BerkShares on ABC News

[blaquepatriot]

Perfectly legal. There are areas in Texas accepting the Mexican peso. There are other areas that have similar currencies or credits. Get used to it people, that federal fiat note is crashing. It's purchasing power is stronger than the fiat. As long as it is supported by the whole community it is here to stay. Competition ground with big chain stores is slowly leveling. They will start accepting it soon

[The208368]

the berkshire may soon no longer be pegged to the USD. There have been talks in the town about the berkshire being pegged to maple syrup. Maple syrup is one of the products The Berkshires is rich in, and like the video demonstrates this is totally legal.

[theswoogie]

To those who say Berkshares are not backed by anything-The US Dollar is not backed by anything-not gold anymore-just faith in the US government.  I noticed by their website $95 US Dollars now gives you 100 Berkshares. So now you get only a 5%, not 10% discount. I guess they devalued their own currency. PS. It should be quality paper, in the area is the Crane Paper company, they have been making the US currency paper for over 100 yrs.

[underage4men]

What a cool idea, I wanna make my own alternative currency:O

[finderoftheway]

I have said for many years every state needs there own money and let this run away government wash out. I do not think we the people need a middle man in our funds constructing future gains and wealth for the few on the backs of the poor. Every states money should be recognized by all others with the same trade value printing money is a good thing so long as it's regulated by the people for the people and no elected official.

[aramhampson]

it is hopeless. When i read youtube comments I begin to feel that people are just so dumb that there is really little hope for this country or the world.

[draketl7]

@aramhampson : Aram, you are too wise to ever go "hopeless." It's people like you who are looking to make a difference that "make" a difference as long as you don't go hopeless and give up.

Are the people "so dumb" or just plain scared of change?

[Unsharpened]

This is very cool indeed but I smell something that could possibly happen to a currency like this. If they ever go to Berkshares totally , you are now shackled to the community as Berkshares are not worth anything outside of that community. Coal companies used this kind of system back in 1914 with the use of tokens. They paid thier workers with tokens which in turn can be used for goods at the local COAL COMPANY STORE! shackling them to the company. Do we forget easily?

[lupischuckle]

Haha! Guido's.... Poor name choice. However, I very much like what this town is doing.

[pokerguy17]

I love how a community has created something that is backed by trust between local business owners and consumers. This has actually inspired me to start a private currency with my friend, since we always do a lot of trading and favors for each other. You just can't trust the US dollar, since it's becoming a worthless piece of paper and we just keep printing more of it. Every good currency is always backed by something that has worth.

[VladDaImpaler09]

@livingcommunities Your right, and its unstable and has had inflation like CRAZY...Plus its BS, the government can print this "money" out of thin air... Help fund the wars and welfare programs with hidden taxes on the lower and middle class (inflation)...

[intellectualgiant911]

omg u gais, ppl printin they own munnies. taht is fkn kewl

[VladDaImpaler09]

If it isn't backed on anything, i really wouldn't want to gamble with this crap money..

Seriously, its like the creator is just trying to make his own FED game... Whats to stop him from printing out more money (which causes inflation) or the inflation of our money to worsen the value of his money...

Trust is a nice idea, but its better to trust something that you know wont change and has a finite value

just my 33 cents or half a berkshare! (just trust me)

[andremiani]

Hi Vlad. I agree with you that Trust is a nice idea, but the money paper is not bad too. It only is. not good. not bad, only is. The big problem that the biggest part of world doesnt understand is the INTEREST. The money paper /coins isnt the problem. For me, IMHO, the problem is the interest rate that has bad impact over money.

[livingcommunities]

@VladDaImpaler09 Federal currency isn't backed by anything either.

[kdavisification]

@VladDaImpaler09 You're deluded if you think "The Feds" money isn't going to change.

[ratm3413]

@VladDaImpaler09 What do you think the federal reserve is doing?

[aramhampson]

@VladDaImpaler09 You are in a fouled mindset. . this is how community and exchange work. Its how money works these days. Value is based on the community set value. A barter currency is based on trust. This is how many towns during the great depression made it though with out suffering. What you think everyone can get some gold? you are part of a mind set that will keep people from being able to thrive. Go live in the wilderness. What do you think our $ is? its paper, its trust

[aramhampson]

@VladDaImpaler09 what and you think our $ is backed by? And, its a great system based on social value, not bank debt system, it is still dependant on the dollar which is everything you seem to be against. Our $ is based on faith. . The banks just invent money everyday by pushing a few buttons.. They just write $ in to accounts based on a contract with the borrower. Learn how our system works before you open your mouth. What gold? there is not such thing a finite value.

[MrJARichard]

@VladDaImpaler09 Did you know that the U.S. dollar isn't backed by anything? Nope, the gold standard went out the window years ago! So you say you wouldn't gamble on money not backed by anything, but I'm assuming you still use the U.S dollar, so you already are.

[MrJARichard]

@VladDaImpaler09 Did you know that the U.S. dollar isn't backed by anything? Nope, the gold standard went out the window years ago! So you say you wouldn't gamble on money not backed by anything, but I'm assuming you still use the U.S dollar, so you already are using unbacked currency. Just my 2 cents, 'cause a lot of people don't realize this.

[piddles125]

@VladDaImpaler09 What makes it so much different from the USD... the USD is back by nothing more than faith that the economy will grow. Also whats to stop the FED from printing as much money as they want... not like the FED trying to chase a $700,000,000,000.00 debt because our own businesses need to be bailed out. The FED is in the process of hyper-inflating the dollar right now.

[affordabletime]

@VladDaImpaler09 Your an idiot, what do you think the Federal Reserve is & does.? Educate your self then speak

[TheLogicJunkie]

This notion of "backing" is a wild goose chase, because it's never properly defined.

Do you know what really "backs" a currency? Noncounterfeitability -- or, at the very least, maintaining limits on increasing its volume.

The reason that gold "backs" a currency, is that more gold cannot be created except in supernova explosions, and then through actual discovering it through mining. The actual substance of gold cannot be created into existence by fiat -- hence its noncounterfeitability.

[TheLogicJunkie]

And so, the problem with fiat currency is when the fiats never stop -- as is the case with the Fed and other Rothschild systems. 

And beyond this, at bottom, money is a confidence game, always. Do you trust the people printing the money? And, better yet, are they vulnerable to you such that they always maintain a healthy level of fear over possibly cheating you by secretly printing money and giving it to select people? Healthy social systems are built on healthy social fear.

[BlacksAreBeautiful]

What is the currency backed by? Gold, silver, copper, aluminum... if its the same Fiat currency in use now, how long before its useless paper like the dollar is becoming???

[andremiani]

This kind of currency is backed by trust! As the official money... with the difference that Complementary Currencies likes Berkshare doesn't have interest. This is the point. A money free from Interest.

[BlacksAreBeautiful]

unfortunately, trust is not something you can back a currency with...sounds great, but if inflation hits the Fed Reserve notes and sparks a rise in consumer good prices, how long will it take before those business can't absorb that 10% loss they suffer on the exchange rate?..I'm all for interest free money, but if its not backed by anything except trust, then its just as unstable as the Fiat currency in use now...

[andremiani]

Bernard A. Lietaer wrote the book "The Future of Money" and in this book said "Money only exists because of trust — where trust has been destroyed, money is loosing its value; chaos and poverty are sad consequences". Humbly I suggest to you that read "The Future of Money"... I think that it could be a good information to you walk into this understanding... and more!

[andremiani]

but to finish, I think that the big problem is not about if money is backed by gold, silver or trust... the problem is about the interest on money.

[velation]

It's a good idea for currencies to compete, but this isn't really a seperate currency. It's tied to the dollar. Still, it's a step in the right direction.

[andremiani]

It´s not true.

This money don't compete with the dollar.

This money isnt tied to the dollar.

This money is complementary to the dollar.

[dabuddha669]

we need to do this, like now. federal reserve is the root of all evil.

[EnduringRain]

That's fucking genius.

[hamsterman81]

Thats stupid

[andremiani]

what is stupid?

[greatone97]

He is.

[andremiani]

Jackytm => the difference could be that in place of that the final user must interchange the local currency for oficial currency the user have the possibility to use it to recruit personal, local services, buy products, etc... And thus, the local money back in circulation to promote the real distribution of wealth (of our communities) that are our talents in the form of products, services and knowledge.

[jackytm]

Hi Andrea, I need to consider what you are saying. I guess if I knew the local economy I

[jackytm]

oops_ continued: I could appreciate more what is going on. All global currencies must ultimately link to bring local wealth. I am afraid that if you alienate yourselves from the main currency it will ultimately bring about stagnation. In reality, the main currency is still a central part of the local area.

[jackytm]

Please, help me comprehend what is going on! If you pay $100 for 90 - what is the point of printing these glamorised vouchers? A loyalty card giving 10% discount will serve exactly the same purpose. Or correct me if I am wrong?

[xavster]

you are paying $90 USD for $100 BSD - it is pegged to the USD. The real value in this is localizing the economy, this hedges against the global economic influences because the money is local and cant be used elsewhere. This is a way to keep wealth within the community instead of it flowing to outside corporations.

the result is consumers get 10% discount and local stores get more business.

[n0us3rnameleft]

so who pays the rest fo the 10% ?

[autopsi]

If you watch the video, its says the store owners basically pay the 10% when they convert Berkshares back to USD at the bank.

[raisingheel]

dan, thanks for bringing some national spotlight to the berkshires/your neck of the woods, but does the world really need another fiat currency? i haven't heard about it being wildly accepted througout the county, outside of guido's and other stores in g.b.? would love to hear a follow up report. still, thumbs up?

[dingleberrymonster]

i live in the town this was shot in I AM A LOCAL, FUCK NEW YORKERS!!!!!!!!! Go Home Fruitcakes!

[moitara]

Desculpa a demora da resposta Andre.

A feira de trocas aconteceu em Pirinopolis-Goias no encontro de juventude para meio ambiete. Quem organizou foi sandro raphael borges estudante de biologia e guilheme grec professor da escola agrotecnica de ceres. Qq duvida, só perguntar. Obrigada voce por assistir nosso video.

[econdemocracy]

See also ithacahours dot org and ithacahours dot com

[econdemocracy]

The most famous US local currency is probably Ithaca Hours. The founder, Paul Glover, along with the hosts of this website, have more ambitious project ideas: a community alternative to Wall Street itself, economicdemocracy dot org /alternatives-to-wallst.html

[gameshowguy2000]

And another alternative is the Liberty Dollar.

[watchoutwhat]

all awakened americans should know about alternatives such as these.