Saturday, August 29, 2009

Basis of Community Currency Issuance

Backed by a person’s commitment to volunteer/spend time either in the future or hours already earned in a LETS or Timebank
Backed by a business’ promise to allow redemption for goods or services or a discount for them
Backed by a community loan which will eventually be repaid (especially good for import replacement)
Backed by a grant to an organization to provide some common good to the community
Backed by US dollars in a bank
Backed by a commodity- gold, silver, food security, a commodity basket

1 comment:

  1. Jct: I don't have much gold, silver, food, dollars in a bank, but I, like most paupers, do have time. Glad you included it as one of the worthy collateral standards of money.
    Imagine a world with the Time Standard of Money equal to the Gold Standard of Money, humanity equal to the piece of yellow rock for the first time in history world-wide.