Detroit's $3 Bill - Coin Community Forum

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Author	Replies: 7 / Views: 1,914
collect4fun Pillar of the Community United States 1151 Posts	Posted 04/07/2009 8:20 pm I know this is not a coin, but I figured more people will see it here than in the notes section. If it needs to be moved, please do so. http://www.detnews.com/article/2009...wn%20humming If it work great, but there should be more of an incentive to use it than just pride. People are looking to save money so maybe they should rethink the dollar for dollar idea. Report this Post to the Staff

jbuck Moderator United States 188274 Posts	Posted 04/08/2009 09:55 am I like it. Less power for the fed, more power to the people. Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
GO Moderator United States 6563 Posts	Posted 04/08/2009 10:00 am Interesting concept but unless there is something viable to back it up that $2 million could become obsolete overnight Report this Post to the Staff
jbuck Moderator United States 188274 Posts	Posted 04/08/2009 10:37 am It could, but not necessarily, because the local economy is the backing power. This is no different than how any fiat currency works, especially that of the Federal Reserve. As long as strong number of producers and consumers (and dare I say the banks) in the Detroit economy accept this form of payment, it will work. The bonus is that you have a much smaller scale than the corruptible (and corrupted) Federal Reserve. The challenge is undoing the mentality that only the Federal Government is capable of issuing and guaranteeing the value of a currency. In a truly free market (not the "managed market" we actually have), all of the power must remain with the consumer. A truly free market means that the consumer controls all aspects of an economic transaction, including (and especially) what they are willing to take or receive in the transaction. Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
collect4fun Pillar of the Community United States 1151 Posts	Posted 04/08/2009 10:49 am Here is an article from Forbes about Bay Bucks a currency used in Traverse City, Michigan. http://www.forbes.com/2006/02/11/lo...14local.html From what I hear this currency has been working for a couple years and very well response has been made. These are being used in a community co-op. Report this Post to the Staff
Davest Valued Member United States 325 Posts	Posted 04/08/2009 6:54 pm great idea, but counterfieting might become a problem. Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 04/08/2009 9:52 pm Yeah, no doubt- give me a good scanner and a color laser printer and I will be a Detroit millionaire Report this Post to the Staff
yotie Pillar of the Community United States 3077 Posts	Posted 04/11/2009 9:52 pm wonder how they will Tax that Report this Post to the Staff
	Replies: 7 / Views: 1,914

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