Monday, April 20, 2009

The Americans printed alternative currency

One of the fresh touches to the portrait of America: the once almighty dollar - is no longer the only currency in the United States. Ithaka small town, north of New York, has issued its own currency. The townspeople decided that if the crisis is not enough, and you need to buy goods, the money can be printed. This is done on plain paper and even without the watermark. These bills can be paid for the CD-ROM or coffee, and even pay the interest on the loan. If the money ran out - they must be printed, we decided to Ithaka in a small town, north of New York, and not complicating the process of applying for bank watermark using plain paper, released its local currency, "ithaka-Auer. "It was a simple idea - people have no money, but was a need, desire and force them to earn, but the U.S. did not have enough," - explains the shopkeeper Steve Burke. The owner of a music store, Steve, selling the discs, will pay in local currency. Similarly, go into the coffee house next door, but, for example, pay for a new TV these signs of money will not fully take only one quarter, and the rest - in dollars. The official rate in the district: one "ithaka-Auer" give $ 10. Turnover of alternative local currency is not prohibited by American laws, so in the bank, with some restrictions (for amounts up to 5 thousand) to take "ithaka-Auer. "It is not yet rich from our currency, none of the top managers did not receive huge bonuses - said bank employee" Alternative credit union "Carol Chernikoff. - All the money left in our commune, stimulate our economy, the impact of the crisis are not felt." The Bank will not accept deposits in that currency, and not changed back to dollars, but the interest on the loan to repay allowed. Local authorities keep money supply in the province, inspiring spending gained at the local food markets, rather than in a large store network, because outside of the district "ithaka-Auer - simply wrappers. Ingenuity of the local treasury praised by the World Bank in Washington. "This is a fascinating story, but if it strengthens the dollar? - Discusses the World Bank's chief economist Andrew Burns. - I suspect not. This is an attempt to soften the impact of the crisis in a given city." That is not a tiny town, and the whole world can find an alternative to the U.S. dollar, Senator Pat Robert, member of Committee on Finance, discusses self-critical. In the days of the adoption of the state budget with a huge deficit the Republicans in the Senate shouted: "We are spending money like drunken sailors." "It just shows how far we have come from the perspective of the world's economic problems - said Pat Robert. - The decision on the new currency is not sufficiently mature. And what it would be - the euro, something else, or maybe go back to the golden dollar? " U.S. ousted English pound, 44-year from the pedestal of world currencies, which the Americans do not want to concede. President Obama insisted during a tour of Europe that the dollar - an incredibly strong. But word on the reliability of the U.S. Barack Obama says in the mission when the U.S. economy at home sets antirekordy - one after the other. First, the unemployment rate in the United States reached 8.5% - the highest figure for the last quarter century. Secondly, the government budget deficit for the first time so high since 1945. And thirdly, the external debt to handle for the mark at 11 trillion dollars to the accompaniment of running the printing press.

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