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One enterprising Russian farmer has a currency backed by potatoes

Jul 2, 2015, 22:58 IST

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

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"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 labor 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.

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He reportedly plans to appeal the ruling.

Check out the whole story at The Moscow Times.

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