A time limited dollar or digital currency is the best way forward for New York City

MANHATTAN, NEW YORK / ACCESS Newswire / July 11, 2025 / Scanning the sky for fire works on a 4th of July evening, Abbey Laurel-Smith, an Independent candidate for Mayor, city of New York said, "creating a time limited dollar is the best way forward if we are really serious about making New York City safe, secure, livable and sustainable for all".

Few hours before, Abbey was at McCarren Park, meeting Greenpoint locals and doing a one on one question and answer with the general public in the that area of Brooklyn all through the afternoon of the 4th of July.

Reflecting on the McCarren park experience at a rooftop party in Williamsburg later that evening, Abbey said, "problem with our current crop of political leaders in New York City as well as the rest of America is, many either grew up within the political establishment or had embedded inside a political administration system that has shielded them from ever going out to hustle a dime on any one of many streets of New York City.

And after a period of time spent moving from one political post to another or time accumulated sitting on the same council seat, they somewhat develop a thick skin towards term-limit. As we all know of term-limit hating operators, the only one attribute they are most giddy to put to use at times like this, is being media savvy.

Take them out of that mindset, and they are not just short of civic remedies, they are just too far removed from the type of challenges faced by everyday Bob, Marybeth and Jane.

This in a way, makes the assumption that a full time career politicians would have developed excellent skills for good governance, farce and best at fault. Therefore relying on someone from such a system, to miraculously get New York City out of our current economic situation is almost impossible".

One thing to note here is, as an Independent candidate, Abbey is not a career professional politician, and being independent allows him, as he claims, "to follow the law, keep to ethics, and ignore partisan politics since the idea of kow-towing a party doctrine doesn't exist in his indie world". Therefore, he considers himself, "New Yorkers' best option for Mayor."

He goes on to say, "as of today, it is easy for anyone to say I'm going to fix the city. I'm going to take care of retirees and tackle homelessness. But that statement is useless if in reality you can't come up with a way to generate new stream of income to tackle these problems for the city. Personally, I think the best way out of this dire situation - facing our city and the rest of the country today, is to turn our almighty paper dollar or the digital sum we now have access to on our phones to a time limited legal tender with demurrage - that is, charge a fee for hoarding the dollar, and loose the money if not spent before the end of every quarterly cycle, before anything else.

Like it or not, it is the only way an Independent candidate like myself, could get money hoarders in the city to go dig up the loot they have buried in their backyard, stashed away under their bed, inside their mattress or tucked in pillows. Hidden cash is not doing anyone any good so long as it stays hidden. But if you save them, you are lending money to banks and you are helping to beat down interest rate and cost of living. If you spend, you are not only boosting consumption and economic activity, you are energizing local businesses in economically depressed areas of the city."

So what is a time limited cash and why is it needed now?

"Answer is simple", he replied as we keep scanning the panoramic Williamsburg skyscape for fireworks. "Time limited cash, check or digital money is a time restricted money that I would allow to be used as payments for goods, salaries, wages and services. It is time limited because as a legal tender, it has to be cashed, spent or invest in something tangible within a given period of time, otherwise it becomes worthless and unexchangeable once the time placed on it has passed.

Given the current state of New York City, I'd allow time limited cash to be used to service debt - mortgages, insurance, healthcare plan, tax or be exchanged for all kinds of goods and tangible assets. Time cap on the dollar will reduce the allure of the dollar, curb immigration a little bit, and bring back outmigrants - those high salary earners who left the city for other states during the pandemic, to their beloved city because interest rates will be down to down to its true value.

To stop this from fueling inflation, If elected Mayor, I will not to place a limit on spending, and neither will I raise an eyebrow about source of deposited stash into public welfare banks. So long as the federal reserve is not printing money, or making credits available to banks during this period, general price, level of services and goods will be stable. The city will be livable, affordable, sustainable and fun for all".

"And guess what!" He continues, "historical examples of time limited cash could be traced back to Edward I, King of England, who, almost 900 years ago, started taking stock of the treasury and minting new coins quarterly - as a way to beat those trying to debase the value of coins in his domain was the first English King in history to use time limited currency to revive the economic fate of his Kingdom.

The greenback in the United States, was for some time used this way - to beat the British who own the ports, cargo ships, warehouses but lost control of inland supply lines and inland waterways. That's how home grown American businesses started. They were the backbone of the country then and could still be today if we focus on bringing back New York City's productive identity. Note I said productive, not industrial".

At the end of the night, Abbey gives the impression of an ever creative administrator who would, as he says, "waste no time moving the whole country away from the influence of the Austrian or Chicago school of economics and replaced with what he called the Anglo-Protestant economic system or APES".

As a candidate, he is, without doubt, committed to a safe, secure and sustainable city - where living costs, rates and rent are lowered, and city's productive identity revived and energized by blockchain technology and cloud architectural capabilities.

He believes in public safety, favor the general well being of all New Yorkers. And promised to work to improve the living experience for retirees, students, city workers and low income families.

"I put New Yorkers first, and I plan to lead the city in a new direction by offering fresh, bold, reasonably green ideas. A vote for me is a vote for a better life"

Follow Abbey Laurel-Smith's campaign, donate if you can at https://www.rebuildnewyork.city

CONTACT:
Abbey S Laurel-Smith
mayor@rebuildnewyork.city
@smithieformayor @SmithiesNewYork

SOURCE: Abbey S Laurel-Smith