How to Start a Community Currency

| 10/17/2012 11:34:01 AM

 Ithica Hours Note
An Ithaca Hour 

[Editor's note: Aside from looking cool, community currencies are a grassroots answer to economic uncertainty and the high concentration of wealth amongst a very few. They encourage local spending and remind us to consider where money goes after it leaves our wallets. If we buy a rake from the local hardware store rather than a franchise superstore, for instance, we help sustain a neighbor as opposed to an already-rich business owner several states away. By keeping money circulating amongst community members, local currencies reward businesses invested in the community and encourage a self-sustaining interdependence. Local currencies are not meant to replace the almighty dollar, but they do offer some assurance to small and midsize businesses facing a weak economy. As Joel Stonington noted in an piece, "Local Currencies Aren't Small Change," money can be used to serve people rather than to rule them, creating abundance, stability, and sustainability. The article below explains how to develop your own community currency and was originally posted on Shareable.]  


 Lewes Pound
The Lewes Pound, a local currency in the town of Lewes, England. As Thomas Paine said, "We have it in our power to build the world anew." 

“Banking institutions are more dangerous to our liberties than standing armies ... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." - Thomas Jefferson

“Let me issue and control a nation’s money and I care not who writes the laws.” - Banker Mayer Amschel Rothschild

The centralized creation of money and credit has a profoundly negative effect on local economies, sovereignty, and cohesiveness. Bankers value profit at all costs, while locally-controlled institutions tend to hold other values - like community, justice and sustainability - more highly.

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