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Post by polack on Jan 3, 2016 3:28:01 GMT
What currency should we use on the island?
New Currency: Most likely gold backed, localy printed currency would try and spread to other pacific country's and create an trade union.
Greenback: Very influential currency used by most of the world to be oil and by the most powerful country in the world the USA.
Bitcoin: would give some publicity and many international already use it
Euro: Used by the European Union a very powerful currency indeed
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Post by drdickmudslime on Jan 3, 2016 3:33:34 GMT
Local currency for local island things
Greenback for fuel, wood, and materials
Eventually Local Island Gold Standard currency.
We can keep all the gold buried somewhere secret on the island
Yarr
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Post by polack on Jan 3, 2016 3:39:54 GMT
Local currency for local island things Greenback for fuel, wood, and materials Eventually Local Island Gold Standard currency. We can keep all the gold buried somewhere secret on the island Yarr >buried somewhere I would keep it in a bank for it to be gold backed you would actually need to be able to redeem it with some local paper |
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prosciutto
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Country: Spain
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Post by prosciutto on Jan 3, 2016 3:41:52 GMT
We can easily mint silver coins, probably even easier than printing currency and virtually impossible to counterfeit.
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Post by polack on Jan 3, 2016 3:42:44 GMT
We can easily mint silver coins, probably even easier than printing currency and virtually impossible to counterfeit. sounds good just got to worry about pirates |
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prosciutto
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Country: Spain
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Post by prosciutto on Jan 3, 2016 3:54:32 GMT
This is how i would do it:
Mint silver coins
Since the silver gives it intrinsic value, people will accept it
After a while we start printing certificates, exchangable for silver coins at our "bank"
Since people now trust us, they accept our certificates
Thats how you create a currency
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polson
Junior Member
I desire a new land where we are free from the impending doom of the west. This could be it.
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Post by polson on Jan 3, 2016 4:24:38 GMT
Copper coins
You can get 5lbs of copper for about 45 USD
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Post by Mr. Heinrich Frey on Jan 3, 2016 9:59:14 GMT
Step away from theg gold standard, that's just too expensive. Minting silver coins is the way to go.
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tzar
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Post by tzar on Jan 3, 2016 10:07:20 GMT
Step away from theg gold standard, that's just too expensive. Minting silver coins is the way to go. That even seems too expensive, I think copper or brass. On the other hand we could have expensive coins (high face value) made out of something like graphite as a WOW factor of for coin collectors. I don't know of it being done before . |
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Post by Mr. Heinrich Frey on Jan 3, 2016 10:17:52 GMT
That even seems too expensive, I think copper or brass. On the other hand we could have expensive coins (high face value) made out of something like graphite as a WOW factor of for coin collectors. I don't know of it being done before . The price of copper fluctuates a lot, I'm not sure if it's fit to be used as a standard. |
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prosciutto
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Post by prosciutto on Jan 3, 2016 14:50:18 GMT
Step away from theg gold standard, that's just too expensive. Minting silver coins is the way to go. That even seems too expensive, I think copper or brass. On the other hand we could have expensive coins (high face value) made out of something like graphite as a WOW factor of for coin collectors. I don't know of it being done before . Silver isnt that expensive. 1 gram of silver costs 0,44 USD, and silver is easily mintable, even at home with a torch and a clay mold. the advantage is, even if the country isnt recognized, the money will have value due to the silver. Copper or brass are not that recognized as having value. would you rather get your salary in silver or copper? |
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tzar
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Age: 15
Country: WE WUZ EMPIIRE AND SHEET
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Post by tzar on Jan 3, 2016 15:16:45 GMT
That even seems too expensive, I think copper or brass. On the other hand we could have expensive coins (high face value) made out of something like graphite as a WOW factor of for coin collectors. I don't know of it being done before . Silver isnt that expensive. 1 gram of silver costs 0,44 USD, and silver is easily mintable, even at home with a torch and a clay mold. the advantage is, even if the country isnt recognized, the money will have value due to the silver. Copper or brass are not that recognized as having value. would you rather get your salary in silver or copper? What about larger currencies, like 50 usd equivalent. Would we use paper notes or a kind of solid token? |
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prosciutto
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Country: Spain
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Post by prosciutto on Jan 3, 2016 15:38:02 GMT
Silver isnt that expensive. 1 gram of silver costs 0,44 USD, and silver is easily mintable, even at home with a torch and a clay mold. the advantage is, even if the country isnt recognized, the money will have value due to the silver. Copper or brass are not that recognized as having value. would you rather get your salary in silver or copper? What about larger currencies, like 50 usd equivalent. Would we use paper notes or a kind of solid token? We can have paper notes convertible in silver, or mint gold coins (34 USD per gram) |
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Post by Theodore R. Bell on Jan 3, 2016 20:31:32 GMT
What we need to do is the one thing all other governments took a step away from, to found our new currency on an actual value instead of making it nothing but colored paper. I can only agree with all of the people before me arguing for a silver standard as our main standard. It's unlikely that the general people would disagree with owning actual silver, especially if they can pay for goods with it.
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Deleted
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Post by Deleted on Jan 3, 2016 22:00:37 GMT
What we need to do is the one thing all other governments took a step away from, to found our new currency on an actual value instead of making it nothing but colored paper. I can only agree with all of the people before me arguing for a silver standard as our main standard. It's unlikely that the general people would disagree with owning actual silver, especially if they can pay for goods with it. This sounds like a good idea. Thinking about it, why not just make silver itself the official currency? - Impossible to counterfeit - Holds value elsewhere - No need to make coins |
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