Towns print their own money

[Confess]

Well, with the economic problems, it appears that some towns are printing their own money...I wonder how this will turn out?

 

http://articles.moneycentral.msn.com/Banking/BetterBanking/struggling-towns-printing-their-own-cash.aspx

[BDwinsAlt]

Well, with the economic problems, it appears that some towns are printing their own money...I wonder how this will turn out?

 

http://articles.moneycentral.msn.com/Banking/BetterBanking/struggling-towns-printing-their-own-cash.aspx

I would never accept a currency like that. I know it's legal, but looking back at history, it's a rather stupid idea. Maybe they should move somewhere else.

[L.C.]

Actually this is pretty normal and common in larger cities like New York, and technically better than USD since they are not really infected by inflation or inflatable. I wouldn't be the right person to explain or ask though. Edited February 16, 2010 by L.C.

[BDwinsAlt]

Actually this is pretty normal and common in larger cities like New York, and technically better than USD since they are not really infected by inflation or inflatable. I wouldn't be the right person to explain or ask though.

There is something called Bama cash you get on a debit card that you are required to get your freshmen year at the University of Alabama (not to be confused with the University of Alabama at Huntsville where the shooting was, they didn't include the at huntsville). Anyway, you can use it anywhere on the "strip". But once you leave the "strip" you won't find a single store that will take it. Might be useful for some students around campus, but every place that takes bama cash takes regular cash. And the prices are the same, so give me real money please. K Thx.

[rootbear75]

All universitys have that... its for parents who want to allow their student to get money, but not be allowed to spend it everywhere. At VCU, they had RAMBucks.

[X_PennyWise]

This

 

 

1:20

 

Gimme them greenbacks

Edited February 16, 2010 by X_PennyWise

[divine.216]

Towns aren't printing money, they can't. (And in any case, imo, they shouldn't.)

"No state shall ... coin money"

- U.S. Const. art. I sec. 10

"The Congress shall have power ... [t]o coin money [and] regulate the value thereof"

- U.S. Const. art. I sec. 8

 

These are local businesses printing play money; Disney Dollars indeed.

[kingtaco11]

Divine just owned all you guys

[L.C.]

Towns aren't printing money, they can't. (And in any case, imo, they shouldn't.)

"No state shall ... coin money"

- U.S. Const. art. I sec. 10

"The Congress shall have power ... [t]o coin money [and] regulate the value thereof"

- U.S. Const. art. I sec. 8

 

These are local businesses printing play money; Disney Dollars indeed.

What stops a town community from using European currency over American currency? HMM?

[Confess]

L.C. - hinders productivity/congress' ability to use its power (implied powers, see John Marshall).

 

Believe it or not, people print their own money all of the time. Have you ever used a giftcard? Ever use mcdonalds $1 bills to pay for a mcdouble? These are all forms of currency, but only valid at certain places...same thing as in this, but it is valid at more then just one place...However, the difference I see is that htey are handing this out as though it was a currency instead of using it as a product..Would be an interesting court case.

[whalz]

dont you think its sad that people have to spend fake money because they cant get enough of the actual money?

 

doesnt this seem like a problem?

 

 

 

*wonders* how do they aquire this fake money in the first place, do they earn it, or do they buy it?

[Hakaku]

Divine didn't own anyone:

Printing and distributing local currency isn't illegal. But there are rules (...) First, the currency can only be paper; no coins are allowed. And the currency can't resemble a dollar. Finally, any income received in local currency must be taxed as if it were federal dollars.

[L.C.]

So what if they use coins made of 99% silver/gold?

[Hakaku]

That's only required for States^