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| lcur:local_currencies [2026/04/30 10:04] – Simon Grant | lcur:local_currencies [2026/04/30 10:06] (current) – Simon Grant |
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| In the 1990s, the [Banco Palmas](https://www.institutobancopalmas.org/) was founded in Brazil. A fishing community was moved inland to enable luxury sea-front development. The people had to abandon fishing and create new enterprises. Funds were difficult to obtain, so they set up a bank and their own currency to help local people to trade. The community flourished, and though the Palmas are no longer officially in operation, the currency still circulates unofficially. | In the 1990s, the [Banco Palmas](https://www.institutobancopalmas.org/) was founded in Brazil. A fishing community was moved inland to enable luxury sea-front development. The people had to abandon fishing and create new enterprises. Funds were difficult to obtain, so they set up a bank and their own currency to help local people to trade. The community flourished, and though the Palmas are no longer officially in operation, the currency still circulates unofficially. |
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| After Argentina’s crash of 1998-2002, [many local currency schemes](wp>Crédito) appeared, with local notes holding their value compared to the state currency (which was subject to hyperinflation). | After Argentina’s crash of 1998-2002, many local currency schemes such as [[wp>Crédito]] appeared, with local notes holding their value compared to the state currency (which was subject to hyperinflation). |
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| In 2006 the [BerkShares](https://berkshares.org/) scheme was launched in Massachusetts. Their beautiful notes, featuring local celebrities like Herman Melville, are made on the same presses as federal dollars, and are issued and redeemed by local banks (which is not legal in the UK). To encourage use of BerkShares, when converting to Berkshares you get an extra 5%. And to discourage extraction, you lose 5% when converting back. | In 2006 the [BerkShares](https://berkshares.org/) scheme was launched in Massachusetts. Their beautiful notes, featuring local celebrities like Herman Melville, are made on the same presses as federal dollars, and are issued and redeemed by local banks (which is not legal in the UK). To encourage use of BerkShares, when converting to Berkshares you get an extra 5%. And to discourage extraction, you lose 5% when converting back. |