The Bristol Pound

Click here to read about the creation of a new currency in Bristol - the Bristol Pound (hat tip to Chris Colvin, an old Bristolian)  Unlike past attempts to create a local currency, the creators of the Bristol currency have taken care of the last period problem associated with fiat money.  How have they done this?  Well, in true Thompsonian fashion, the local government accepts the new currency as payment for local taxes (rates)!  This ensures that it has value in the last period, and therefore encourages traders and shoppers in Bristol to use it.