North Carolina Town starts to use it's own currency.

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Ken C's picture
Ken C
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North Carolina Town starts to use it's own currency.

 

A small town in N. Carolina is using it's own local currency the "Plenty". It can be used for local purchase in town. I wonder how long it will be before the Treasury department raids them?

 

http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=12875910&ch=...

 

 

 

 

Croatoan's picture
Croatoan
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Re: North Carolina Town starts to use it's own currency.

I lived in Carrboro, NC for 10 years and I was there when the Plenty first cam out in 2001. I was working in a co-op and had to explain to people over and over what it was. Argh. It died a slow death and the co-op would take them but not give them out. He said it is on going, ha! It was a good idea but people could not wrap their heads around the simple idea. They thought it was faker than the fake money they already had. 

Funny that FOX sNews said the idea is brilliant. If they only knew how liberal these towns are!!! In fact, they was called it  

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RNcarl
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Re: North Carolina Town starts to use it's own currency.

Gosh,

How disrespectful those Fox News guys were. They were almost blatently mocking the Mayor. I am really shocked. It will be really funny to them when they can't buy a Latte for a wheelbarrow full of dollars!

 

FWIW - C.

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Fivemileshigh
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Re: North Carolina Town starts to use it's own currency.
kenc wrote:

I wonder how long it will be before the Treasury department raids them?

Never. Why?

 "The PLENTY meets all criteria for legal scrip as defined by the
IRS, Federal Reserve, and Treasury Department. Among these are the
provisions that the PLENTY must:

  • Have a U.S. dollar equivalent (for taxes)
  • Not look like U.S. currency
  • Equal at least $1 in value"

the Plenty is basically a dollar. When you will need a wheelbarrow full of dollars to buy a latte, you will also need a wheelbarrow full of plentys. The plenty is a copy of a fiat currency, thus fiat by definition and not an answer to any of today's or history's problems with fiat currencies.

 

 

 

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cat233
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BJ Lawson on Fox Business today discussing the PLENTY

This morning I received this from BJ's site:

Just a quick note to let you know I'm going to be on Fox Business around 2:20pm this afternoon to discuss my work reinvigorating our local currency, the PLENTY.

As all true free market advocates know, we can't have a free market when money and credit are under monopoly control. Our region of North Carolina had the benefit of forward-thinking activists who launched a community currency in 2001, and I've been working with a talented group of folks to reinvigorate and relaunch the currency since last fall.

Why might a community embrace a local currency? A local currency circulates within a community, encourages self-sufficiency, and spurs economic growth the old-fashioned way -- encouraging and rewarding people for helping other people. It is also a stepping stone to a desperately-needed education about the nature of money itself -- as people use a local currency, they start asking basic questions about money and its relationship to a healthy economy.

We're still a few weeks away from our relaunch as a fully-reserved community currency in partnership with Pittsboro's Capital Bank, but an article in the USA Today on Monday triggered a wave of media attention highlighting our work to grow our economy by asserting our most basic economic freedom. If you'd like to follow our progress, and learn more about local currencies in general, please visit our Web site at www.theplenty.org.

It's ironic that my former opponent is still in Washington trying to "help" by TARPing, TALFing, and PIPPing us to death. If you're tired of being TARPed, TALFed, and PIPPed, why don't you try doing business in a local currency for a change?

In liberty,

BJ

 

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
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BJ Lawson on Fox to Discuss NC Local Currency
Fivemileshigh wrote:

Never. Why?

 "The PLENTY meets all criteria for legal scrip as defined by the IRS, Federal Reserve, and Treasury Department. Among these are the provisions that the PLENTY must:

  • Have a U.S. dollar equivalent (for taxes)
  • Not look like U.S. currency
  • Equal at least $1 in value"

the Plenty is basically a dollar. When you will need a wheelbarrow full of dollars to buy a latte, you will also need a wheelbarrow full of plentys. The plenty is a copy of a fiat currency, thus fiat by definition and not an answer to any of today's or history's problems with fiat currencies.

Five -

Perhaps.  Who's to say that the locals haven't defined a standard to back their Plenty?  Sure, meet the provisions you mention, "wink, wink, nudge, nudge" but back it in tomatoes, or peaches or firewood or whatever the community agrees to.  The day may come where you need a wheelbarrow full of dollars to buy a gallon of milk, but you only need a single Plenty to buy the same gallon in that community?

Stranger things have happened.  I wouldn't be surprised to see this happen more frequently - at some point, the T men won't have enough resources to enforce laws governing scrip exchange.  What's next, taxation on barter?  If I exchange 6 tomatoes for a haircut will the IRS accept a brussel sprout for tax?

Regardless, I'm going to tune in the Fox Business segment to watch BJ Lawson.  We've known BJ for about 6 years and he is the kind of leader we need in DC now.

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joe2baba
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Re: North Carolina Town starts to use it's own currency.

amazing.......... i find myself agreeing with diap

we are establishing a local currency here in nwa and will have paul glover of ithaca hours here in may to launch our efforts.

we also have a barter system and a time bank up and running.

i like the idea of the currency because it simplifies the record keeping and expands the community.

 a local currency is  backed by the commodities and labor of the individuals participating so it is not exactly the same as a fiat currency. it is not meant to replace fiat currency at least not now but to be a complementary currency.

our current fiat currency, frns' are no longer a store of wealth but a symbol of debt

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yoshhash
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Re: North Carolina Town starts to use it's own currency.

I didn't sense any mocking in the interview.  Fox can be very intolerant and annoying sometimes, but I think their ribbing was in good humour.

This is brilliant- an excellent pre-emptive response to an imminent currency collapse- it is neither new nor risky, (or at least no riskier than the current, conventional model of currency.  Of course you need controls in place, because it is vulnerable to corruption like anything else.  I am not an expert by any stretch, but smaller systems do have transparent accounting records available for anyone to see.).  I am glad to see this getting some genuine airtime.

I think barter or local currency is a viable if not vital alternative to surviving the "next stage", am surprised there isn't more discussion on this site- tried bringing it up before, but there wasn't much interest:

http://www.peakprosperity.com/forum/lets-barter-systems/12388

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