Online Community Lesson
Is It Legal to Print Money?
What if we could keep the money being spent in Montebello in Montebello?
While not very easy it is feasible. The
method by which we could do this is by creating a local currency. Over
seventy communities in America have done so.
A local currency would operate much like any
other currency, only in small
geographical regions, like Montebello.
Local businesses would sign up to accept
the local currency, which would not
be backed by gold, silver, or rice like normal
currencies; rather it would be backed by trust. By having a localized
currency we would be able to keep money in
Montebello and, importantly, we would be able
to pay people to do socially-useful activities, like tutoring middle schoolers,
reducing graffiti, and helping senior citizens fill forms.
Local currency is just as “real” as our
federal money, because each of them is backed by trust. Each is declared to
be money by an authority, which
could be either the local government or a
board of directors made up of respected
community leaders. Local currency differs in that it must not look like
If you answer these multiple-choice
questions and e-mail to
email@example.com, with “E-News
answers” in the subject field, you will be credited toward a “certificate of
recognition in community affairs”
to be awarded in 2007 by a local nonprofit organization.
1. What is one
way to pay for tutors, graffiti reduction, and senior
services, with no
a local currency,
a user fee.
2. What makes a local currency
a gold reserve,
copying the pictures on federal money.
3. Your help would be valuable in
setting up and using a local currency.
What would you be most willing to do?
enlist businesses to use the local currency,
sit on a board of directors,
sit on an advisory committee.
December 13, 2006