Tuesday, June 5, 2007

You Say You Want Some Devolution...


With the information technology available today, the potential for success for alternative currency schemes like this would seem to be greatly increased. Easy access to high-quality printing (for those that want bank notes) or secure and simple online purchasing agreements will help lower the barriers to entry for alternative currencies. When transaction costs drop for currencies that compete with centrally controlled sources of bank notes and credit, we can expect to see more of them, especially if those centrally controlled sources of bank notes follows a path that destroys the value of that official currency.


Town poised for its own currency
from the BBC
A south Devon town has taken a step towards having its own currency after a month-long experiment.

Three hundred Totnes pounds were printed in March for circulation only in local outlets.

Eighteen shops joined Transition Town Totnes (TTT), a new group campaigning for a more self-sufficient community.

We can expect amusement by the authorities at first, probably followed by panic and draconian laws prohibiting such currencies in the future if the national currencies fail to hold value in the face of massive Welfare State obligations.

Another sign that smaller and smaller groups are looking to provide for themselves.

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