Back in a 1992 old subscription snail mail Hollow Earth Insider I ran an extended report on a revolutionary, outside-the box, issued legal money without any Federal Reserve involvement attached. This new money issued by locals in Ithaca New York called “Ithica Hours.” . . . EDITER
“The Ithaca HOUR is a local currency used in Ithaca, New York and is the oldest and largest local currency system in the United States that is still operating.[not in citation given] It has inspired other similar systems in Madison, Wisconsin; Corvallis, Oregon; and a proposed system in the Lehigh Valley, Pennsylvania. One Ithaca HOUR is valued at US$10 and is generally recommended to be used as payment for one hour’s work, although the rate is negotiable.
Ithaca HOURS are not backed by national currency and cannot be freely converted to national currency, although some businesses may agree to buy them.
In 2002, a one-tenth hour bill was introduced, partly due to the encouragement and funding from Alternatives Federal Credit Union and feedback from retailers who complained about the awkwardness of only having larger denominations to work with; the bills bear the signatures of both HOURS President Steve Burke and the president of AFCU. . . .Read Complete Wikipedia Report
What are Ithaca Hours?
Ithaca Hours is a local currency system that promotes local economic strength and community self-reliance in ways which will support economic and social justice, ecology, community participation and human aspirations in and around Ithaca, New York. Ithaca Hours help to keep money local, building the Ithaca economy. It also builds community pride and connections. Over 900 participants publicly accept Ithaca HOURS for goods and services. Additionally some local employers and employees have agreed to pay or receive partial wages in Ithaca Hours, further continuing our goal of keeping money local. . . . Read Complete Report
That was in the 90’s, this is NOW. . .
from Before it’s News
40 States Secede, 37 Moving Toward Local Currencies
Tuesday, November 13, 2012 14:52
The states that have filed a petition to secede from the United States is growing every day since the election results were final.
The next step for these states will be a local currency. But local currency’s are nothing new. Below is a list of states and local communities within those states that already have a model in place for just such an event.
It may seem like Monopoly money to outsiders, but a growing number of communities across the U.S. are using homegrown local currencies to stimulate their economies and protect themselves from the nation’s broader economic woes.
Now, even state governments are exploring the option. Lawmakers in more than 10 states, including Virginia, Georgia, South Carolina, Idaho and Tennessee, have been circulating proposals to introduce alternative currencies — many of which would be issued in the form of gold or silver coins.
The economy is in trouble and people don’t trust the Federal Reserve and they don’t trust the government, so this is somewhere they can turn, and somewhere they can still do business if the banks close.. . Read Complete Report
Ithaca Hours news stories – Part 1
Uploaded on Nov 7, 2008
posted by BMTLETS
This is the first half of a VHS video with a collection of news stories about the notes/cash being used to trade as their LETS currency – Local Energy Trading System. You can find more information at www.ithachours.org or at our Australian website www.BMT-LETS.com.
Ithaca Hours news stories – Part 2