Small Town Starts Own Local Currency

The tiny town at the geographic center of California (and about 30 miles from me) now has it’s own local currency.

From the Los Angeles Times:

Perhaps the biggest of Josh Freeman’s projects is North Fork Shares, the local currency he created last year with resident Dan Rosenberg, also 45, who was a congressional candidate in 2000, winning the Democratic primary but eventually losing to his Republican opponent. The pair developed the scrip — which is worth $12 per share. If someone needs help fixing their car, for example, they pay a local in North Fork Shares, rather than driving elsewhere for repairs. That money will then be spent on another local service — on homemade food, say, or gardening supplies.

The currency is a type of bartering service. One share is worth roughly one hour of labor, so if someone mows a lawn for an hour, for example, they can get paid a full share. People can also obtain the bills by buying them or by attending meetings about the shares, where they’re sold at a discount.


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