The Crime of Alleviating Poverty: A Local Community Currency Battles the Central Bank of Kenya
Interesting blog post by Ellen Brown. Complementary currencies are not new and have been proven effective. Take the time to check out this blog if you haven’t as it is very informative.
Former Peace Corps volunteer Will Ruddick and several residents of Bangladesh, Kenya, face a potential seven years in prison after developing a cost-effective way to alleviate poverty in Africa’s poorest slums. Their solution: a complementary currency issued and backed by the local community. The Central Bank of Kenya has now initiated charges of forgery.
Complementary currencies can help eradicate poverty.
Proving that may be difficult in complex economies, due to the high number of factors influencing outcomes. But in an African slum with little of the national currency available, supplying residents with an alternative currency has a positive effect that is obvious, immediate and incontrovertible.
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