Now, I know from the title, it seems like I’m an advocate of counterfeiting. That’s not the case at all. With the economy the way it is, everyone is doing what they think they need to do to survive. In fact, it’s not just on an individual basis. Across the country, communities are actually doing what they need to do to survive in this economy also. And if that means printing their own currency, well, so be it!

USA Today printed an article focusing on this particular subject. Here’s a little excerpt from the article:
“A small but growing number of cash-strapped communities are printing their own money.
Borrowing from a Depression-era idea, they are aiming to help consumers make ends meet and support struggling local businesses.”

“The systems generally work like this: Businesses and individuals form a network to print currency. Shoppers buy it at a discount — say, 95 cents for $1 value — and spend the full value at stores that accept the currency.”

“We wanted to make new options available,” says Jackie Smith of South Bend, Ind., who is working to launch a local currency. “It reinforces the message that having more control of the economy in local hands can help you cushion yourself from the blows of the marketplace.”

Ed Collom, a University of Southern Maine sociologist who has studied local currencies, says they encourage people to buy locally. Merchants, hurting because customers have cut back on spending, benefit as consumers spend the local cash.

At first, when I read this, I immediately thought it was illegal. I mean, it is a form of counterfeiting, right? But as I read the article in depth, this idea really makes good sense. If you can help the community you live in stay afloat by way of “community money”, why not? It’s also helping the economy in some form of fashion too! Maybe, more cities and communities should do something like this. I would do it, would you?

Do you think this is a viable solution to “stimulating” our economy? Should more communities look into doing something like this? Or do you think, it’s another “chasing the wind” type of idea?