Thursday, April 9, 2009

23 Schools Closing In Detroit!

The Detroit Free Press reports that as a result of facing a $305 million budget deficit, the Detroit Public School System will close 23 schools impacting 7,500 students. In addition to the closings and supposedly unrelated, 600 teachers are expected to receive layoff letters.

1 comment:

King of the Paupers said...

Jct: They should borrow enough "Detroit Cheers" dollars to pay all their teachers and expenses which can be used by Detroit residents to pay the taxation for their schools. Another great use for the Detroit Cheers community currency. Everybody would take Cheers if everyone could pay for their children's education with them.
When Argentina's government workers were faced with cuts, their unions talked 6 state governments into paying them with small-denomination state bonds which could be used to pay for state services and taxes and which everyone accepted as useful currency. Too bad these 600 teachers can't convince Detroit to let them take bond money too.

Either way, there is insufficient Federal Reserve money so you'd better set up your own local money fast.
Best of all, when the local currency is pegged to the Time Standard of Money (how many dollars/hour child labor) Hours earned locally can be intertraded with other timebanks globally!
In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours.
U.N. Millennium Declaration UNILETS Resolution C6 to governments is for a time-based currency to restructure the global financial architecture.
See my banking systems engineering analysis at with an index of articles at