Example of A Fully Funded Complementary Currency
The Toronto dollar system is fully funded by (i.e. backed by) Canadian dollars. Participating merchants are free to exchange the Toronto dollars for Canadian dollars.
In addition to being supported by any number of social activists, including philosophers, clergy, artists, etc., it is fully supported by a growing number of political leaders, past and present, including, over the years, several mayors of Toronto.
Read more about this topic: Complementary Currency
Famous quotes containing the words fully and/or currency:
“Television programming for children need not be saccharine or insipid in order to give to violence its proper balance in the scheme of things.... But as an endless diet for the sake of excitement and sensation in stories whose plots are vehicles for killing and torture and little more, it is not healthy for young children. Unfamiliar as yet with the full story of human response, they are being misled when they are offered perversion before they have fully learned what is sound.”
—Dorothy H. Cohen (20th century)
“There is no legislation—I care not what it is—tariff, railroads, corporations, or of a general political character, that all equals in importance the putting of our banking and currency system on the sound basis proposed in the National Monetary Commission plan.”
—William Howard Taft (1857–1930)