Alternative ¢a$h: Local Money debuts

[gdoane]

http://www.azcentral.com/community/ahwatukee/articles/2009/07/04/20090704phx-bux0704-CP.html

Phx Bux, pewter jewelry pieces of coin join Michigan's "Bay Bux" as a method of tapping into local flavor and Washington Disfavor as consumers are wary of the potential fallout from the Federal government kicking the printing presses into high gear with no collateral backing.

After all, if the Feds can make money out of thin air, why not join in on the fun?

[Rankandfile]

This reminds me of an episode of the Canadian television show "Corner Gas", which is being shown on various cable stations now in the US. The merchants of the town of "Dog River" decided to start giving out "Dog River Dollars" to be redeemed at businesses. It worked fine until one of the characters discovered he could make copies of the Dog River Dollars on a copy machine and flooded the town with them, and the became worthless. Heck, even the people of the little town of Dog River knew what would happen if you flooded the market with freshly printed dollars. But, that Harvard-educated person sitting in the White House can't.

[gdoane]

This reminds me of an episode of the Canadian television show "Corner Gas", which is being shown on various cable stations now in the US. The merchants of the town of "Dog River" decided to start giving out "Dog River Dollars" to be redeemed at businesses. It worked fine until one of the characters discovered he could make copies of the Dog River Dollars on a copy machine and flooded the town with them, and the became worthless. Heck, even the people of the little town of Dog River knew what would happen if you flooded the market with freshly printed dollars. But, that Harvard-educated person sitting in the White House can't.

The whole scam going on is a simple enough wealth transfer. Counterfeiters simply transfer wealth to themselves by kiting bad checks or forging bad money, and now the Feds have caught onto the game. It's easier than raising taxes to transfer wealth and with cutesy little names like "PHX BUX" or "BAY BUX" or even "Stimulus" people buy right into the con game.