Brooklyn Artists Create New Currency

Leave it to starving artists to create a new kind of currency! The Brooklyn Torch Project consists of a group of creatives whose aim is to "create a local currency to benefit the local area businesses and artists" and "bring together both artist communities and immigrant communities in our area to improve integration of social groups and economies and boost our pride." The Daily News reports on the idea today, noting the Treasury Department is totally cool with people printing their own money in the U.S.; it will be subject to the same taxes as the dollar, and the exchange rate will be one to one (though "businesses might provide incentives for shoppers to spend money locally, ultimately raising the Torch's value"). The artists point out that there is a similar program in Ithaca, which began in 1991; “An Ithaca HOUR will generate 30 times more economic activity than [a dollar] will," meaning more money for the community. Expect to see Torch bucks being passed around Greenpoint, Williamsburg and Bushwick by the Fall; currently the group is looking for a design to grace the bills, and you can help!

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By Jen Carlson in Arts & Entertainment on August 12, 2009 4:37 PM

Comments [rss]

boswald143

Fancy Coupons?

Wza

How about a picture of the Grifter on the front of the bill?

On the back it reads, "In mouth handjobs we trust"

ivyleaguecrew

I highly doubt the people printing this will have the technology to prevent counterfeits.

NannyState

I used my Hipster $$$ to buy an authentic pair of Ray Ban replicas!

endoubleu

Local currency is a surprisingly common thing. And according to this list, this isn't even the first time it's been tried in Brooklyn.

spiritross

That list is awesome!

I want some High Desert Dollars or Mo' Money from New Orleans.

robingee

I'm waiting for the currency printed by the Montana Militia to be used.

graybanks

And who doesn't fondly remember Flooz?

http://en.wikipedia.org/wiki/Flooz.com

Jen S

I'm so sick of people using phrases like "in these uncertain economic times."

GOP

I'm sick of "now more than ever"

Jen S

Ugh, yes!

Radtard

5 Stanley Nickels duh

ides_of_march

Might come in handy when the dollar finally collapses, and make no mistake about it, that's the plan.

oof

it would be cool if it caught on. first step to succession!

100 schrute bucks = one cent, 1000 schrute bucks = one dollar, so 1000 schrute bucks = one torch currency.

it sounds dumb, but the point is that the money you make in the community stays in the community, which isn't a bad thing. ithaca hours are actually each worth $10, which is supposed to support the idea of a living wage and equates money with time (one hour = 10 dollars).