The Dollar is Being Replaced?

Maybe Congresswoman Michelle Bachmann was on to something when she worried about the dollar being replaced by a new currency. But it turns out the threat isn't China or the G-20 but local communities that decide they need to increase the money supply by printing scrip.

My head starts to hurt when I think about the macroeconomic implications of something like this, so I'm going to post a link to Paul Krugman's classic article on the imploding, scrip-issuing, baby-sitting co-op and leave it at that.