"No nation can preserve its freedom in the midst of continual warfare." - James Madison
It is amazing what people will get together to do.The key, of course, was getting banks to agree to back the "Berkshares" with US dollars. Without that backing, they'd be nothing.But what happens when someone with a good laser printer starts counterfeiting the Berkshares?Is that an issue for the Secret Service?
It should be no surprise to you that Carrboro has their own currency, too: http://www.ncplenty.org/home.php~Jamie
Um....can they do that? Didn't we write a Constitution to replace the chaos that happened when states printed their own currency under the Articles of Confederation?
As long as it is redeemable for U.S. dollars, it's legal.
Ben, wouldn't the difference be that under the Articles of Confederation, the states' currency wasn't legally backed by currency at the federal level?I think the more accurate analogy is game tokens at an arcade -- US currency is used to buy the tokens at the door and, once inside, the tokens become the main currency. Seems like to me, this whole Berkshares thing "entices" (encourages?) citizens into spending more money than they probably would have done otherwise: be it, because it feels like they're holding "Monopoly money" or they're supporting local interests.
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