Kenmares new currency

Tech3

Today Kenmare announced that they are creating their own local currency

Its called the YOURO and is the same rate as the current euro

The notes look like they were drawn in ms paint

http://transitiontownkenmare.wordpress.com/2009/04/20/32/

The date has been set for the launch of our own local currency. The Kenmare YOURO will be officially available on the night of the launch MAY 15th at the BrookLane Hotel at 6.30pm.

The first 50 lucky people through the door will be given one YOURO for free. As it is part of the Transition Town Kenmare’s initiatives the launch will be more party than meeting and there will be music and refreshments after the official ceremony.

We are at present compiling a list of participating businesses in the locality, if you would like your shop, hotel, guesthouse, bar, or business included in the scheme please email: transitiontownkenmare@gmail.com

The YOURO’s can be purchased by local businesses and individuals from TTK and the Chamber of Commerce and will also be available at the Tourist Office in the square. The list of participating businesses will be displayed on this site, the Facebook Group page, the Chamber of Commerce website at www.kenmare.com and the public noticeboard in the square.

My name is URL

Words cannot express the levels of fail

giggsy664

It's so it stays in Kenmare's economy and doesn't go out.

Good idea tbh. And legal.

jester77

A lot of regions use local currencies successfully in Germany

Tech3

"The loss of value is intended to encourage the money owners to spend their money quickly in order to boost local demand"

I bet the people of Kenmare didnt know this

Good reading in that pdf, thanks jester77

Crann na Beatha

This post has been deleted.

Berty

Reminds me of the Simspons episode.

Arriving at Itchy & Scratch land. Homer buys $1100 worth of Itchy & Scratchy money because it is "fun" and when he gets into the park nobody will accept it.

segaBOY

Would be so easy to counterfeit.

andrew

How is this meant to work? If the Youro keeps a contant value, than why would people spend it any more than they already spend Euro?

RoundTower

is it any different from the Bank of Ireland being allowed to issue sterling banknotes?

RATM

This local currency idea is used in many small American communities at the moment and it works well. The buyer gets a 10% discount off whatever they are buying with the local currency and the vendor is assured the money stays in the local economy and keeps going around and around again.

However I dont see any mention of 10% off purchases when using 'the Youro' in Kenmare so I doubt this will work.Theres not much motivation for people to go to the hassle of changing Euros into Youros if there is no immediate benefit for themselves and if they have the disadvantage of only being able to spend them in limited businesses.

And the main reservation anyone could have with the Youro is counterfeiting. Those Cork folk will be busy at the printing press trying to collapse the Kenmare economy before long:D

msg11

Tis a joke right ? Theres a game called Monopoly if they want to play with money and be wbanker

Shacklebolt

msg11 wrote: »

Tis a joke right ? Theres a game called Monopoly if they want to play with money and be wbanker

To be honest forging money would be much simpler than learning the rules of monopoly.

netwhizkid

tbh take no notice, the best thing the could do in Kenmare is harvest their own hot air and they could be self sufficient in Power. Another hairbrained idea in Kenmare from the Monster Raving Looney Pary*. The town is in such a bad state at the moment and stinks of sh1t as the place is getting new water and sewage and the traffic system would normally be diabolical by now except Tourists are not coming this year. However the way things are going currencies like this may be the future as our ability to trade Euros will kaput once the IMF comes in to run the country soon.

*Fianna Fail

Coriolanus

I have reservations about it, but it's been working quite well in several places in England, Germany and the US. There was a positive-sounding article recently about it in the Economist. (? One of the periodicals anyway.)

SoupyNorman

What a f**king stupid name for a currency.

omyatari

SoupyNorman wrote: »

What a f**king stupid name for a currency.

yea damn the European bastards who gave them the idea!

"shakes fist, Rabble rabble rablle....."

Victor

So this is a public pyramid scheme that peeople want to join (as usual).

I strongly doubt the money stays in the local economy as people can't buy everything in the local community.

Like, you buy toilet roll from the shop keeper. There is no toilet paper factory in Kenmare. How does the shop keeper buy toilet roll?

phill106

Victor wrote: »

Like, you buy toilet roll from the shop keeper. There is no toilet paper factory in Kenmare. How does the shop keeper buy toilet roll?

I believe he just washes the old toilet paper, drys it off and rerolls it on the saved cardboard tube!

Now wheres my colour printer gone, i need to go to kenmare....

Capt'n Midnight

Don't forget that the revenue will treat it as if it's real money. You can't avoid taxes with this.
/2c

shenanigans1982

Will the local shop put all it's prices up to confuse the people of Kenmare when the money is issued?

Saibh

YOURO - just another fancy name for gift vouchers