gained significant traction in New York, North Carolina, Michigan, Colorado, Arizona and Massachusets, with many more commonities beginning to experiment.

And we’re noticing a decidedly less hippie, more snarky feel: "The Plenty is not going to get siphoned off to Wall Street,” says B.J. Lawson, president of The Plenty co-op board, “or Washington, or make a stop in Bentonville on its way to China.” In Mesa, Ariz., locals are using Mesa Bucks to essentialy stick it to the man… bring a sales receipt from inside city limits to the local arts center and they’ll give you a percentage of your sales tax back in Mesa Bucks.

So much for “E Pluribus Unim”

Comments

  1. When are Catholics going to "stick it to the man" and establish their own credit union?

    ReplyDelete

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