A recent MSM article gave an industry figure that more Americans are now using debt cards than credit cards. Something like 52% to 48%. (Who use cards). Does this mean people are now in the mindset to start looking at alternatives to the dollar as well?
Thu, July 2, 2009 - 9:51 AMI really prefer to carry around paper.
Someone else's accounting doesn't feel
desirable as a universal currency.
Sometimes the card is convenient, but I
really prefer the cash. Something tangible.
That said, I'm totally ok with gold, alternative
Thu, July 2, 2009 - 2:08 PMThat's why I think the Fed Reserve Bank note is convenient and popular.
But so are local currencies where communities have them. And
people have been known to trade in frequent flyer miles... but only
if they are valuable to the individuals involved.
Now volunteer-service banking, that's interesting, but not necessarily convenient.
Thu, July 2, 2009 - 2:31 PMI'll just add that during WW II, Americans very
commonly traded in Ration Coupons. They felt
they were all in the same boat and shared what
they had. So if one had gasoline vouchers and
another offered a ride to work, the voucher was
gifted; or if one had coffee vouchers but needed
gasoline and didn't drink coffee then that was
traded, etc. There is precedent for Americans
using this kind of alternative currency.