+FeelingShred Actually I don't think inflation is a bad thing, it all depends who benefits from inflation. Currently inflating our federal reserve notes benefit the owners of the federal reserve bank and their supporting corporation and banks because they get first use of newly printed money, they get the greatest value. If local businesses and local citizens inflate their own currency because they print more money to build new businesses and new homes that stay in the local community the community benefits and get's wealthier. The inflation has to be natural it has to come from demand not policy. If a citizen has a great idea for a business but the local bank doesn't have the currency the solution is simple the bank merely prints more currency and lends it to the citizen. New money has been created (inflation) but the recipient of that new money is the new local business owner. The new business will create new wealth and the local currency will again rise in value so the inflation effect is temporary. Inflation by demand is good, inflation by design (policy) is toxic.
Gosh, I wish I could find more info on this system. Searched Google but it is all from some time ago, cannot find anything current. Does anybody know how to find out more about this system?
This sounds like more of a novelty and tourist attraction. From my understanding it's pegged to the pound and can be exchanged for govt currency at any point. I don't see how it actually encourages local spending assuming that has net positive effects to begin with. Unless you make it free floating and limited, it wont hedge against inflation.
Hello, My name is Doron Tyrone Brooks, I will be on the Mayorial Ballot 2019,On the road to lead East Saint Louis, out of a $5,000,000 million dollar debt. Since the year 1999, I've worked steadily over the decades to deliver a "Classic American Banknote"someday, it's now 2016 and Americans want a leader, that answers the call,to be intellectual and creative with paper. From day one, the citizens of my community have been the main focus of my engagement into the local currency job sector. Today is the start of a dual currency platform, that will empower the survival of businesses, traders, service workers, store fronts of all sizes. I introduce Gamuo Dollam banknotes as put together by seigneur, Doron Tyrone Brooks the owner of exclusive rights of the copyrighted works. Join Gamuo Dollam, per se: Say Yes! to a new beginning by taking control of your financial well-being today. Elect Doron Tyrone Brooks-East Saint Louis Mayor 2019 "City Hall Currency For Residents and Businesses"
For what I can understand, the brixton pound is a local money, but it is not a monetary system. Basically it is a community of people having the compromise to order their goods and services in the local market and not outside it. But it does not create brand new value as it does a real monetary system. Actually, this currency is not competing with the pound: it actually is the pound itself presented as something else due to the compromise to use the pounds in local businesses attached to it. Therefore, the Brixton pound is good for the local business owners but is actually not good for the local workers, because the use of the Brixton pound forces them to refuse cheaper products comming from outside Brixton and they get nothing in exchange for this sacrifice.
They are not forced to anything, because this complementary money works on a basis of free will and just as an secondary option. It just enables people to make a change for the community around them and therefore for your direct environment. that is in fact a what they get in excange. what benefit do you have, when you are rich but you live around poor unhappy people who struggle to make a living? so youre right, it cant compete with the pound. but so the pound can't compete with the brixton pound. why this negativity on a such a positive invention?
Actually you get 5% more Brixton Pounds when exchanging for British Sterling and the merchant saves because they don't have to pay the higher fees associated with taking credit cards (up to 3.5% per transaction vs. 1.5% on Brixton) so there are benefits. What would be interesting is to have both currencies in the system and have the system tell the consumer which currency is best to use on any given purchase.
How local currencies give value for money. #localbusiness #localcurrency #communities #localeconomy #virtualcurrency
The key element is making it FINITE, LIMITED, not possible to print/create more. Then it works.
+FeelingShred Actually I don't think inflation is a bad thing, it all depends who benefits from inflation. Currently inflating our federal reserve notes benefit the owners of the federal reserve bank and their supporting corporation and banks because they get first use of newly printed money, they get the greatest value. If local businesses and local citizens inflate their own currency because they print more money to build new businesses and new homes that stay in the local community the community benefits and get's wealthier. The inflation has to be natural it has to come from demand not policy. If a citizen has a great idea for a business but the local bank doesn't have the currency the solution is simple the bank merely prints more currency and lends it to the citizen. New money has been created (inflation) but the recipient of that new money is the new local business owner. The new business will create new wealth and the local currency will again rise in value so the inflation effect is temporary. Inflation by demand is good, inflation by design (policy) is toxic.
Dude, nobody has patience to read giant texts, keep it small and to the point
FeelingShred lol
+Rick Rouse
But on another side - inflation means small tax on all money people hold. Is that fair?
I love Brixton pounds
How do you protect the currency from counterfeiting?
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01:10
Gosh, I wish I could find more info on this system. Searched Google but it is all from some time ago, cannot find anything current. Does anybody know how to find out more about this system?
This sounds like more of a novelty and tourist attraction. From my understanding it's pegged to the pound and can be exchanged for govt currency at any point. I don't see how it actually encourages local spending assuming that has net positive effects to begin with. Unless you make it free floating and limited, it wont hedge against inflation.
Hello, My name is Doron Tyrone Brooks, I will be on the Mayorial Ballot 2019,On the road to lead East Saint Louis, out of a $5,000,000 million dollar debt. Since the year 1999, I've worked steadily over the decades to deliver a "Classic American Banknote"someday, it's now 2016 and Americans want a leader, that answers the call,to be intellectual and creative with paper.
From day one, the citizens of my community have been the main focus of my engagement into the local currency job sector. Today is the start of a dual currency platform, that will empower the survival of businesses, traders, service workers, store fronts of all sizes.
I introduce Gamuo Dollam banknotes as put together by seigneur, Doron Tyrone Brooks the owner of exclusive rights of the copyrighted works. Join Gamuo Dollam, per se: Say Yes! to a new beginning by taking control of your financial well-being today.
Elect Doron Tyrone Brooks-East Saint Louis Mayor 2019
"City Hall Currency For Residents and Businesses"
For what I can understand, the brixton pound is a local money, but it is not a monetary system. Basically it is a community of people having the compromise to order their goods and services in the local market and not outside it. But it does not create brand new value as it does a real monetary system. Actually, this currency is not competing with the pound: it actually is the pound itself presented as something else due to the compromise to use the pounds in local businesses attached to it. Therefore, the Brixton pound is good for the local business owners but is actually not good for the local workers, because the use of the Brixton pound forces them to refuse cheaper products comming from outside Brixton and they get nothing in exchange for this sacrifice.
They are not forced to anything, because this complementary money works on a basis of free will and just as an secondary option. It just enables people to make a change for the community around them and therefore for your direct environment. that is in fact a what they get in excange. what benefit do you have, when you are rich but you live around poor unhappy people who struggle to make a living? so youre right, it cant compete with the pound. but so the pound can't compete with the brixton pound. why this negativity on a such a positive invention?
Actually you get 5% more Brixton Pounds when exchanging for British Sterling and the merchant saves because they don't have to pay the higher fees associated with taking credit cards (up to 3.5% per transaction vs. 1.5% on Brixton) so there are benefits. What would be interesting is to have both currencies in the system and have the system tell the consumer which currency is best to use on any given purchase.
Simbi currency would have more positive effect. It isn't associated with government enforced money.