Financial Institutions Project Make your own Money Webquest The instructions for completing the Webquest are below. It may be best when you have to view external links to right click and open in a separate window instead of the course window (you will not have to use the "back" button as much. You may want to print out and read the instructions first and absorb what the project is asking you to do. Introduction 2 Bills. Bread. Cash. Dinero. Dough. Loot. Moolah. Cha-Ching. Money. As the song says, "A Mark, a Yen, a Buck, or a Pound is all that makes the world go around, that clinking Clanking sound, can make the world go around." 3 But, what IS money? Where does it come from? How does it get its value? How does it reflect what the community values, conceptually and artistically? Does anyone or any group have enough of it? To start thinking about money as more than just a way to get things, but as a way to make things, and as things that are made, use this reflective writing process: Songs in the Key of $. Did you know that you can, legally, make your own money? What kind of money would you make? Task Communities around the world have developed alternative money systems. "Alternative money system" refers to: currencies that are alternatives to federal dollars or bills, or
alternative methods of exchange to dollars and bills. In countries from Africa to the Americas, in towns in Australia, Canada, England, France, Japan, Mexico, Scotland, Senegal, Switzerland, Thailand, approximately 800 communities have developed alternative money systems. Some are based on their own "dollars;" others on barter systems of exchange. 5 The American town of Ithaca, New York, Canadian Salt Spring Island, and the city of Toronto are among the 20 estimated North American communities that currently operate their own, unique community currencies. In Britain, there are an estimated 200 local exchange and trading systems or LETS. In Australia, LETS systems have been so successful, it was said that if the global economy crashed, "Australia would be the country most likely to survive, having developed a thriving alternative economy." In the U. S., community currencies are "local" because they must be spent in or near the community where they were created. They, like the examples shown on these pages are legal as long as you can easily distinguish the bills from the ones bearing the presidents' portraits. "Like the United States dollars, local currencies are a legal form of taxable income. The Federal Reserve and the IRS have no prohibitions on local currencies as long as their value is fixed to the United States dollar, the minimum denomination is worth at least $1, and the bills do not look like federal money." LETS barter projects base their systems on credits that are managed in a variety of forms, from dollars to lists in spiral notebooks or computer databases. They list hours of work "banked" or services exchanged or goods bartered. In order to be viable, both systems must match the needs to the values of the community for which they are developed.
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- Fall '19