Cohousing-L Mailing List: Re: ALternative economic systems

[BARANSKI (BARANSKI]

  According to my uncle, the question of using a printed credit system  such as
  the Ithica hours, which denote specific marketable value, is in  the realm of 
  state and local municipalities which have their own tax  charters which can
  and do effect such things.

Any printed currency is no more and no less the same thing as a written check
(which can be written out on anything, not just preprinted checks).  currency
is usually for set amounts, and issued by some 'trusted' authority, such as a
government, or a bank, but it can as easily be a individual, group, or
community.

The only difference in US/governmnet currency is that it is illegal to destroy,
tamper, alter, or forge, and that it by law ***must*** be aceptable "for all
debts, public and private".  Whereas private currency or checks may not be
acceptable forms of payment to everyone.

Jim.