Understanding Day-to-Day life in prison helps us learn how to better serve them with their reintegration process! PRISON CURRENCY 101

Sam Bankman-Fried is in prison using tangible items (fish) to pay for services, better treatment and likely protection. Ironically, these fish now hold more value than the crypto SBF was dealing within his company, especially because he is using them for survival. I constantly seek examples that illustrate the challenges faced by the majority of inmates released from prison when trying to reintegrate into society. 

Real-life instances make it evident for people to comprehend the magnitude of these struggles. It is important for society and the church to understand the small details of prison life to better understand how hard transition back into society can be for most inmates. The value of an individually packaged mackerel is a wonderful example.

Currency in prison was always interesting to me from the minute I was incarcerated. There is no actual cash in prison - inmates create their own currency. You could use this currency to pay for anything from food, to extra portions of your favorite meals, to cheesecakes, candy, services and of course all the illicit stuff too. 

The most common type I saw were mackerel packs, which cost $1 in commissary and had a value of one dollar on the compound. Equally as common is a book of 20 USPS stamps. There are of course several others but I will focus on these.  Fox Business recently wrote about this here.

There were two different versions of stamps within the prisons, unused books of stamps that you can purchase from the commissary to use for postage on letters to family. These are the exact same stamps you can purchase at any USPS postal office. Commissary limited the amount of USPS stamps that you can purchase which is why mackerels were much more common. 

The second type, known as compound books of stamps, offered a fascinating glimpse into the resourcefulness of inmates. These are crafted together by an inmate almost like an arts and craft project. They were made up of individual stamps and taped over so they were essentially laminated. They usually are worn down stamps, already used stamps, damaged and put back together, etc. 

To this day never understood why they had any value whatsoever, but they did on the compound which is Economics 101. Because inmates accepted them as having value, they maintained their value. Inmates would accept them as payment for services like haircuts, cleaning your cell, gambling, cooking you food and so on. They had value even though there was no tangible value, other than inside the prison walls. They were worth about 60% less than a real book of stamps from the USPS. Because of their poor condition they were “laminated” and could never be used for postage. It underscores the power of collective acceptance of value. 

The biggest risk with stamps, especially compound books of stamps is that when you were caught with them they would be confiscated and you could be punished. If you were caught with too many books of normal USPS stamps, they would take those as well. It is hard for the guards to confiscate mackerels mainly because it was food - however, sometimes they did if you had an excessive amount. Inmates use the currency not just for services, but also for all the illicit activities like drugs, alcohol, cell phones and prostitution. 

The reality is that all of the currencies used in prison have actual cash value. When it came down to it, and people had an excessive amount of currency they would want to get rid of it for real money put on their books. A book is a term for your prison bank account. This means that they would approach inmates and offer to sell $100 worth of mackerel for $60 placed on their books. Someone could then have their family send money to that person’s books and they would receive $100 worth of currency at a 60% reduction. 

The prevailing motivation behind many individuals opting to convert their prison currency into real money was rooted in the widespread fear of theft and arbitrary confiscation. The constant threat of personal belongings being stolen or confiscated by guards is a stark reality within the prison environment. This inescapable uncertainty compels inmates to seek alternative means to safeguard their resources. 

It was also not uncommon for inmates to request for people to transfer money directly to their loved ones on the outside instead of their books. There were several reasons to do this. For some it was their way of trying to support their family and I knew some guys that were able to send hundreds of dollars a month to help support their loved ones. Others would simply not want too much money on their books because it could be confiscated for court fines, restitution etc. 

I could literally type another 20 pages about the currency inside prison but I believe everything mentioned gives you a general idea. Most importantly, how does this translate into reintegration back into society? 

This provides a great example of how inmates have to adjust from a society that has a distinct set of rules into a society they are being released into which has a much different set of rules. This alone is something for society to understand – it is not a minor adjustment for someone to come from prison into society. Currency is just one of hundreds of daily things faced that are different on the inside compared to the outside. 

Beacons of Hope that can be provided as examples for the recently released. 

1. Resourcefulness and Entrepreneurship: In prison, inmates demonstrate resourcefulness by creating their own currency and engaging in entrepreneurial activities such as selling services like haircuts, cleaning cells, and cooking. These skills can be translated into positive, legal activities upon reentry into society. Inmates can learn that the same resourcefulness and entrepreneurial spirit they used in prison can be applied to lawful endeavors, such as starting a small business, pursuing vocational training and finding/maintaining employment. 
2. Financial Literacy and Planning: The practice of inmates exchanging their prison currency for real money placed on their books reflects a form of financial planning within the constraints of prison life. Inmates can apply this      understanding of currency and value to develop financial literacy skills.      Learning how to manage finances, budget effectively, and save money are      crucial aspects of successful reentry into society. Inmates can seek financial education programs to enhance their understanding of these principles which we provide while they are still incarcerated and upon release.    
3. Supporting Family Responsibly: The mention of inmates sending money to their families showcases a sense of responsibility and commitment to supporting loved ones. While the means may have been unconventional in prison, the underlying intention of providing for family needs is commendable. Inmates can learn that upon reentry, they can channel this sense of responsibility into legal and stable means of supporting their families. Seeking employment, acquiring skills, and maintaining financial stability are essential for providing consistent and responsible support to loved ones.