The last time this small town in Washington State printed local dollars out of wood was in the Great Depression. Now, the town of Tenino, a community of fewer than 2,000 people near Seattle, has fired up the printing presses after 90 years to fight the virus-induced downturn that has decimated the region.
Tenino residents who can prove economic hardships caused by the virus pandemic are eligible for $300 per month in wooden dollars, subsidized by the local government grant program. So far, the city printed $10,000 of local currency for residents to only be used at businesses in city limits.
The currency is not made of cotton/linen material or 0s or 1s on the blockchain - but rather, wood, as this is the latest example of the rise of "micro currencies" in local communities.
Tenino Mayor Wayne Fournier told The Hustle the wood coins were used during the pandemic to bring back consumption that crashed.
"We were talking about grants for business, microloans, trying to team up with a bunch of different banks," Fournier said. "The big concern was, 'How do we directly help families and individuals?"
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http://www.zerohedge.com/economics/washington-town-resorts-printing-wooden-currency-boost-covid-stimulus-spending?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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