Could a database surpass the Worgl Austria Local Money Experiment???

DennisTate · Sep 19, 2023

This concept will scare some people.......

... probably some multi-billionaires.......

... but we are now in a time period when a whole new way of looking at the precedent set by the work of Irving Fisher Ph. D. can be positively adapted to our time period...... [Being of Light of near death experience fame willing]???????

I admit that I am biased... but from what I have heard.... I am thinking in terms of a SAP database.... although.... yes... that would be expensive???!!!

Step one is for you to know about the Worgl Austria Local Money Experiment that was brought to the USA by Irving Fisher Ph. D. during the Great Depression.

http://www.whatcomwatch.org/php/WW_open.php?id=717

City in Austria Printed Local Currency
Worgl, like many other European towns and cities, was hit hard by the Great Depression. There was mass unemployment; four of the five local factories had closed, and the people were starving in the streets. Nobody had any money to buy anything. One of the features of an economic depression is that there is not enough money in circulation to ensure that people can meet their basic needs, and in the 1930s, the shortage of currency in many countries of the world became catastrophic.

The mayor of Worgl, together with local businessmen, decided to try to break this economic impasse by creating their own local currency. They printed and issued 60,000 Austrian shillings worth of local currency. These shillings could only be spent in Worgl, so they remained in the local community and were exchanged over and over again.

The positive impact was immediate and surprising to everyone. In only six weeks, unemployment disappeared, all the factories had reopened and everyone had food. For the inhabitants of Worgl, the economic depression was gone. This dramatic transformation became known as the “miracle of Worgl.” Surrounding towns, inspired by the success of Worgl, immediately started printing their own local currencies.

Sadly, the miracle did not last long. When the Austrian Central Bank heard about Worgl’s local currency, they initiated legal proceedings against the mayor and local businessmen. According to Austrian banking law, it was illegal for anyone except the Austrian Central Bank to issue money. The bank won the court case, and the mayor was ordered to shut down the local currency, which he did, under threat of imprisonment. The town then returned to the devastating economic depression of the 1930s, with all the human pain and suffering associated with this catastrophe. Factories closed, and once again, the people starved.

Alternative Currency in the U.S.
Irving Fisher, an American professor of economics at Yale University, visited Worgl before the local currency was suppressed and witnessed the ‘miracle’ firsthand. When he returned to the United States, Fisher spread the word by traveling and lecturing across the country, advocating the use of the Worgl ‘scrip’ everywhere. Inspired by his vision, hundreds of communities began issuing their own currency, and by 1934 there were over 1,000 local communities using ‘scrip’ throughout the U.S.

Every one of these communities experienced a tremendous rejuvenation of their local economies. They thrived while others suffered. Fisher then met with President Franklin D. Roosevelt, proposing the implementation of government-sanctioned local ‘scrip’ in every community in America. When FDR consulted with his top financial advisors and bankers, however, he was advised to shut all the ‘scrip’ systems down, which he did. Instead, he borrowed large amounts of money from bankers, at interest, and used it to pay for the Reconstruction Finance Corporation and the other work-creation projects, which collectively came to be known as the ‘New Deal.’ So ended the last widespread use of a local currency within the U.S.

This pattern of economic collapse and re-emergence of local currencies has occurred thousands of times in many parts of the world. When these currencies have failed or have been suppressed, banks have not always been to blame. Sometimes, local currencies fail because they have been badly designed or implemented. Sometimes, people lose interest in them when the mainstream economy recovers. But they have always returned in one form or another during times of economic failure.

Our present world situation is uniquely different. Despite a relatively prosperous and stable world economy, a quiet monetary revolution has been occurring around the globe over the last 20 years. Awareness is growing about the flaws in our current monetary system, and people are re-creating viable alternatives. We are witnessing for the first time the worldwide creation of money systems designed by the people who use them, instead of by central banks.

Time Dollars in Whatcom County
Click to expand...

I have gotten into a variation on this basic idea before.....
but not in the computer and technology forum......

The Worgl Austria Great Depression Experiment and a real estate boom in rural America?

DennisTate · Sep 19, 2023

I guess a second logical question would be.....
are some well financed and obviously brilliant people way, way, way ahead of me in this general idea?

Goldbacks... taking a local currency to a whole new level!

DennisTate said: ↑

In my opinion....
these "Goldbacks" have a great deal of potential....
especially with a "Biden Digital Currency" being talked about.

These goldbacks appealing to collectors....
is actually rather brilliant and seems to take the Worgl Austria Local Money Experiment to a whole new level.

https://www.govmint.com/gold/goldba...15lR7-Flkn5-OGhzSnxLmOImwTraiXJxoCF-IQAvD_BwE

"Goldbacks are a form of voluntary local currency whose intricate designs are crafted from 24-karat gold. In a variety of stunning designs from Utah, Nevada, and New Hampshire, each Goldback has a specific, labeled gold weight, and is considered to be the first voluntary, local currency that can double down as a collector’s item, making them a unique fractional gold addition to any collection."

Is this like what was done after the Worgl Austria Local Money Experiment was introduced to the United States... or is this entirely different?????

In a way... this seems to be very different to me and the potential seems to be huge.
Click to expand...

Log in or Sign up

Could a database surpass the Worgl Austria Local Money Experiment???

Could a database currency be used to set in motion a Newer New Deal?

Yes

No

I sure do hope so.......

I hope not... because I am doing great within the existing system!!!

DennisTate Well-Known Member Past Donor

DennisTate Well-Known Member Past Donor

Share This Page

Log in or Sign up

Could a database surpass the Worgl Austria Local Money Experiment???

Could a database currency be used to set in motion a Newer New Deal?

Yes

No

I sure do hope so.......

I hope not... because I am doing great within the existing system!!!

DennisTate Well-Known Member Past Donor

DennisTate Well-Known Member Past Donor

Share This Page

Useful Searches