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For some reason sovcit can't find the legislation for this fanciful idea. (lemmy.world)

submitted 5 months ago by BonesOfTheMoon@lemmy.world to c/insanepeoplefacebook@lemmy.world

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[-] agressivelyPassive@feddit.de 5 points 5 months ago

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.

[-] CodeName@infosec.pub 3 points 5 months ago

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.

this post was submitted on 28 Jan 2024

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