Afraid that the world is collapsing and your hard-earned dollars will soon be worthless kindling? At heart, monetary systems are based upon a shared delusion, so you might as well get empowered and start you own — The Atlantic explains how.
And, lest you think the whole idea is tongue-in-cheek, there are tons of real-world examples of successful alternate currencies right now for inspiration: Ithaca HOURS (used in Ithaca, NY), World of Warcraft money, BitCoin, and Japan’s Fureai Kippu, or “friendship tickets”:
Here’s a nightmare scenario shared by some mainstream investors, goldbugs and Ron Paul devotees: The year is 2013. Inflation has the U.S. economy in a stranglehold. International investors are fleeing to the far corners of the globe. The dollar is in a free fall, and Americans are scurrying to protect their wealth. What do you do?
Start your own currency. It’s not as complicated as it sounds. You can “back” it with gold, or mimic an I.O.U. for one hour’s worth of work. All you need is a system other people can understand and, most importantly, trust.
No gold? No problem. The easiest way to start a currency is to draw up an I.O.U. system that allows your friends to trade hours of work.
Hundreds of shops in Ithaca, NY, accept “Ithaca HOURs,” a local currency backed, not by gold, but by man-hours.