Livingstone's Rather Excellent Funny Money

Ken Livingstone is known to be iconoclastic when it comes to his policies for London. His latest suggestion is that Londoners should have access to a new form of electronic currency or 'e-money' as he puts it. This currency will unfortunately be backed up by the current banking system and seems to be more of a replacement for small change than a complete local replacement currency. But it is a start and may develop into a proper LETS or an alternative currency.

Now as a Mutualist I am in favour of more rather than less currencies. From a supranational Euro via the Pound to local and regional currencies. so this is an interesting development and Mutualists should encourage it further, as it leads to further economic de-centralisation allowing people greater control over their own lives and partially frees them from the central bankers money monopoly.