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Online Community Lesson

 

Is It Legal to Print Money?  Yes.

Student-authored and teacher-edited

       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 federal money.

            If you answer these multiple-choice questions and e-mail to
lessonanswers@mymontebello.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 imposition?

       (a)    a tax,

       (b)    a local currency,

       (c)    a user fee.

   2. What makes a local currency work?

      (a)    trust,

      (b)    a gold reserve,

      (c)    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?

     (a)    enlist businesses to use the local currency,

     (b)    sit on a board of directors,

     (c)    sit on an advisory committee.

December 13, 2006

 

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    HOME  | "E-News" | Life's Problems  | "Montebello Oil" | Open Suggestion | Public Documents | Setting an Example | Young Thinkers | Project Instructions
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