Good News Newsreel for March 2009
Tuesday, March 31, 2009

image by Roberto Garcia-S
Yesterday I signed my business up for the Berkshares, meaning that my Pilates studio in Stockbridge, MA (in Berkshire County) will accept this local currency. It works just like a dollar, and because 100 US Dollars are worth 105 Berkshares, the customer receives a 5% discount simply by using them. Several hundred businesses participate in this scheme and millions of Berkshares have circulated through the local economy. And that is the point: to strengthen businesses and trade in this area.
Alternative currencies or trade systems have existed in a large number of places all over the world, ever since 1934, when the WIR Bank was founded in Switzerland. There are a lot of different approaches, some using actual currency, some, as time banks, crediting people for the hours they spend working for others that they can then trade in for services they need. One of the better known systems here is LETS, as well as the Ithaca Hour (worth 10 dollars) or the Toronto dollar. In economically tough times, these alternative methods of payments or barter systems make particular sense, connecting people without work but skills to offer and people without dollars but the need for help.
And as a sign of just how well accepted these concepts can become: Ithaca has the first credit union now accepting an alternative currency as mortgage payments!





For the last several Thursdays, we have been discussing Rob Brezsny’s 


