Friday, March 6, 2009

Alternative currency discussion

Jason Bradford has a very interesting story at the The Oil Drum about a local currency backed by food grains. It's a similar system to a lot of barter currencies but has the advantage of having an actual physical backing in the way our currencies used to be backed by gold. The extensive discussion afterwards covers some important topics including the problem of forgery and lots of interesting historical data on similar systems. Highly recommended because I believe this is the sort of thing we will need to have some time in the near future if, as I fear it will, our dollar suffers a complete collapse along with the banks.

1 comment:

Mark Herpel said...

Thanks for steering me in that direction to read his article. That is a pretty amazing and wonderful set up they have, I'd participate if it was in my area.