Published Articles
Community Currency: The Future of Money Here Today
Neighborhoods eyeing separate currency
Published: Dec. 3, 2008 MILWAUKEE,
Dec. 3 (UPI) — Two neighborhoods in Milwaukee should employ a retail system involving a separate form of currency to help promote local spending, supporters say. Community organizers such as Sura Faraj have proposed the creation of unique form of currency that can be used in the city’s River West and East Side neighborhoods at local businesses, the Chicago Tribune said Wednesday. Faraj said the purpose of the locally printed funds would be to encourage spending at local businesses instead of retail chain stores.
“You have all these people who have local currency and they’re going to spend it at local stores,” Faraj said. “They can’t spend it at the Wal-Mart or the Home Depot but they can spend it at their local hardware store or their local grocery store.”
To help draw in consumers, plan organizers have proposed accepting $100 in U.S. currency for $110 in the specialized funds. The Tribune said the currency proposals would be legal to implement as long as the paper currency doesn’t resemble federal bills and if organizers don’t create their own coinage system. (© 2008 United Press International, Inc. All Rights Reserved.)
For more great information on Community Currency please see our May 2008 “Special Community Currency Issue” Also be on the look out for our January 2009 “Sound Money Silver Issue” and in February please see our Community Currency Issue Number two.
DGC Magazine Community Currency Issue
