In the new post-credit bust era, there is less money to go around. Where capital flows, will dictate which businesses and communities thrive and which falter. This new wave of “protectionism” will mean lower global trade, but a focus on wasting less and recycling more cash flow back into the coffers of individual families, towns and countries, rather than to outside investors and foreign countries, is a trend that will continue for some time as the new normal. This means people and places with more domestic wealth, like North America, are likely to fare better than places with less domestic wealth, like Asia.
Residents in Bristol, England now have the option of swapping their traditional banknotes for the Bristol Pound, as part of a new scheme to try and boost the local economy. More than 350 firms in the city have signed up, making it the UK’s largest alternative to sterling.
But other local currencies have never really taken off, so can the Bristol scheme buck the trend? The BBC reports. Here is a direct link.