3 ms·

> you aren’t free to print you own paper currency As far as I know, in the U.S. you are free to print your own paper currency, just so long as it doesn't conte

> you aren’t free to print you own paper currency As far as I know, in the U.S. you are free to print your own paper currency, just so long as it doesn't conterfeit that which is produced by the Federal Reserve Bank. Also, there's nothing illegal about conducting transactions with it either, provided you can find willing trade partners.

impendia 7y ago
> in the U.S. you are free to print your own paper currency Indeed, this is currently done. For example: http://www.ithacahours.com/ http://www.ithacahours.com/
johnnycab 7y ago
>As far as I know, in the U.S. you are free to print your own paper currency This is not the case, when a 'private' currency gains traction or seemingly encroaches a territory, which is traditionally assigned to government ─ it gets shutdown. https://www.nytimes.com/2012/10/25/us/liberty-dollar-creator-awaits-his-fate-behind-bars.html https://www.nytimes.com/2012/10/25/us/liberty-dollar-creator... https://www.openpr.com/news/25136/TUC-IMPROVING-THE-US-ECONOMY-BY-THE-CIRCULATION-OF-THEIR-PRIVATE-CURRENCY-TODAY.html https://www.openpr.com/news/25136/TUC-IMPROVING-THE-US-ECONO...
- aatharuv 7y ago
  They called their currency a dollar. If they had called them "freedom rounds", they would have been fine. Or if they had been owned by Disney for that matter...
- 411mrc 7y ago
  http://www.berkshares.org/ http://www.berkshares.org/ It's been around for a long time.
nradov 7y ago
Right this is totally legal provided you report any income obtained through such a scheme on your tax return in fair market US dollar terms. It's no different than bartering (which is also legal). The other caveat is that if someone owes you a debt you can't require them to pay in your own "funny money" currency. You have to accept US dollars if offered, otherwise the debt won't be legally enforceable.

impendia 7y ago

> in the U.S. you are free to print your own paper currency Indeed, this is currently done. For example: http://www.ithacahours.com/ http://www.ithacahours.com/

johnnycab 7y ago

>As far as I know, in the U.S. you are free to print your own paper currency This is not the case, when a 'private' currency gains traction or seemingly encroaches a territory, which is traditionally assigned to government ─ it gets shutdown. https://www.nytimes.com/2012/10/25/us/liberty-dollar-creator-awaits-his-fate-behind-bars.html https://www.nytimes.com/2012/10/25/us/liberty-dollar-creator... https://www.openpr.com/news/25136/TUC-IMPROVING-THE-US-ECONOMY-BY-THE-CIRCULATION-OF-THEIR-PRIVATE-CURRENCY-TODAY.html https://www.openpr.com/news/25136/TUC-IMPROVING-THE-US-ECONO...

aatharuv 7y ago
They called their currency a dollar. If they had called them "freedom rounds", they would have been fine. Or if they had been owned by Disney for that matter...
411mrc 7y ago
http://www.berkshares.org/ http://www.berkshares.org/ It's been around for a long time.

nradov 7y ago

Right this is totally legal provided you report any income obtained through such a scheme on your tax return in fair market US dollar terms. It's no different than bartering (which is also legal). The other caveat is that if someone owes you a debt you can't require them to pay in your own "funny money" currency. You have to accept US dollars if offered, otherwise the debt won't be legally enforceable.