Localists Take (B)Note

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Rufus F.

Rufus is an American curmudgeon in Canada. He has a PhD in History, sings in a garage rock band, and does a bunch of other stuff.

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6 Responses

  1. Avatar Scott says:

    Hope Obama’s DOJ goes after the BNote like they went after this guy. I don’t they will though, not the right color or politics

    http://www.citizen-times.com/article/20110319/NEWS01/110319006/1001/news/Liberty-Dollar-fake-currency-creator-convicted-federal-court?odyssey=nav%7CheadReport

    • Avatar Rufus F. in reply to Scott says:

      There are actually a handful of places that are using local currencies. My understanding of it, if you don’t want to get nailed by the DOJ, is that the currency has to be paper and not coins, can’t be confused for a dollar, and anyone who gets paid in that currency still has to withold the right amount of dollars for taxes. I think that’s why Ithaca Hours and BerkShares are both legal. It probably also helps that they’re pegged to the dollar.Report

      • Avatar Scott in reply to Rufus F. says:

        Domestic terroroism seems like a BS charge for that guy.Report

        • Avatar Rufus F. in reply to Scott says:

          Well, yes, I agree. It seems like the most they could get anyone minting a local currency on would be counterfeiting and even that would be hard given that they’ve all been announcing to the public that they’re introducing an alternate currency.Report

  2. They’ve got some good restaurants involved. And it looks like you get a 10% discount on the exchange rate during the rollout, which could help if you want to eat at Woodberry Kitchen.

    Thanks for posting on this: I might not have known about it otherwise.Report