From the leftist countercultural magazine Arthur Magazine, dated March 15, writer Douglas Rushkoff writes a vigorous broadside against the central bankers and the idiocy of bailing out the Wall Street banking giants. You can read the article HERE.
In his article, he also advocates the creation and use of local currencies -- also known as "mini-currencies", to help stimulate local and regional economies. such local currencies have been used in many places throughout the world in times of economic turmoil. They were valid and viable than and are still so today.
In a Distributist state, there'd be no quarrel with local currencies. For such local money would not be trying to replace the national currency, but supplement it to benefit the local economy. It's even more needed now in light of recent reports that the United States Mint is suspending more production of gold and silver coins due to record high demand.
According to the March 14 edition of Gold and Silver Blog, another batch of American Gold Eagle and Silver Eagle collectors coins won't be produced. this raises the total gold and silver coin products to 38, which meant as either delayed making or won't make any more. All indications are that the government is purposely forcing the American public to stay tied to paper dollars. They are rationing gold and silver coins on purpose. You may read the blog article HERE.
We Distributists must join with others of good will and establish local currency networks where we live. With the government forcing dependence on the rapidly devaluing paper dollar by rationing gold and silver coins, promoting these "mini- currencies" will help cushion this recession's many economic blows. better to do this sooner than later, better to do this now than sooner.