BonesOfTheMoon@lemmy.worldM to InsanePeopleFacebook@lemmy.world · 5 months agoFor some reason sovcit can't find the legislation for this fanciful idea.lemmy.worldimagemessage-square34fedilinkarrow-up1239arrow-down14
arrow-up1235arrow-down1imageFor some reason sovcit can't find the legislation for this fanciful idea.lemmy.worldBonesOfTheMoon@lemmy.worldM to InsanePeopleFacebook@lemmy.world · 5 months agomessage-square34fedilink
minus-squareAggressivelyPassive@feddit.delinkfedilinkarrow-up5·5 months agoThing is, the entire monetary system is kind of a promise note, just a rather reliable and legally enforceable one. Even something like a payment plan is essentially a promise note, credit cards too.
minus-squareCodeName@infosec.publinkfedilinkarrow-up3·5 months agoYeah, but like you said all those things are backed and based on the US dollar. Company scrips have been illegal for decades. This guys idea of a promise note seems more like an IOU scribbled on a napkin.
Thing is, the entire monetary system is kind of a promise note, just a rather reliable and legally enforceable one.
Even something like a payment plan is essentially a promise note, credit cards too.
Yeah, but like you said all those things are backed and based on the US dollar. Company scrips have been illegal for decades. This guys idea of a promise note seems more like an IOU scribbled on a napkin.