Well-known trader Walter Ryan Purcell who runs Loughbeg Farm near Schull has a regular pitch at Skibbereen Farmer’s Market and is offering customers silver coins to the value of €20 and €10 and copper coins worth €1 each as an alternative to euro currency.
Walter said, “When you buy some food products you can get your change if you like in real money with a value, silver. It’s while stocks last as I have a limited supply, but I can get more on a weekly basis”.
Walter said that he came up with the idea because he has little confidence in the future of the euro and he believes that local currencies are the best way to offset future disaster.
“Silver has a real value. The euro is on the brink and currencies internationally are under serious pressure. Quantitative easing‚ or simply printing money with no real value has been going on in the US over the last few years and is about to start in the EU in the next few weeks,” he said.
He added, “On the 23rd of December recently the Irish government created and destroyed half a billion euros. However this has to be paid back‚ by future generations between the years 2038 and 2053. Another €24.5 billion is going to be created and destroyed during the next decade, which again has to be paid back.
“In the meantime we also have to pay the interest on this €25 billion. It doesn’t make the news but this is what is actually being quietly organised by our government these days. Wouldn’t it be great to have a local or national currency, maybe as well as an international currency. The silver and copper coins are the next best thing, or even better! The price of silver can fall and rise on the international markets. It’s pretty low at the moment.
“If the international monetary bubble bursts at least we would have a real currency of silver and copper coins to work with in West Cork. Little by little we all could build up a pot of real money in many households,” he said.