The Bristol pound is giving sterling a run for its money
theguardian.com
The Bristol pound is giving sterling a run for its money
1–10 of 61 posts
Re: The Bristol pound is giving sterling a run for its money
#2There might be £700k printed and in peoples' hands, but it's an extremely unusual thing to see someone using the Bristol Pound here, despite the huge range of places that do accept it. I suspect that most of the money doesn't move fluidly around the economy.
Re: The Bristol pound is giving sterling a run for its money
#3See also the Brixton Pound https://brixtonpound.org/
Re: The Bristol pound is giving sterling a run for its money
#4There might be £700k printed and in peoples' hands, but it's an extremely unusual thing to see someone using the Bristol Pound here, despite the huge range of places that do accept it. I suspect that most of the money doesn't move fluidly around the economy.
Have you ever tried using one? Most places are really hostile to them, especially the buses.
Re: The Bristol pound is giving sterling a run for its money
#5Not sure I understand how this works. In what way is it different or more beneficial to Sterling if it's on parity?
Re: The Bristol pound is giving sterling a run for its money
#6Not sure I understand how this works. In what way is it different or more beneficial to Sterling if it's on parity?
It's a sort of voluntary capital control. It's convertible in only one direction and you can't spend it outside of Bristol. The effect is to encourage local circulation of money rather than letting profit escape Bristol.
(I suspect, like a lot of local currency schemes, people also end up benefiting from tax evasion, although I've no evidence on that)
Re: The Bristol pound is giving sterling a run for its money
#7There might be £700k printed and in peoples' hands, but it's an extremely unusual thing to see someone using the Bristol Pound here, despite the huge range of places that do accept it. I suspect that most of the money doesn't move fluidly around the economy.
Have you ever tried using one? Most places are really hostile to them, especially the buses.
Not for a while, no. Last time I did around the Watershed they seemed okay about them, but I don't think I'd chance them on the bus :/
Re: The Bristol pound is giving sterling a run for its money
#8Interesting. What if businesses stop accepting it though? It looks like you can't convert it back to sterling so you'd be stuck with it, unable to spend it and it would become worthless. Is that right?
Re: The Bristol pound is giving sterling a run for its money
#9Interesting. What if businesses stop accepting it though? It looks like you can't convert it back to sterling so you'd be stuck with it, unable to spend it and it would become worthless. Is that right?
It's backed by Sterling held by the Bristol Credit Union, who allow you to convert it back (probably subject to a transaction fee).
Re: The Bristol pound is giving sterling a run for its money
#10There might be £700k printed and in peoples' hands, but it's an extremely unusual thing to see someone using the Bristol Pound here, despite the huge range of places that do accept it. I suspect that most of the money doesn't move fluidly around the economy.
Have you ever tried using one? Most places are really hostile to them, especially the buses.
Really? I ended up with a couple of notes once, I was a bit worried about using it but the bus driver was just fascinated by them, very happy to see and accept them. They're very pretty, which I think takes the edge off the risk you take in accepting one.
I can imagine different reactions, of course!
Why would bus drivers specifically be hostile to them out of interest, it seems like it'd be no skin off their nose?