Alternative currency for Oakland residents and neighbors
My suggestion is that we combine the ID concept with the concept of a local currency. You could title this either a “merchant credit system” or a local, virtual, Alternative Currency for Oakland Residents and Neighbors (ACORN). The United States has a rich history of local currencies. There are local currencies in Ithaca (N.Y.), Berkshire (Mass.), Humboldt (CA.), Lawrence (Kansas), Floyd (Virginia), Calgary (Canada), and many more places in this country and around the world.
The “big boys” use currency trading not only to hedge against inflation and trade fluctuations but also to amass assets; a local currency would make some of those options available to the City of Oakland and the “little guy.” An additional important benefit is to keep more resources within the micro-economy of the City.
August 20, 2010