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Re: [Taler] Taler for local currencies

From: Calvin Burns
Subject: Re: [Taler] Taler for local currencies
Date: Fri, 1 Jul 2022 20:11:52 +0000

On Wed, 06/29/2022 07:04:29 PM, Daniel Gagnon wrote:
> Hi,
> In Quebec City we have a local currency meant to boost the local economy and
> encourage people locally. It kinda works like a physical Taler, the mint
> echange canadian dollars for local dollars and gives that money back to
> merchants when they bring the local money customers brought.
> So far there are 450 participating local businesses and 180K of that money
> that circulates. If I understood correctly how Taler works, it would be a
> good digital complement. Do you know of any similar project that used Taler
> in this manner?
> Thanks

Very interesting!

The only local currency I know of is the Woergl from 1932.
In 1932 Austrian town Woergl introduced a local currency which seemed to have a
very positiv effect on the local economy but the Austrian National Bank didn't
like it [1].

I think a community would profit from democratically deciding who gets a loan (~
money) for what and how much.  Or at least there should be a veto right for the
people.  Because it's the people who have to pay for it:
- the people have to bail out banks when banks speculated with "bad loans".
- the people have to do/produce stuff for the money (loans) banks create.
- the people have to pay for the consequences of destructive use of money
  (poverty, climate change, war, surveillance, ...)

Thanks for reporting.

[1] http://www.paecon.net/PAEReview/issue88/whole88.pdf, page 85

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