Taking back the economy, British style.
Pdavid
2012/04/29 18:45:00
In Bristol, a large city in England, a group of ingenious business people have come up with a way to support the local economy. Fed up with watching the Euro and the world's economy in free-fall, the slow death of local business, as well as banks taking money out of the local area to London or some remote offshore bank, they decided to take action.
From their frustration was born the idea to print their own money, called the Bristol pound. Next month the Bristol pound will start being printed in £1, £5, $10 and $20 denominations.
So far, 100 local companies have signed up, including a bakery, the Ferry company, the Tobacco Factory theater, many cafes and even a pub.
To participate, Bristol residents will open an account with the Bristol Credit Union (BCU) and for every ordinary pound Sterling they deposit, they'll be credited with on Bristol pound. The BCU has even come up with sophisticated anti-forgery measures for the new currency.
The only catch is that Bristol pounds must remain in Bristol to pay for local supplies and services, but that way the Bristol money stays in Bristol and everyone gets a chance to support the local economy.
From their frustration was born the idea to print their own money, called the Bristol pound. Next month the Bristol pound will start being printed in £1, £5, $10 and $20 denominations.
So far, 100 local companies have signed up, including a bakery, the Ferry company, the Tobacco Factory theater, many cafes and even a pub.
To participate, Bristol residents will open an account with the Bristol Credit Union (BCU) and for every ordinary pound Sterling they deposit, they'll be credited with on Bristol pound. The BCU has even come up with sophisticated anti-forgery measures for the new currency.
The only catch is that Bristol pounds must remain in Bristol to pay for local supplies and services, but that way the Bristol money stays in Bristol and everyone gets a chance to support the local economy.
Pittsboro PLENTY http://www.theplenty.org
Portland (coming) http://www.pdxcurrency.org