Comment by bbminner

Seriously though, i doubt that "the rich across the globe" conspired to ban emergency currencies. I'd be curious to see a more in depth analysis of what are factors driving such local economies vs centralized currencies.

Is it precisely that the currency could not be exported outside the local region - that made it a barter tool vs an investment tool - that made it less affected by such external events as great depression?

What was the central government fearing? I'm sure there's a reason why it might be a less than ideal situation. Maybe because it is effectively a financial pyramid (more so than the primary currency) - a bunch of local govt making their local currencies with unclear unregulated printing schedule could result in many people not assessing their real purchasing power adequately?