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Communities print their own currency to keep cash flowing

Posted by dave_donhoff (dwdonhoff@hotmail.com) on
Tue, Apr 7, 09 at 17:03

Communities print their own currency to keep cash flowing

http://www.usatoday.com/money/economy/2009-04-05-scrip_N.htm

<_SNIP>
A small but growing number of cash-strapped communities are printing their own money.

<_/SNIP>

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.

<_SNIP>

One DOES wonder, however, how long until someone issues "local scrip" that is NOT tied to the US Dollar, but rather to a durable specie, such as gold or silver....

THEN it will have an anti-inflation function!
(Which could piss off the government.)

Perhaps its time for "Nomad Scrip"?
Dave


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