What is a 'Currency?'
What are the alternatives?
What's 'Funny' about the Bank of England's money?
What makes Local Currency 'Real'?
How does my local business get started?
How do I stay in control?
What good is Local Currency?
How do I spend local currency?
Will Local Currency cause inflation?
Do I pay tax on Local Currency?
What will happen when the pound de-values again?
What makes Local Currency ‘Real’?
Local currency is money created locally by everyone who advertises their willingness to accept it. It is real because the notes represent 'real skills, labour and time of local residents and real production capacity'.
The idea is similar to the co-operative principle - it is not the investors who benefit most but the participators, regardless of age or abilities. With each usage a self-help network is weaved, creating local employment, helping local small businesses, and encouraging exports. Local money stays local, and unnecessary imports such as food, clothing, tools, services and culture can be replaced with locally produced items.
Local currency is backed by local labour, and can become completely independent of national currency. This makes it the only form of currency that can be completely inflation-proof.