It is an idea of creating a unit of currency, not necessarily a direct monitory value, that is not controlled by the national government and can only be used in a small area or community. It would hopefully help people who are not good at bartering and also help stimulate the local economy by encouraging people to buy locally with that community currency,
Jct: Best of all, when your local currency is pegged to the Time Standard of Money (how many dollars per volunteer hour labor) hours earned locally can be intertraded with other timebanks globally! In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours. http://johnturmel.com/unilets.htm is my own rudimentary timebank page.
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