The simplest, most basic
and universally applicable argument
for using local currencies
- A business* has money coming in and money going out.
If more is going than coming, there is a loss,
and if the loss persists, the business doesn't.
Conventional (national) money goes anywhere,
so when it's gone it stays gone.
It leaves the community, the local market, almost immediately,
and certainly knows no loyalty to the spender.
In these circumstances,
business is doing well if it survives at all,
and doing VERY well if it thrives.
- If, in addition to using normal money,
the business can also use another "bank account",
a local money that ALWAYS comes back,
this can only be to its advantage, particularly since:
- the local money accounts offer
"overdrafts" at 0% interest,
- and will typically cost
10p or less per "cheque".
Since this argument applies to ALL business, big or small, local or multinational, it will not be long before local currencies become a preferred method of payment.
* or an individual or government department.
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Version #002 27-7-96