Great Depression 2020? History Repeating in This City (Economic Collapse) | Behind The Hustle Ep.10

About this video

Mike Waters, a writer at The Hustle, discusses a Washington town called Twisp that created its own wooden currency during the Great Depression to keep money circulating locally, and is reviving the program in 2020 to help low-income residents affected by the pandemic. The episode explores how local currencies work, their distribution model targeting below-poverty-line residents, and research suggesting cautiously positive but mixed results on their effectiveness in boosting local economies.

Key takeaways

• Twisp, Washington created wooden dollars in the 1930s during the Great Depression and is reprinting them 90 years later using the same 1890s newspaper printer, limiting circulation to local businesses only to keep money in the community
• The town is distributing $10,000 in wooden currency to low-income residents who can prove they’re below the poverty line and affected by the pandemic, with nearly all local businesses signed up to accept it
• Research on local currencies shows cautiously positive but mixed results—roughly half of studied cases showed positive impact on local businesses and employment, while the other half remain inconclusive

Episode details: published June 12, 2020 · 1.4K views · 6:50 long. Summary written by Self Growth Videos from the episode itself. The business ideas, figures and results discussed are the hosts’ and guests’ own claims, shared as brainstorming and entertainment — not verified facts and not investment advice.

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