In a blow to Big Bankers, a small Washington town of Tenino has started minting its own wooden currency amidst the Coronavirus crisis. By having its own local currency Tenino wants to keep the money in the community.
In a blow to Big Bankers, a small Washington town of Tenino has started minting its own wooden currency amidst the Coronavirus crisis
The currency has the name of the town, ‘Tenino’ superimposed on the image of a bat
The wooden note contains the words “COVID relief” accompanied with the Latin phrase “Habemus autem sub potestate” in cursive, which suggests, "We have it under control
Residents of Tenino, who are below the poverty line receive money from the $10000 fund; when they apply for it
If approved, they are given Tenino's wooden local currency which are worth $25 each
Every resident can acquire 12 wooden notes or $300 on a monthly basis
By having its own local currency Tenino wants to keep the money in the community