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How do you invent currency?
Start a Transition Initiative. Organize an open meeting on a topic related to money. Identify and engage your stakeholders. Set up a management team. Decide on the model. Launch a design competition. Decide on your legal structure. Generate start-up funding.
Is it illegal to create a currency?
Under 18 U.S. § 486, it's a criminal offense to make or pass any metal coins “intended for use as current money, whether in the resemblance of coins of the United States or of foreign countries, or of original design.” If true, it is arguably illegal for you to make your own currency and set it free upon the world.
Can you create your own currency?
Simply put, you cannot create the money and then sit back and expect people to use it. Instead, you'll need to keep going out there, talking to businesses and helping them get the people they trade with to accept it. “It is relatively easy to launch a local currency,” says Sunderland.
Is creating your own currency illegal?
It's perfectly legal to create your own currency in the US. There are quite a few community currencies already in existence. They are considered legal as long as they are not used to avoid taxes and can be exchanged for US dollars (Private currency). Historically, banks would print their own banknotes.
Can you start your own currency?
The easiest way to start a currency is to draw up an I.O.U. system that allows your friends to trade hours of work. Hundreds of shops in Ithaca, NY, accept “Ithaca Hours,” a local currency backed, not by gold, but by man-hours.
Can states create their own currency?
States seek currencies made of silver and gold. Unlike individual communities, which are allowed to create their own currency -- as long as it is easily distinguishable from U.S. dollars -- the Constitution bans states from printing their own paper money or issuing their own currency.
Is it legal to mint your own coins?
Federal law prohibits people from making metal coins intended for use as current money. 1 Creation of souvenir coins not intended to act as currency, however, is not illegal. It is also important to note that federal law only prohibits the creation of metal coins.
Is it legal to draw on money?
Yes, It's Legal! Many people assume that it's illegal to stamp or write on paper currency, but they're wrong! You CANNOT burn, shred, or destroy currency, rendering it unfit for circulation. You CANNOT advertise a business on paper currency.
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