To all this would be to eliminate Walmart (though their prices are cheaper). Walmart doesn't do so well spending within the community. I've always been a firm believer that if you deal with a "local business owner" your dollar will turn 10 times within that community, city or county.

Walmart has been the "cancer" to small towns thru out America. To this day, I refuse to go into a Walmart as I live by what I preach, be smart in your purchases (even if it cost a little more) and deal locally.

@Acure: Brilliant. Have fun paying higher prices and standing on your principles. But I don't see how Walmart has anything to do with local currency. Where are the rants about how the dollar is worthless anyway? Surely Earl will weigh in on the folly of the Fed.

Invisible Hand: Yes, guess I'll try and keep the economy afloat.......Happy shopping at Walmart and may you keep those minimum wage employees content with their life style by absolutely getting no where in life!

Today I live the American dream. I own a house, a car, much other stuff, sleep warm and eat regularly. With all of that I seldom see or handle real money. The vast majority of my money is just numbers on pieces of paper. Seems like the only time I use real money is to get a haircut or buy something at a yard sale.

Funny money and coupons are great ways for merchants to get customers to buy their products. And if carried into the barter system might provide a good medium of exchange. A small businessman, I know, when he needs something searches for someone who is willing to trade the thing for something that this small businessman has. The point is they pay no taxes on the exchange.

I wonder, would people like this be called tax cheats.

Thank you for mentioning The Forgotten Man!
The vallar is an interesting topic. What stands out about the 1930s scrip communities is that they were just that, communities, with, often, another element pulling them together, be it faith or utopianism. Father Divine, the cult leader who preached self-sufficiency through real estate, was also a big presence in the 1930s.
The history we learned always tended to leave out the faith/affinity component. But researching the 1930s, you learn that faith can play a role in economies: the run on the bank that didn't happen because the people stuck with their community. Marriner Eccles's story, with his banks, is part of the New Deal story.

The workers at Walmart are acting in their best interest by working there, as I am when I shop there. It's a win-win. The only loser is the shopkeeper who can't figure out how to make a profit in the modern world without resorting to government to try and keep Walmart out.

This concept is already in practice in our community where you can advance purchase more for a discount.

As an American living abroad, I have seen first hand how honorable our country is in standing behind its banks and insuring its depositors. Ours is the only country to make sure depositors, and even those that exceed the insurance limit, do not lose money.

It's pointless to worry about the BIG world economy or Walmart, because truth be told, there is much more going on in the world economy of which 99.9% of general citizens worldwide are not even aware of and there is little truth in the media about the amount of money moving between banks and countries.

So, buy sustainable goods, pay off your debts and grow a garden. Exchange goods and services in your neighborhoods as this will keep the economy strong where you live. It will take your mind off of things you are not truthfully informed about anyway - so don't fret, just be busy about your daily tasks and let the BIG picture take care of itself. This will bring happiness a lot sooner than getting rid of Walmart will.

@Invisible Hand: I didn't want to disappoint you. The Fed is folly. Feel better now?

My only actual comment to this would be that I'd prefer a local banking system that had 100% reserves, especially if it weren't part of the central banking system. The Free Lakota bank is an example of a bank doing it now. Ok, that's as close as I can get to a comment about the Fed. Maybe Walmart will open its own 100% reserve bank, huh? Better yet, how about one that issues convertible scrip?

I knew we could count on you Earl. Sometimes you sound a little extreme, but I admit you have a good grasp on your favorite topic.