If you are a member of a preparedness or mutual assistance group, I feel it is getting to be much more important to understand the importance of being ready for any emergency situation. You hopefully stockpile food storage, water, and medical supplies, and practice survival skills. However, one aspect that many preparedness groups overlook is the need for a currency system of their own in a grid down or long term emergency situation. I’ve written about this before, here, but here is a fresh take.  In this blog post, I will explain why I believe every preparedness or MAG group should create their own currency as a future-proofing strategy to be used by them if the SHTF.

In a crisis situation, traditional currency may become worthless or inaccessible, and bartering can become difficult. By creating your own currency, a preparedness group can establish a system to facilitate trade and commerce. This can help group members acquire necessary goods and services that may not be available through bartering.

Furthermore, a preparedness group currency system can help build community and group cohesion. When group members exchange goods and services using the group currency, it creates a sense of shared responsibility and strengthens the bond between members.

Benefits of Having a Preparedness Group Currency

There are several benefits to having a preparedness group currency. First, it provides a means of exchange that is not dependent on the traditional banking system. In the event of a financial crisis or collapse, having a currency that is not tied to the value of fiat currency can be a valuable asset.

Second, a preparedness group currency can help to stabilize the group’s economy. By establishing a fixed exchange rate for goods and services, the group can avoid inflation and ensure that everyone has access to the goods and services they need.

Finally, a preparedness group currency can provide a sense of security and stability for group members. Knowing that they have access to a stable currency system can reduce anxiety and provide a sense of control in uncertain times.

How to Create a Preparedness Group Currency

Creating a preparedness group currency is not as difficult as it may seem. Here are the steps to follow:

• Determine the value of the currency: The value of the currency can be tied to a specific commodity, such as gold or silver, or it can be based on a point system if you are not going to back it by anything.
• Create the currency: The currency can be physical, such as coins or paper bills, or digital, such as a blockchain-based currency.  Keep in mind that blockchain is a mute point if there is no power or internet connection to trade the currency.  There are several thoughts here, that I will get to towards the end of this blog post on physically creating the currency.
• Establish an exchange rate: Determine the exchange rate for goods and services in the group currency. This rate should be based on the value of the currency and the value of the goods or services being exchanged.  For instance, if you determine that your self created “One Dollar” or whatever you are calling it may be worth the same as the US Dollar at a 1:1 ratio.
• Distribute the currency: Distribute the currency to group members and establish a system for exchanging the currency for goods and services. How you distribute the currency is up to you, of course.  Everyone can get an equal amount, and then have some as reserve currency for the “bank,” if you like.

Examples of Preparedness Group Currencies (Not mentioned in my previous blog post)

Several preparedness groups have already created their own currency systems. For example, the Free Lakota Bank in South Dakota issues or issued its own currency, which is or was backed by gold and silver. The currency was said to be used to purchase goods and services within the Lakota community.  At the time of this writing the Free Lakota Bank website was not functional.  

Another example is the Ithaca HOURS system in New York. This system uses a time-based currency, where one hour of work is equal to one HOUR. This currency can be used to purchase goods and services from other members of the Ithaca community.

Future-Proofing Your Preparedness Group with a Currency

Creating a preparedness group currency is an investment in the group’s future. By establishing a stable currency system, the group can weather economic or financial crises and ensure that members have access to necessary goods and services.

Furthermore, a preparedness group currency can help to build a resilient community that is better equipped to handle emergencies. By establishing a system of exchange that is not dependent on traditional banking systems, group members can feel more secure and confident in their ability to handle any situation.

Legal Considerations When Creating a Preparedness Group Currency

Before creating a preparedness group currency, it is important to consider legal implications. Depending on the country or state in which the group operates, there may be regulations or laws governing the creation of currency.

It is important to consult with a legal expert to ensure that the group currency complies with all applicable laws and regulations. This can help to avoid legal issues that could undermine the group’s stability and security.

How to Promote and Market Your Preparedness Group Currency

Promoting and marketing a preparedness group currency is important to ensure its success. Here are some tips for promoting and marketing your group currency:

• Educate group members: Make sure that all group members understand the value of the currency and how it works.
• Develop marketing materials if you have a large MAG or preparedness group: Create brochures, flyers, or other materials that explain the currency system and its benefits.
• Establish partnerships: Work with memberships who have plans to have large gardens, livestock, are tradesmen with skills that are a benefit to everyone in the group to accept the group currency and promote its use in the event that it must go into circulation within the group itself.

Challenges to Consider When Creating a Preparedness Group Currency

Creating a preparedness group currency is not without its challenges. Here are some challenges to consider:

• Resistance to change: Some group members may be resistant to the idea of using a new currency system.
• Lack of trust: Establishing trust in the currency system may take time, especially if you have a large group.  We preparedness types are typically skeptical of others, even if we have a friendship or relationship with them…
• Limited acceptance: The group currency may not be widely accepted outside of the group. And it shouldn’t be.  It’s 
• Counterfeiting: There is a risk of counterfeit currency being introduced into the system quickly by those with the resources to scan, print, etc. if utilizing a paper currency that could easily be replicated (i.e. not on a synthetic paper)…

Physically Creating Your Currency

Hours Based Like Ithaca HOURS

This is likely the least expensive way to go to market with your own currency.  The cheapest way to get started, buy a ledger, and write everyone’s name in it.  Designate who the banker is going to be.  Likely your Treasurer… 

Designate a work/job “Validator”.  And every time at the end of the day, the person who worked reports to the Validator to verify the work and the hours.  They then provide a receipt to the person who worked, and the time is marked in the ledger.  

When someone wants to buy/sell something another receipt is created and the accounts are credited and debited at the Treasurer level, and validated back to the individual their balance.  

This way you have a master record, the individuals can track their own currency hours, etc.  When they want to go buy some Tomatoes because they need a few, they can go to the neighbor or community bodega, and trade 15 minutes for the tomatoes and a receipt, etc.

Printed Paper

This is pretty obvious I think.  The process is pretty easy.  You could design it in a tool like Canva, and download it as a PDF for safekeeping.

You could then print on an inkjet printer, laser printer or color laser printer your currency, and cut it to size.  That said, a couple of considerations are:

1. Should you be using an inkjet printer, notorious for the ink running when it gets wet?
2. What type of paper should you use that would be more durable so that you do not have to keep printing over and over and over again because the paper rips or gets worn out quickly.  

My suggestion, may be a color laser printer, and synthetic paper like a Rite in Rain type of paper made to go through a laser printer.  This way you have a more “permanent” print on the paper, and something that can be cut down and is much more durable than a plain sheet of copy paper.  It’s not inexpensive, but if the group pools a bit of money, you can buy enough to print an ample amount up front to keep in storage or distribute to the group so they have it in the event the SHTF. 

Alternatively a thought could be to have a “business card” design created (also using Canva) and having the currency printed on business cards that you can have 1,000 of printed at a time.  For instance, if you wanted 10,000 $1 currency dollars you could have 10,000 of them printed pretty inexpensively, etc. etc. etc.  These are durable but would eventually have to be replaced if not properly cared for.

Coin or Token Based

This is likely the most expensive, the most complex, but the coolest fun way to make your own currency.  Literally you can design them in a CAD program, purchase a 3D printer, the printing supplies, and begin printing your own tokens.  This could take a LONG time, can get expensive, but also gives you a physical currency that is unique, lightweight, and easily stored as well.  

Conclusion – Why Every Preparedness Group Should Consider Creating Their Own Currency

Creating a preparedness group currency is a valuable future-proofing strategy that can provide several benefits. By establishing a stable currency system, the group can facilitate trade and commerce, build community, and provide a sense of security and stability.

While there are challenges to consider, the benefits of having a preparedness group currency far outweigh the risks. As a member of a preparedness group, I urge all group leaders to consider creating their own currency as a valuable investment in their group’s future.

Let Us Know What You Think

Are you part of a Mutual Assistance Group?  Have you thought about your own currency in the past?.  Did we miss anything?  What are your thoughts on it?   Feel free to register, and comment with your thoughts about the economy, if we’re full of $#!^ or what you are concerned about.