Originally Posted By: paul
do Canadian laws prevent its people from creating a local monetary system?
and if you were able to legally create a local monetary system
what would the money be backed by? ...
No. A group of us, in October, 1998, set up the first Toronto-dollar system. The mayor--a friend--was present and bought the first dollars.
There has never been any problem with the government--provincially, or federally. The Toronto $ is backed by Canadian currency. The big challenge is getting enough people willing to volunteer to help make the system work well. Human nature being what it is, new ideas often meet resistance. Look how long it took some nations to get rid of slavery--still a problem in some areas, and cultures.
For details, check out
http://www.torontodollar.com/The next challenge? Freedom-loving people need a truly democratic kind of capitalism--one in which money serves us, not the other way round.
For your information, check out the work of Professor Bernard Lietaer. Recently, he addressed a meeting of our group:
http://www.transaction.net===============================
