Some communities are now printing their own money to spend within their town. How can they do this?
Its not "real" money as such, more of a voucher system,
And i can't believe how many people didnt read your link before giving dumb ignorant answers
they can't. the Constitution reserves to Congress the right to ".... coin money and regulate the value thereof".
Some communities do this cause its different, but you have to exchange the USD for the'r currency.
Haha good luck you have to have something valuable to back it up.
What would life be in Canada without Canadian Tire money?
Start your own country. Then you can print your own currency.
OF COURSE ITS LEGAL!
the government does it so why can't we? :)
no r u stupid
I don't know Dude. I thought only the US Treasury was allowed to make money?
your dumber then a dick
you can't print money and it be legal
they can not unless they are in California and print their own iou's
why would you do that, thats so not legal! dont even think about it.
you have to think about what paper money is. Its just a symbol that everyone accepts to be worth something. that symbol can be anything. you just have to know that everyone in the community will agree that its worth a certain amount.
~ I don't think that is possible.
These examples are not legally binding tender, but are "scrip" or a form of paper token, where someone exchanges money for said sprint your own moneycrip and then spends the scrip as money only within the businesses or communities that accept them. The story in question is basically about an advertising scheme, but many people create their own "money"; the problem is that usually no one else will trust that it has value and will not accept it at face (or sometimes for any) value.
All national currencies have laws prohibiting identical visual copies of their bills or coins, and some even prohibit the defacing of existing currency.
You can print your own money so long as you are not forging legal notes. Currency is only given validation and value if more than one person agrees to use it as exchange for goods or services. You don't have to have a large corporate entity or government acknowledge its value. I could set up pieces of TP with the letters "IOU" on them and so long as another individual accepts it as currency, no one is being hurt.
Ask yourself, "what is money?" It's just paper. It doesn't have value in of itself. It isn't backed by anything, such as gold. Money is only valuable because of the common belief that a dollar today will still be worth a dollar tomorrow. These towns are kind of doing the same thing, in that all the town's merchants have agreed that this town scrip has "value". They'll accept it as cash today as long as some one else in town will accept it as cash tomorrow. Where it wprint your own moneyould be illegal is if these towns suddenly decided to print US currency on their own. That's counterfeiting.
I believe it's similar to bartering & trading. it's legal as long as you solve the issue of the taxes on the value traded
It basically work as "coupons"; It's legal as long as you make clear "it's NOT legal tender" and taxes are paid with "real" money.
The bills can't resemble "real" money. Also you can't force people to accept it.
it says it's a depression era idea, but i've never heard of that before.
hey, i want my town to do that!
First you or I as individuals cannot do this but local governments can as the "money" is backed by USD and only usable within the city limits by companies that accept the money in exchange for goods or services. It is a means of creating business within a city.
You can if you are playing Monopoly.
As long as it is not counterfeiting u.s. currency, you can make your own. You can call is Fred's money is you like. Paper money has value only as long as everyone agrees it has value. If people see your money as having value and agree to trade you goods and services for it, then no law prohibits that unless you are fraudulently promising to deliver something and do not.
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