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:
“I allude to these facts to show that, so far from the Supper being a tradition in which men are fully agreed, there has always been the widest room for difference of opinion upon this particular. Having recently given particular attention to this subject, I was led to the conclusion that Jesus did not intend to establish an institution for perpetual observance when he ate the Passover with his disciples; and further, to the opinion that it is not expedient to celebrate it as we do.”
—Ralph Waldo Emerson (1803–1882)
“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)