Local Currency, do you live in an area or near an area that has local currency?

@writersedge (22579)
United States
October 24, 2008 10:32am CST
Ithaca, NY, USA prints and distributes local currency. They're having a meeting on Wednesday, 29 October, in which $10 can be exchanged for $40 Ithaca Hours. See more at http://www.ithacahours.com/ They started in 1991 and now many places (thousands) take the local currency as well as the American Dollars. They started a local currency movement. www.ithacahours.org Now many states in the US plus three provinces in Canada as well as several countries around the world, Mexico, Argentina, Urugay, Japan, and Thailand as well as at least one country on the Continent of Africa (to name a few, have at least one and sometimes as many as three or four places that print and use local currency). To find out if there is somewhere near you that prints and uses local currency, check: http://www.ithacahours.com/otherhours.html Why have local currency? There are many reasons: It doesn't leave your area, it has to be spent there. So people have to find ways to spend it and that might be buying your goods or services instead of buying from imported. People need work and money. Some areas have tons of work, but money is getting exported faster than money can come in. See either of the two top sites listed to get a better understanding of all the reasons people do it as well as how it works. So do you live near any areas that print and use local currency? Do you use it? Has it increased your standard of living? Your customer base? Helped your community? If you don't live near one, would it be something you think your community should look into? Why or why not?You can comment on the pictures of the money, too. I like the 1/8 note salamander and the Native American picture. I like that some of the notes are printed on Cattail paper. There is just so much to love about all this. I like that the Ithaca HOURS are backed by work. I welcome your input both pro and con. I'm trying to convince people to do it here and I need to know both positive comments and people's objections to more effectively promote my cause. I wish Ithaca wasn't so far away, I'd love to go to that meeting. I hope someone here is from Ithaca and can comment or report back. Thanks and take care.
1 person likes this
2 responses
• Philippines
24 Oct 08
I actually live in a country with a different currency than yours.
1 person likes this
@writersedge (22579)
• United States
24 Oct 08
Your dog avatar is sooo adorable! Local currency is defined in my discussion on top, but I guess I didn't do a very good definition like this, as one within a country. It's for the local people only. It can't be traded worldwide. It's not really the country's currency, it's a city's currency or a county's or some small entity (Province, State, City, Town, Village) within the country. In some countries, that may not even be legal. That's part of why I'm curious. Thanks for responding and take care.
@eden32 (3978)
• United States
24 Oct 08
That's pretty interesting. I checked out the website quickly, but will have to read it more completely when I have more time. I wonder, if when you need to exchange it back into US dollars if the exchange rate is subject to whatever the market is doing at the moment?
@writersedge (22579)
• United States
24 Oct 08
Excellent question, my understanding is that an Ithaca Hour is $10 and one local bank there exchanges it at par. But I could be wrong. You can read the Frequently asked questions and see if that is covered and if it isn't, email them. They're terrific. Of course right now, with getting ready for the annual meeting, they may be a bit busy. One of the Canadian local currencies was interesting. Their exchange is 90 cents to the person exchanging it and 10 cents to the printing and maintaining process. Other places, such as some of the ones in Vermont, have grants to keep going. A funding source is very important. Thanks and take care.