One dollar bill from the city of Tenino to combat the Covid-19 crisis as an example of out-of-control money printing.

Print your own dollars!

1 minute read
Jun 26, 2020

The little town of Tenino in Washington, USA, recently decided to issue its own currency to ease the economic hardship caused by the COVID crisis.

But how can a town of just 1884 residents issue its own currency?

Well, it's quite simple: the City Council approved an ordinance to print $10,000's worth of local currency.

Tenino residents below a certain level of income can now apply to receive a share of these 10k. Apart from that, the rules are pretty straightforward: the currency can only be used for essential purchases, including food and gas. Almost every business in town accepts the local notes, and twice a month, they can redeem them and turn the notes into cash.

Now, imagine if, after a couple of months, the city council notices that only $5,000 have been claimed?

Then what stops them from issuing $20,000 if their original plan was to spend $10,000? And why not even start paying the staff's lunch expenses with this local currency?

Printing currency is easy, you see.

Printing gold or silver? Not so much.