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(USA Today)   To combat cash shortages, communities begin printing their own money. Excuse me, do you have change for 20 Detroit Cheers?   (usatoday.com ) divider line
    More: Interesting  
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2624 clicks; posted to Business » on 06 Apr 2009 at 11:52 AM (7 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2009-04-06 08:27:31 AM  

img21.imageshack.us



Once again, the wampum heavy portfolio pays off for the chowderhead investor!
 
2009-04-06 08:55:59 AM  
I can't wait to hear the story about somebody trying to pay for their meal at Taco Bell with 3 Cheers ;)
 
2009-04-06 11:33:29 AM  
tomorrows news: local detroit businesses bankrupted by rampant counterfeiting
 
2009-04-06 11:56:35 AM  

NewportBarGuy: Once again, the wampum heavy portfolio pays off for the chowderhead investor!


biggest laugh i've gotten all day
 
2009-04-06 11:57:59 AM  
Great idea
 
2009-04-06 11:58:25 AM  
How long until Glenn Beck starts crying about this as evidence of our dissolving union?

(you know, because it's easier for the socialists to take over the US if the states are no longer working together!)
 
2009-04-06 11:58:39 AM  
that's why the Government regulates the Consolidation of Industry and regulates Trade overseas.

so our Towns and smaller cities do not disappear and our economy stays strong and diverse.

but............


our little crony capitalist swine moved into DC with their lobbyists and dismantled these regulations and laws so they could make more money and have more control of their markets.

and of course, the GOP was leading the way..........


cheers!

/dev/null/GOP
 
2009-04-06 11:59:22 AM  
www.shanghai-ultimate.com
/Approves
 
2009-04-06 12:09:38 PM  
Came here for the Canadian Tire reference. Leaving satisfied.
 
2009-04-06 12:09:58 PM  
Maybe my drawer full of Schrute Bucks will be worth something after all...
 
2009-04-06 12:10:33 PM  
Um. How is this even legal? I thought the Fed had a total monopoly on the printing and circulation of currency?
 
2009-04-06 12:14:37 PM  

WALMART.saves: Um. How is this even legal? I thought the Fed had a total monopoly on the printing and circulation of currency?


Try reading the article first, and then get back to us.
 
2009-04-06 12:14:59 PM  

WALMART.saves: Um. How is this even legal? I thought the Fed had a total monopoly on the printing and circulation of currency?


Wouldn't this work in the same way gift cards and those Toys - R - Us dollars do?
 
2009-04-06 12:16:55 PM  

I Said:
Wouldn't this work in the same way gift cards and those Toys - R - Us dollars do?


No, most prostitutes won't accept this homemade stuff.
 
2009-04-06 12:18:40 PM  
i believe mississippi tried this a few years ago with their mississippi fun bucks. didn't work out so well as i recall.
 
2009-04-06 12:20:10 PM  

StRalphTheLiar: I Said:
Wouldn't this work in the same way gift cards and those Toys - R - Us dollars do?

No, most prostitutes won't accept this homemade stuff.


That's cool. I pay prostitutes with "rape dollars"
 
2009-04-06 12:20:55 PM  
I fail to see how this works. If you exchange $9 for 10 whatevers, why dont the businesses just discount their products 10% and use real dollars instead of wasting real money to print the funny money.
 
2009-04-06 12:25:34 PM  

Postal Penguin: I fail to see how this works. If you exchange $9 for 10 whatevers, why dont the businesses just discount their products 10% and use real dollars instead of wasting real money to print the funny money.


The funny money can't be used outside of town.

So if "Bob's Dildos" is in on this, you'll spend your "Burlington Buttseckians" there as opposed to the mega chain "Anal Depot".

Now if "Bob's Dildos" simply discounted their fuzzy handcuffs by 10%, the ones at "Anal Depot" might still be cheaper and you may go there anyway.

The "Buttsecksians" basically force you to buy from local sex shops.
 
2009-04-06 12:30:28 PM  

Postal Penguin: I fail to see how this works. If you exchange $9 for 10 whatevers, why dont the businesses just discount their products 10% and use real dollars instead of wasting real money to print the funny money.


Idea is convenience. You buy the gimmicky dollars, then get stuck with it and in a pinch later you just go local instead of anywhere else because it's what you happen to have on you. The change you get back is probably in their form too, so you can't even spend that.

It's all about value ultimately. If your time is worth more to you, you'll shop locally.

Frankly, I don't get the big deal of local shops. In a lot of domestic products [clothing for instance] the local shops are just as bad in terms of quality as say walmart, target, zellers, whatever...

When I see immigrant running a small shop, I don't immediately think "hard worker doing their best to service me" I think "jackass who will cut corners and jerk me around as much as humanly possible."

Long gone are the days of the hard working immigrant [at least the image of it] coming here to make a buck and have honour/etc...

Not to say most people [of any origin] really have a lot of honour, compassion, and decency. But I'd prefer that when I get screwed by someone that they UNDERSTAND my language when I call them a donkey-raping sheep farmer...

:-)
 
2009-04-06 12:38:18 PM  
They should have called them beenz or flooz.
 
2009-04-06 12:43:01 PM  
Were I a shop owner, I would accept an established local currency, but would establish an exchange rate that allowed cover the cost of converting the money back to US dollars. I would certainly not accept any currency like this at par value. If the bank gives you 10 for $9, I would accept the currency at a 20% discount, and then undercut the bank to get US dollars back at a $8.50 for 10 rate, pocketing the difference.
 
2009-04-06 12:44:42 PM  
How would this affect inflation?
 
2009-04-06 12:45:27 PM  
This has been done over and over again throughout American (not to mention human) history. It actually can work reasonably well in a localized, tight-knit community.
 
2009-04-06 12:48:13 PM  
Sweet! Where can I use Kongbucks? Can I take my katana there?
 
2009-04-06 12:52:29 PM  
Yay! Disney Dollars!

/I, personally, like real currency
 
2009-04-06 01:04:22 PM  
Gimme five bees for a quarter!
 
2009-04-06 01:09:28 PM  
Is this where they talk about the ivy league rich kids in upstate new york "alternative" currency which their parents subsidize?

/DNRTFA
 
2009-04-06 01:10:02 PM  
I assume the detroit cheer would be the peso of the lot?
 
2009-04-06 01:15:55 PM  

StRalphTheLiar: I Said:
Wouldn't this work in the same way gift cards and those Toys - R - Us dollars do?

No, most prostitutes won't accept this homemade stuff.


Are disposable diapers still tradeable for services?
 
2009-04-06 01:27:08 PM  

carmody: It actually can work reasonably well in a localized, tight-knit community.



Well, I guess it's a good thing that we don't live in an age of globalization where almost anyone can reach out for goods and services to vendors all over the world and our economies are globally interdependent.


Jedi_Templar: Sweet! Where can I use Kongbucks? Can I take my katana there?



Since I'm reading that book right now, I came in here looking for this comment. :)
 
2009-04-06 01:32:47 PM  
psc.disney.go.com
We've had a Disney Dollar based alternate economy in Florida for some time. Just don't try to tip the strippers with them.
 
2009-04-06 01:39:22 PM  
Workers with dwindling wages are paying for groceries, yoga classes and fuel with Detroit Cheers, Ithaca Hours in New York, Plenty in North Carolina or BerkShares in Massachusetts.

WTF...

How the f*ck do you pay for yoga classes when you have to buy other necessities and you have no money?
 
2009-04-06 02:14:37 PM  
AC/DC approves
www.singingfool.com
 
2009-04-06 02:29:46 PM  
If anybody starts printing money illegal, they should be arrested.

Just ask those Ron Paul terrorists and their gold coins.
 
2009-04-06 02:30:09 PM  

Postal Penguin: I fail to see how this works. If you exchange $9 for 10 whatevers, why dont the businesses just discount their products 10% and use real dollars instead of wasting real money to print the funny money.


Because you can't spend that money anywhere else. You can't walk into Walmart and send that $9 to China or Taiwan. Businesses that accept the money guarantee that the money stays in the community, people that are given the money are forced to spend it in the community.

Not saying that's how it'll work, but that's the theory.
 
2009-04-06 02:35:54 PM  

Funk Brothers: If anybody starts printing money illegal, they should be arrested.

Just ask those Ron Paul terrorists and their gold coins.


Yeah, isn't this illegal? Something about "for all debts".

darkscout: Postal Penguin: I fail to see how this works. If you exchange $9 for 10 whatevers, why dont the businesses just discount their products 10% and use real dollars instead of wasting real money to print the funny money.

Because you can't spend that money anywhere else. You can't walk into Walmart and send that $9 to China or Taiwan. Businesses that accept the money guarantee that the money stays in the community, people that are given the money are forced to spend it in the community.

Not saying that's how it'll work, but that's the theory.


Interesting.

i'd just trade in my Detroits for real dollars when i leave the park, then send those to China.
 
2009-04-06 02:36:58 PM  
For you SCA folks, we've been doing this in An Tir for a few years now, thanks to the Moneyers' Guild.
 
2009-04-06 02:41:50 PM  
20 Bronx cheers are more likely.
 
2009-04-06 03:10:09 PM  

FormlessOne: For you SCA folks, we've been doing this in An Tir for a few years now, thanks to the Moneyers' Guild.


Vivant!
 
2009-04-06 03:16:01 PM  
Isn't the Berkshires already a rich area of western Mass? Why do they need this?
 
2009-04-06 03:59:03 PM  

Daroc: Isn't the Berkshires already a rich area of western Mass? Why do they need this?


Obviously because Benjamins' ain't what they used to be.
 
2009-04-06 04:22:56 PM  
So who pockets the difference between the real money and the fake money?
 
2009-04-06 05:21:37 PM  
The IRS gets its share. When someone pays for goods or services with local money, the income to the business is taxable, says Tom Ochsenschlager of the American Institute of Certified Public Accountants. "It's not a way to avoid income taxes, or we'd all be paying in Detroit dollars," he says.

See, this is where I get off this idea.

One of the best purposes of a barter system is to screw the tax man. For example, my city council has run things so badly for several years now that they're crashing the ship into the farking reefs with a $5 million budget deficit. Service cuts, higher taxes, and employee layoffs are in the near future for my city. As the consequence of one major bad decision made a couple years ago, I do EVERYTHING possible in my efforts to avoid giving my city any sales tax revenue. I buy EVERYTHING in the twin city right next to us - gasoline, groceries, liquor, and anything else I can get away with. I now order more stuff via the internet than I ever did before, because I figure that the shipping pretty much costs the same as the tax on substantial purchases. Last month, when they city announced the $5 million budget deficit, I was PROUD to be part of the problem, and I hope my actions encourage more people to boycott my city until they right the ship.

The "starve the beast" course of action is the only direct check that the people have on the actions of their government. If you refuse to give them the money to operate things that you feel are going wrong, they have to change their course to win your favor. Every citizen has the duty to themselves and others to structure their financial affairs so as to present the lowest possible tax burden to the government.
 
2009-04-06 06:35:58 PM  
The "starve the beast" course of action is the only direct check that the people have on the actions of their government. If you refuse to give them the money to operate things that you feel are going wrong, they have to change their course to win your favor. Every citizen has the duty to themselves and others to structure their financial affairs so as to present the lowest possible tax burden to the government.

Evil corporations are brought down this way as well. The power of the purse.
 
2009-04-06 09:48:16 PM  

WALMART.saves: Um. How is this even legal? I thought the Fed had a total monopoly on the printing and circulation of currency?


It is no more illegal than you and I trading an Xbox for a set of tires. T If you will accept me 1,000,000 mononoply dollars for washing my car, there is nothing stopping you.

he only illegal part is when you try to cheat the tax man or try to pass it off as legal tender. The other thing is if you start getting moderately successful. The only illegal part is when you try to cheat the tax man or try to pass it off as legal tender.

Still the guys in charge don't like it. Just ask these guys (new window) how the government like a currency that has even a hair's chance of competing with the Federal Reserve,
 
2009-04-06 10:58:13 PM  
Does this mean that they'll bring back 69 cent dollars?

/obscure?
 
2009-04-06 10:59:43 PM  
I was going to say this is not news since Ithaca, New York has been doing this for some years now, but then I remembered that It's not news, It's Fark.com. From what I understand, it's not illegal as long as it doesn't resemble real currency, and you don't try to cheat the tax system.
 
2009-04-06 11:51:49 PM  
Postal Penguin: I fail to see how this works. If you exchange $9 for 10 whatevers, why dont the businesses just discount their products 10% and use real dollars instead of wasting real money to print the funny money.

It's the same reason why retailers love gift cards. When you buy the gift card/funny money it is usable only in that store which means when someone gives you the gift card you have to shop there. This takes advantage of two things.

One: The store already has the cash so they don't care if you spend the gift card balance.

Two: If you go to the store, you as a consumer are inclined to get the whole balance out of the gift card but inevitably it means you will go over the amount of the card meaning the store gets even more money.

The stores would much rather you give a gift card to someone instead of cash because the card forces a purchase at their store. Cash can be spent anywhere.
 
2009-04-07 04:34:55 AM  

wingnut396: Still the guys in charge don't like it. Just ask these guys (new window) how the government like a currency that has even a hair's chance of competing with the Federal Reserve,


Wow. So all those "we accept the Liberty Dollar" stickers that I've seen weren't referring to the latest incarnation of the Dollar coin?

/Pretty epic fail on their part
//Americans are far from accepting any dollar coin anyhow
 
2009-04-07 10:49:30 AM  

eddyatwork: Postal Penguin: I fail to see how this works. If you exchange $9 for 10 whatevers, why dont the businesses just discount their products 10% and use real dollars instead of wasting real money to print the funny money.

It's the same reason why retailers love gift cards. When you buy the gift card/funny money it is usable only in that store which means when someone gives you the gift card you have to shop there. This takes advantage of two things.

One: The store already has the cash so they don't care if you spend the gift card balance.

Two: If you go to the store, you as a consumer are inclined to get the whole balance out of the gift card but inevitably it means you will go over the amount of the card meaning the store gets even more money.

The stores would much rather you give a gift card to someone instead of cash because the card forces a purchase at their store. Cash can be spent anywhere.


there are whole website dedicated to trading unwanted gift cards. so getting some cash is not a problem.

What you are doing with a gift card is "creating money" and giving the company a free loan. These companies know that a they will have a certain amount of gift card money balance that is pretty constant. What do they do with that money, oh yeah: fund operations, get more stuff to sell or invest they that balance. Home Depot effectively becomes like an old school fractional reserve bank with the ability to "print" its own money.
 
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