Spending Time in Portland (Maine)

Source: Center for a Stateless Society
by Eric Fleischmann

“Since 1971, when its convertibility into any precious metal was suspended, the US dollar has been a de facto fiat currency. Meaning, in this case, that its value is only maintained by government regulation. But what if money was based on something else? Like time. … Founded and initially funded by Dr. Richard G. Rockefeller, MD, the mechanism of Hour Exchange is simple: if you work or sell something for x number of hours (unit of time), you can bank x number of hours (unit of currency). You can then use that to employ someone or buy something offered for x hours.” (10/01/21)