Is This The Way Around The Fed?
In the Berkshires, the bills are printed on the same paper as U.S. currency and by the same company — Crane & Co., based in the Berkshires town of Dalton, Mass. They feature local artists, heroes and historical figures and come complete with individual serial numbers, making them a tough target for counterfeiters. The program is made possible through private grant funding.
Roughly 2.3 million minted BerkShares have circulated through the community since the program's launch in 2006. Matt Rubiner, owner of Rubiner's Cheesemongers & Grocers, stands behind the local currency. "Philosophically, it's very much along the lines of the foundations that we set up our store under. Supporting local, sustainable producers. Keeping the community local wherever possible and so, when the BerkShares came along, that was right up our alley. We really embraced it," Rubiner said.
His shop takes special effort to buy local products and support local dairy farmers. "We begin to feel we can take care of ourselves maybe a little bit better," he said "Maybe it does bind us a little more closely."
Customer Heather Fisch stopped by Rubiner's to try a slice-of-the-day, saying she's a big supporter of BerkShares. "I think it's nice to have a constant little reminder that we're a community and we're in it together," Fisch said. "It's kind of like a Great Barrington pride moment. I'm a citizen of Great Barrington. Here's my BerkShare."
Historically, it's not a new phenomenon. Local communities printed their own currency during past recessions, as recently as the 1980s. During the 1860s, local banks printed money. New England's mills often paid their employees in scrip, a system of payment that could only be used at a company store or in the local town.
Robert Bench, a senior fellow at Boston University and former National Bank supervisor, says local currency efforts have proved successful in the past, helping to encourage consumers spend close to home. "I think it brings out the community spirit that's in everybody's self conscience," he said.
5 Comments:
Interesting, but not really a viable way around the fed... I can't see it happening in a big city -- and obviously it only works locally: too many people make their living with "longer range" commerce.
04 15 09
If this trend continues, and there is reason to believe it may (e.g. Texas and 10th amendment stand) then I see Balkanization occuring and wonder if we will be a united set of states anymore. Personally I like the idea of local currencies, but as RR points out considering the distance scales with commerce nowadays, exchange rates across regions would be an interesting thing to consider.
burberry outlet online, louis vuitton outlet, oakley vault, longchamp outlet online, michael kors outlet online, true religion outlet, louis vuitton, true religion, polo ralph lauren, christian louboutin, ray ban outlet, louis vuitton outlet, michael kors outlet store, louis vuitton handbags, kate spade outlet online, christian louboutin shoes, tory burch outlet online, coach outlet, red bottom shoes, coach purses, christian louboutin outlet, longchamp handbags, coach outlet, burberry outlet online, nike air max, jordan shoes, michael kors outlet online, cheap oakley sunglasses, tiffany and co jewelry, gucci handbags, prada handbags, polo ralph lauren outlet, nike outlet, prada outlet, tiffany jewelry, michael kors outlet, oakley sunglasses, chanel handbags, longchamp outlet, ray ban sunglasses, nike air max, kate spade outlet, michael kors handbags, coach outlet store online, nike free, michael kors outlet online, louis vuitton outlet online
bottega veneta, hollister, canada goose outlet, insanity workout, chi flat iron, ghd, uggs outlet, asics shoes, nfl jerseys, reebok shoes, ugg soldes, valentino shoes, ugg, north face jackets, jimmy choo shoes, canada goose outlet, nike huarache, beats headphones, longchamp, canada goose, north face jackets, new balance outlet, herve leger, mcm handbags, wedding dresses, mont blanc pens, instyler ionic styler, soccer jerseys, uggs on sale, ferragamo shoes, vans outlet, mac cosmetics, ugg boots, replica watches, babyliss, abercrombie and fitch, uggs outlet, nike roshe, ugg outlet, ugg boots clearance, nike trainers, giuseppe zanotti, lululemon outlet, canada goose outlet, marc jacobs outlet, birkin bag, p90x workout, celine handbags, soccer shoes
moncler outlet, links of london uk, coach outlet, ray ban, nike air max, juicy couture outlet, pandora uk, louis vuitton canada, louboutin, juicy couture outlet, canada goose, timberland shoes, converse, thomas sabo uk, montre femme, moncler, canada goose pas cher, uggs canada, pandora jewelry, hollister, converse shoes, pandora charms, moncler, hollister canada, supra shoes, ralph lauren, ugg, canada goose, moncler, moncler, lancel, replica watches, canada goose, gucci, swarovski jewelry, moncler, hollister clothing, karen millen, air max, parajumpers outlet, iphone 6 case, wedding dress, toms outlet, oakley, baseball bats, vans, moncler outlet, swarovski uk
Post a Comment
Subscribe to Post Comments [Atom]
<< Home