One enterprising Russian farmer has a currency backed by potatoes

One Russian farmer tried to start a currency backed by potatoes.

“Fed up with his struggling farm village’s capacity to stay afloat amid the economic crisis, [Mikhail] Shlyapnikov introduced kolions — exchange notes used by villagers instead of cash — last year,” according to the Moscow Times.

“Kolions” are backed by potatoes: one kolion equals roughly 22 lbs (10 kg) of potatoes, and reportedly could be “exchanged for labour or other food.”

On Wednesday, however, a Moscow regional court ruled that Shlyapnikov cannot print or use his own currency.

The farmer argued that “kolions” aren’t actually money — rather that they’re loan receipts. He also added that local authorities were simply jealous and wanted to get revenge on him.

He reportedly plans to appeal the ruling.

Check out the whole story at The Moscow Times.

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