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:
“When I develop my recipes I always look for ways to create what I call the Big Taste. While I enjoy eating simple grilled foods, what interests me when I cook are dishes with a taste that is fully dimensional.”
—Paula Wolfert, U.S. cookbook writer. Paula Wolfert’s World of Food, Introduction, Harper and Row (1988)
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)