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To: muawiyah

“The simplest method is to issue a currency backed by assets”

So we merely give all the remaining assets of the country to favored entitlement recipients. Yes, that seems simple enough.


59 posted on 12/08/2012 6:52:04 AM PST by RFEngineer
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To: RFEngineer
No, you issue currency that's backed by the value of the assets. Presumably someone could collect enough OFFSHORE OIL WELL bills to take them to the Treasury and demand specie!

Historically the various currencies baced by silver or gold varied in value, so you'd need conversion tables to figure out what you had.

People were dealing with this back in the time when there were no computers!!!! Today you have telephones that cash checks!

61 posted on 12/08/2012 6:57:06 AM PST by muawiyah
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