posted on Jun, 21 2012 @ 05:15 AM
if the local communities are smart, they are asking themselves that same question, along with alot of others.
to me, it seems that bit coin would have much the same problem as the dollar has now, it would be just way too easy to create it out of then air,
since it's only bits and bites in a computer, and a computer has an amazing amount of bits and bites! whatever is used, it should have something of
substance backing it up, much more than someone signing on the dotted line a promise to pay on a loan or just punching numbers into a keyboard.
if things got bad enough, I could see communities coming up with their own solution, local currencies that could be used to at least buy those things
that are produced locally along with cooperation with neighboring communities for products that aren't available in their own community. we'd be
going without alot, but, we'd also have alot of idle people who would probably be setting up shop in their own homes producing something!
right at the moment, greece's economy is approaching a standstill. govt isn't paying their debts, companies are getting orders and having to refuse
them because they can't get the cash for the materials to fill the order, people working but haven't gotten a paycheck in months, and the bailouts
come into the country just long enough to redirect them back out of the country to pay the bills the country owes to gov'ts and companies outside the
and since china is so much cheaper, those that are still able to do business are placing their orders with companies in china instead of their usual
suppliers in germany, so, it's affecting the entire eu block!
if the us gets that bad, I think it would be time to forget about the world currency, or even the national currency, and start worrying about your own
little neck of the woods! concentrate on supplying the members of your own community with what they need and a local currency to pay your employees
so they can obtain what they need, and let the rest of the world go to hades if they like...