Tuesday, November 1, 2011
Local Money Creates Wealth Outside the Bubble
Nov 1, 2011
by Mira Luna
Ever since the crash several years ago, Americans have felt precarious about the nation's economy and the value of its currency. Money seems to take inconceivable, abstract, and even magical forms, traveling around the world at lightening speed with little oversight and obvious mismanagement.
We have little control over it — the value of our currency is tied to conditions well beyond our control. It moves in directions that most of us are vehemently opposed to. We trusted that the banks, Congress, the Federal Reserve, corporations and Wall Street are managing money responsibly on our behalf, particularly with retirement funds and mortgages, but lately that trust has been broken. In response, local currencies have drawn interest from Occupy and other economic resistance groups to create an alternative to state-controlled money.
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