Nation of Deseret
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Zo-ma-rah (Pure News)
Currency
Local Currency
The Nation of Deseret is working to develop a local currency. This currency will be used within the Deseret region as an alternative to the dollar. The purpose of this currency is not to replace the dollar but rather to provide a localized currency to improve the use of local products.
How It Works
Local currencies are used to improve local economies. They work because they have limited use. This means that they are only accepted within a certain geographic region, in this case the Deseret region. A Deseret currency would only be accepted within the Deseret region. So if a person has the Deseret currency they can only spend it in places that accept it.
The result of this is that money stays within the Deseret region. The more money that stays in the region the better the economy will be.
Developing a local currency will help increase our resistance to external economic problems.
