Is the US ready for an alternative?

topic posted Thu, July 2, 2009 - 5:39 AM by  B
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?
posted by:
offline B
  • I 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
    currencies, etc.
    • B
      offline 124
      I believe that if a currency that you can carry in any amount that would be hard to find, hard to counterfeit and hard to trace were available then many people would gravitate to it.
      • That'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.
        • I'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.

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