Just googled representative currency, and here's what I believe it is:

A currency that can be exchanged for a commodity like gold or silver to buy things.

...Right?

Deputy Regional Minister of the Planning and Development Agency(March 8-May 19, 2014)

Local Council Member(April 24-August 11)

Court Justice of TSP(August 15-December 7)

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"Change is the world's blood"
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Right. There is a physical backing of the currency.


Jasper Henn

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Then I prefer fiat money(that's what Im using right now, so). But a problem with fiat money is that you can print it as many times as you like, thus devaluating the currency(like Imperial Russia did in WWI to pay its soldiers). Representative currency can have the same effect, but one thing is that gold and silver is not a renewable resource, thus making the paper money part useless, while trade goes on.

And just searched why the Soviet Ruble was used. Apparently, it acted similar to food stamps.

Well played, Soviet Union. Well played.

Me right?

Deputy Regional Minister of the Planning and Development Agency(March 8-May 19, 2014)

Local Council Member(April 24-August 11)

Court Justice of TSP(August 15-December 7)

Quotes

"The 1% is like a 1% battery charge. It will die out if it is not charged(the charge is the 99%). But if you don't charge it, it will die for sure, sooner or later"
- Me (2001- Present)

"Change is the world's blood"
- Me (2001-Present)

[Image: 9ehfkQV.png]

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[warn=unofficial]Split, since this is not more about currency types than capitalism vs socialism.[/warn]

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Thanks Kris!

Deputy Regional Minister of the Planning and Development Agency(March 8-May 19, 2014)

Local Council Member(April 24-August 11)

Court Justice of TSP(August 15-December 7)

Quotes

"The 1% is like a 1% battery charge. It will die out if it is not charged(the charge is the 99%). But if you don't charge it, it will die for sure, sooner or later"
- Me (2001- Present)

"Change is the world's blood"
- Me (2001-Present)

[Image: 9ehfkQV.png]

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You must answer this first. What drives someone to go to work in 6 AM and go home at 7 PM? He is certainly not working for the benefit of the company, nor anything else. He works for a decent paycheck to feed himself and his family, to pay the bills.

The drive that make people work is money, with money, they can buy things for their family, or themselves.

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Apparently, the Kuwaiti Dinar is the most valuable currency in the world ($3.65 USD), even though the USD is involved in 85% of foreign exchange markets.

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Apparently, the Kuwaiti Dinar is the most valuable currency in the world ($3.65 USD), even though the USD is involved in 85% of foreign exchange markets.

That's a terrible metric to use though, because it assumes 1:1 is the normal ratio. Going by that logic the economy of Japan would be dirt poor at a $0.0083, while the Zimbabwe dollar must of been really strong at an exchange rate of quadrillions to one.

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I'd prefer to use representative currency, or at the very least coins worth approximately their value. However, I understand that precious metals are getting too rare or uncommon for this to actually happen, so I'm willing to accept other options. Bitcoin in particular shows promise.

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Bitcoin is unstable, or what I've heard, Its vunerable to hacking. If a digital currency is hacked, then all those people who use it are screwed.

Deputy Regional Minister of the Planning and Development Agency(March 8-May 19, 2014)

Local Council Member(April 24-August 11)

Court Justice of TSP(August 15-December 7)

Quotes

"The 1% is like a 1% battery charge. It will die out if it is not charged(the charge is the 99%). But if you don't charge it, it will die for sure, sooner or later"
- Me (2001- Present)

"Change is the world's blood"
- Me (2001-Present)

[Image: 9ehfkQV.png]

Reply