Community currencies vs. Alternative currencies

Thanks to LJuserGoodall for asking about bitcoin, which I do

not support. Bitcoin is an alternative to national currencies

which is often used for money laundering and other nefarious

purposes. It actually does precisely the opposite of what a

community-based currency is intented to do, which is increase

transparency and decrease anonymity. Community-created

currencies are meant to circulate only within local

communities, as a complement to the national currency, thus

increasing both access to and availability of money to those

who might otherwise not have access to national money.

(Search Ithaca Hours.org or Anacostia Hours for details.)

Time Banks are another complementary currency created by

people in local communities to supplement the national

money supply. These are not meant to be universal

currencies. Please see Robert Mundell’s work, which I cite in

“Shared Monetary Governance” on Optimal Currency areas.

As he said, The World is NOT an Optimal Currency Area.

Regions differ by product, output, resources, etc, and

therefore need different currencies. The USA for instance,

should actually be four currencies areas, not one, so when the

Fed raises interest rates, that change affects different regions

of the country differently, affecting inflation and

unemployment differently across different parts of the country.

Sir John Maynard Keynes proposed an international currency

in 1944 which would have solved some problems, but it was

rejected by the American delegation to the Bretton Woods

conference.

Please, Go learn more!
Shira
Meow Date Saturday, April 21, 12014 H.E.

https://network23.org/communitycoop/2014/04/22/community-currencies-vs-alternative-currencies/