Jct: Most interest-free work-based community currencies are linked to the national currency. 1 Ithaca Hour = $10 so $10 Berkshares = 1 Hour. In 1999, I paid for 39/40 nights in Europe with a timebank IOU for a night in Canada worth 5 Hours. 5 Hours was worth $50US, $60 Canadian, 100 German marks, 30 UK pounds, 300 French francs. So linking to the national currency has no ill-effect at all. And best of all, when it's accepted by the city in taxes, everyone will take it.
Jct: Most interest-free work-based community currencies are linked to the national currency. 1 Ithaca Hour = $10 so $10 Berkshares = 1 Hour. In 1999, I paid for 39/40 nights in Europe with a timebank IOU for a night in Canada worth 5 Hours. 5 Hours was worth $50US, $60 Canadian, 100 German marks, 30 UK pounds, 300 French francs. So linking to the national currency has no ill-effect at all. And best of all, when it's accepted by the city in taxes, everyone will take it.
kingofthepaupers 1 year ago
berkshares are a stupid form of community currency because their availability is directly linked to federal currency
58robbo 2 years ago