...The idea is called “express money” that would be issued by governments. It would have fast circulation with a 2 percent levy for hoarding notes with a 10 percent charge for conversion into euros. A supporting document co-written by Gelleri reminds readers that doubling monetary velocity, doubles gross national product....Now it's Oxford. From the BBC:
Oxford is set to follow in the footsteps of Bristol, Lewes and Totnes by introducing its own currency.
A group in the city hopes to launch the Oxford Pound in 2014 in a bid to boost the city's economy.HT: naked capitalism
A similar scheme run by the Bristol Credit Union has been hailed a success, with more than 1,000 members and £100,000 of deposits.
The scheme aims to support local businesses and keep money circulating within the local economy.
Adam O'Boyle, who is leading the Oxford project, said: "Although we think Oxford is a great city, it could always be better.
"We were really impressed by what they're doing in Bristol in terms of increasing trade to local businesses, increasing the profile of the city."
Mr O'Boyle, who runs Turl Street Kitchen - a community business that supports the Oxford Hub student network - said a working group had been set up and discussions were taking place with the Bristol group about the feasibility of the scheme....MORE
