Goldbacks... taking a local currency to a whole new level!

DennisTate · Jun 2, 2023

In my opinion....
these "Goldbacks" have a great deal of potential....
especially with a "Biden Digital Currency" being talked about.

These goldbacks appealing to collectors....
is actually rather brilliant and seems to take the Worgl Austria Local Money Experiment to a whole new level.

https://www.govmint.com/gold/goldba...15lR7-Flkn5-OGhzSnxLmOImwTraiXJxoCF-IQAvD_BwE

Goldbacks are a form of voluntary local currency whose intricate designs are crafted from 24-karat gold. In a variety of stunning designs from Utah, Nevada, and New Hampshire, each Goldback has a specific, labeled gold weight, and is considered to be the first voluntary, local currency that can double down as a collector’s item, making them a unique fractional gold addition to any collection.
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Is this like what was done after the Worgl Austria Local Money Experiment was introduced to the United States... or is this entirely different?????

In a way... this seems to be very different to me and the potential seems to be huge.

DennisTate · Jun 2, 2023

This development reminds me of a suggestion that I made nine years ago....

Could a Utah State Dollar save the USA Dollar?

DennisTate said: ↑

Have you seen any of the following films:

1. The Future of Food
2. Food Inc
3. The World According to Monsanto.

If so..... then you know that the USA dollar to some degree is linked to and backed up by a plan to control the world's production of food in such a way that could eventually produce global famine.

"George Soros says that America must give up the dollar and accept world currency."
http://www.examiner.com/article/geo...aggregation&fb_aggregation_id=288381481237582

Back in 1994 I found out that President Lincoln had saved American taxpayers four billion dollars in interest payments and since that time I have been wondering what alternative was available to improve monetary policy that would not scare the investors on Wall Street.

A Utah State Dollar could perhaps be the answer!????!!!
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My suggestion was based on the Worgl Austria Local Money Experiment and how successfully it was applied in the United States which.....
... in a way seemed to force F.D.R. into THE NEW DEAL!

http://www.whatcomwatch.org/php/WW_open.php?id=717

City in Austria Printed Local Currency
Worgl, like many other European towns and cities, was hit hard by the Great Depression. There was mass unemployment; four of the five local factories had closed, and the people were starving in the streets. Nobody had any money to buy anything. One of the features of an economic depression is that there is not enough money in circulation to ensure that people can meet their basic needs, and in the 1930s, the shortage of currency in many countries of the world became catastrophic.

The mayor of Worgl, together with local businessmen, decided to try to break this economic impasse by creating their own local currency. They printed and issued 60,000 Austrian shillings worth of local currency. These shillings could only be spent in Worgl, so they remained in the local community and were exchanged over and over again.

The positive impact was immediate and surprising to everyone. In only six weeks, unemployment disappeared, all the factories had reopened and everyone had food. For the inhabitants of Worgl, the economic depression was gone. This dramatic transformation became known as the “miracle of Worgl.” Surrounding towns, inspired by the success of Worgl, immediately started printing their own local currencies.

Sadly, the miracle did not last long. When the Austrian Central Bank heard about Worgl’s local currency, they initiated legal proceedings against the mayor and local businessmen. According to Austrian banking law, it was illegal for anyone except the Austrian Central Bank to issue money. The bank won the court case, and the mayor was ordered to shut down the local currency, which he did, under threat of imprisonment. The town then returned to the devastating economic depression of the 1930s, with all the human pain and suffering associated with this catastrophe. Factories closed, and once again, the people starved.

Alternative Currency in the U.S.
Irving Fisher, an American professor of economics at Yale University, visited Worgl before the local currency was suppressed and witnessed the ‘miracle’ firsthand. When he returned to the United States, Fisher spread the word by traveling and lecturing across the country, advocating the use of the Worgl ‘scrip’ everywhere. Inspired by his vision, hundreds of communities began issuing their own currency, and by 1934 there were over 1,000 local communities using ‘scrip’ throughout the U.S.

Every one of these communities experienced a tremendous rejuvenation of their local economies. They thrived while others suffered. Fisher then met with President Franklin D. Roosevelt, proposing the implementation of government-sanctioned local ‘scrip’ in every community in America. When FDR consulted with his top financial advisors and bankers, however, he was advised to shut all the ‘scrip’ systems down, which he did. Instead, he borrowed large amounts of money from bankers, at interest, and used it to pay for the Reconstruction Finance Corporation and the other work-creation projects, which collectively came to be known as the ‘New Deal.’ So ended the last widespread use of a local currency within the U.S.

This pattern of economic collapse and re-emergence of local currencies has occurred thousands of times in many parts of the world. When these currencies have failed or have been suppressed, banks have not always been to blame. Sometimes, local currencies fail because they have been badly designed or implemented. Sometimes, people lose interest in them when the mainstream economy recovers. But they have always returned in one form or another during times of economic failure.

Our present world situation is uniquely different. Despite a relatively prosperous and stable world economy, a quiet monetary revolution has been occurring around the globe over the last 20 years. Awareness is growing about the flaws in our current monetary system, and people are re-creating viable alternatives. We are witnessing for the first time the worldwide creation of money systems designed by the people who use them, instead of by central banks.

Time Dollars in Whatcom County
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DennisTate · Jun 5, 2023

Wow..... on the note of the topic of a Utah, Nevada and New Hampshire Goldback alternative currency note......

I have an intriguing suggestion for all of the eighty seven or so candidates for Mayor in the City of Toronto during their 2023 Mayoral by election.......

... A TORONTO SILVERBACK CURRENCY NOTE IN DENOMINATIONS OF FIVE, TEN, TWENTY AND FIFTY DOLLAR NOTES.....

because demand for SILVER is higher than demand for gold due to the use of SILVER in laser technology........
so a TORONTO SILVERBACK SHOULD INCREASE IN VALUE EVEN MORE RAPIDLY THAN A GOLDBACK ALTERNATIVE CURRENCY NOTE!!!!!

An audacious gambit would be to combine the creation of this alternative currency note with an offer to BUY THE C.B.C..... and replace the leadership of the Canadian Broadcasting Corporation for
a huge number...... PERHAPS EVEN FOR THE VALUE OF THE NATIONAL DEBT OF CANDADA......
which I believe is significantly a practical joke being played on thirty eight million Canadians!

To what degree is the national debt of Canada a practical joke?

http://www.politicalforum.com/index...nada-a-practical-joke.608127/#post-1074023799

DennisTate said: ↑

I believe that the national debt of Canada is significantly a practical joke being played on nearly thirty eight million Canadians who do not know their right hand from their left when it comes to economics.

I also believe that Canada's political right is nearly as guilty as our political left is when it comes to reading a script that is given to political leaders from some extremely intelligent people who lean toward the economic philosophy of Neo-Malthusianism.

Based on this other poll it seems obvious that I am not the only poster to political forum who has arrived at this general conclusion.

?
Is the world economy being deliberately dampened, perhaps to save the environment?

*
Yes
3 vote(s)
75.0%

No
0 vote(s)
0.0%

Maybe?????
1 vote(s)
25.0%

Change Your Vote

As evidence for my theory I will give you some information on the brilliant Bank of Canada policy that was applied her from 1938 to 1974.

(Ms. Betty Krawczyk ) .... "The Bank of Canada was first established by Prime Minister Richard Bennet in 1935 as a private central bank, but was then nationalized by William Lyon Mackenzie King in 1938. By nationalizing the bank, Mackenzie King meant for it to belong to the people so the Canadian government could borrow funds with little or no interest for capital expenditures. The mandate of the newly nationalized Bank of Canada was to act as the banker to the government and to manage the public debt. As Mackenzie King famously said: “Once a nation parts with the control of their currency and credit, it matters not who makes that nation’s laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most sacred responsibility, all talk of sovereignty of parliament and of democracy is idle and futile.”

So the Bank of Canada was nationalized in 1938 and the government could now borrow money with little or no interest. And it worked. The Canadian government built freeways, public transportation systems, subway line, airports, the St. Lawrence Seaway and funded a national health care system and the Canada Pension Plan. But then Trudeau, under the influence of the international financial group called Basel’s
Committee’s Recommendations (The Basel Committee on Banking Supervision) made the decision to halt the borrowing of money from the Bank of Canada, and instead, chose to borrow from the private banks who instead of lending to the government at no interest, or low interest, introduced higher interest rates along with compound interest.

All banks know very well the magic of compound interest. And Pierre Trudeau must have known that the mounting compounded national debt would lead to Canadians eventually owing a dollar fifty for every dollar of their disposable incomes. After all, he studied economics at the London School of Economics. Surely the professors there knew about compound interest.

So Pierre Trudeau, instead of feeling blessed that Canada, unlike the US, had a nationalized central bank, signed our bank away to the private banks. Couldn’t Trudeau, such an educated man, surmise that citizens in a few years would be struggling to make car payments and meet rent and mortgages and student loans and to buy healthy food while last year’s profits for the big five (that’s Royal Bank, TD Bank, Scotiabank, Bank of Montreal and CIBC amounted to $31.7 billion?) If he did, he didn’t care. But it doesn’t have to be this way. It really doesn’t. Our Bank of
Canada is still there. Next time." (Ms. Betty Krawczyk)

https://bettysearlyedition.blogspot.com/2015/07/how-pierre-trudeau-turned-us-into-debt.html
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DennisTate said: ↑

I could be wrong....
I often am but I strongly suspect that Prime Minister Pierre E. Trudeau back in 1974 made one of the most colossal errors made in the last fifty years by a sitting Prime Minister of Canada in order to make it possible to pull off something of a joke on an American population.........

... who would have noticed the difference if the brilliant Bank of Canada policy of 1938 to 1974 had been continued for another decade or two.

This surge in the national debt here in Canada was needed to pull off......

Both images can be viewed along with this article.

The Public-Debt Problem
Written by Alain Pilote on Monday, 30 June 1986. Posted in In This Age of Plenty (book)

In this age of plenty - Chapter 34
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If an offer was put forward to purchase the C.B.C. for the price of the national debt of Canada THEN the Canadian federal government could, in theory, be wrestled out of what sure looks like their plan to destroy the Toronto Real Estate Industry!

Do Biden's advisors and Trudeau's advisors seem to want to crash the markets?

DennisTate said: ↑

Printing a lot of extra money will not of and by itself produce hyper-inflation.....

you also need to DECREASE PRODUCTIVITY......

paying people more who do nothing......and hammering away at the twenty percent of the population who do eighty percent of the most valuable work with higher and higher and higher levels of taxation.......
is a good way to set the stage for hyper-inflation......
and both Biden as well as Trudeau have been doing that for these past two years.
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IF THIS PROPOSAL WERE TO BE ADOPTED BY THE NEW ADMINISTRATION OF THE CITY GOVERNMENT OF TORONTO I DO BELIEVE THAT WHISTLEBLOWERS WOULD COME FORWARD who would testify that they were threatened with being fired if they reported how nasty the real negative side effects of the Covid 19 vaccine really were!!!!

By "whistleblowers" I mean CBC reporters who were forced to withhold life and death information from Canadians during these past four years!!!!!!

DennisTate · Jun 19, 2023

Ten states have been discussing this sort of option for many years now and yes.... gold or silver coins.... or even notes..... are being used.

https://money.cnn.com/2012/01/17/pf/local_currency/index.htm?iid=F_Jump

Local currencies: 'In the U.S. we don't trust'
By Blake Ellis @CNNMoney January 27, 2012: 11:13 AM ET

NEW YORK (CNNMoney) -- It may seem like Monopoly money to outsiders, but a growing number of communities across the U.S. are using homegrown local currencies to stimulate their economies and protect themselves from the nation's broader economic woes.

While there were only about 20 active community currencies in the United States in 2009, there has been a recent resurgence, with at least a dozen communities developing their own currencies in the past couple of years, estimates Loren Gatch, a professor of political science at the University of Central Oklahoma who researches these alternative currencies. In addition, currencies that have been around for years have seen a spike in interest, with membership doubling in some cases.

"Economic instability is on peoples' minds," said Gatch.

Now, even state governments are exploring the option. Lawmakers in more than 10 states, including Virginia, Georgia, South Carolina, Idaho and Tennessee, have been circulating proposals to introduce alternative currencies -- many of which would be issued in the form of gold or silver coins.

The Constitution prohibits individual states from printing and issuing paper money as legal tender, but they are allowed to use coins as currency, said Gatch. Individual communities, however, are able to create their own currencies -- including paper notes. Anyone can do it -- as long as the money is easily distinguishable from U.S. dollars and values are tied to the U.S. dollar so that income remains taxable.

Fear factor: Francis Ayley, the founder of Life Dollars, a currency started in Bellingham, Wash., in 2004, said fear of a shortage of U.S. dollars and frustration with the growing wealth gap in the country are driving more people to his currency. Since a majority of the transactions occur online and funds are directly transferred between members, the supply of Life Dollars is unlimited, he said.

The number of people or businesses signed up to use the currency, or members as Ayley refers to them, had remained relatively stable at 250 to 350 for years. But in the past two years, membership has doubled to more than 700. The currency's use has expanded beyond Bellingham to Seattle, too, where 75 new members have signed on in the past six months. Ayley estimates that more than $1 million worth of transactions have been made so far.

Funny money? 11 local currencies
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Steady Pie · Jun 19, 2023

DennisTate said: ↑

Ten states have been discussing this sort of option for many years now and yes.... gold or silver coins.... or even notes..... are being used.

https://money.cnn.com/2012/01/17/pf/local_currency/index.htm?iid=F_Jump
Click to expand...

If fiat is legal tender which businesses are forced to accept, wouldn't Gresham's law make sound money pretty useless for currency purposes? Bad money forces out good money. People horde good money rather than circulate it, which wouldn't be a problem if businesses could refuse fiat, but they cannot.

DennisTate · Jun 21, 2023

Steady Pie said: ↑

If fiat is legal tender which businesses are forced to accept, wouldn't Gresham's law make sound money pretty useless for currency purposes? Bad money forces out good money. People horde good money rather than circulate it, which wouldn't be a problem if businesses could refuse fiat, but they cannot.
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Brilliantly stated.....
I assume that fear over that sort of thing happening was EXACTLY why President F. D. R.'s advisors in BigBanking........
urged him to close down the one thousand or so local currencies that sprang up due to the work of Economist Irving Fisher Ph .d. during the Great Depression!!!

The Worgl Austria Great Depression Experiment and a real estate boom in rural America?

http://www.whatcomwatch.org/php/WW_open.php?id=717

City in Austria Printed Local Currency
Worgl, like many other European towns and cities, was hit hard by the Great Depression. There was mass unemployment; four of the five local factories had closed, and the people were starving in the streets. Nobody had any money to buy anything. One of the features of an economic depression is that there is not enough money in circulation to ensure that people can meet their basic needs, and in the 1930s, the shortage of currency in many countries of the world became catastrophic.

The mayor of Worgl, together with local businessmen, decided to try to break this economic impasse by creating their own local currency. They printed and issued 60,000 Austrian shillings worth of local currency. These shillings could only be spent in Worgl, so they remained in the local community and were exchanged over and over again.

The positive impact was immediate and surprising to everyone. In only six weeks, unemployment disappeared, all the factories had reopened and everyone had food. For the inhabitants of Worgl, the economic depression was gone. This dramatic transformation became known as the “miracle of Worgl.” Surrounding towns, inspired by the success of Worgl, immediately started printing their own local currencies.

Sadly, the miracle did not last long. When the Austrian Central Bank heard about Worgl’s local currency, they initiated legal proceedings against the mayor and local businessmen. According to Austrian banking law, it was illegal for anyone except the Austrian Central Bank to issue money. The bank won the court case, and the mayor was ordered to shut down the local currency, which he did, under threat of imprisonment. The town then returned to the devastating economic depression of the 1930s, with all the human pain and suffering associated with this catastrophe. Factories closed, and once again, the people starved.

Alternative Currency in the U.S.
Irving Fisher, an American professor of economics at Yale University, visited Worgl before the local currency was suppressed and witnessed the ‘miracle’ firsthand. When he returned to the United States, Fisher spread the word by traveling and lecturing across the country, advocating the use of the Worgl ‘scrip’ everywhere. Inspired by his vision, hundreds of communities began issuing their own currency, and by 1934 there were over 1,000 local communities using ‘scrip’ throughout the U.S.

Every one of these communities experienced a tremendous rejuvenation of their local economies. They thrived while others suffered. Fisher then met with President Franklin D. Roosevelt, proposing the implementation of government-sanctioned local ‘scrip’ in every community in America. When FDR consulted with his top financial advisors and bankers, however, he was advised to shut all the ‘scrip’ systems down, which he did. Instead, he borrowed large amounts of money from bankers, at interest, and used it to pay for the Reconstruction Finance Corporation and the other work-creation projects, which collectively came to be known as the ‘New Deal.’ So ended the last widespread use of a local currency within the U.S.

This pattern of economic collapse and re-emergence of local currencies has occurred thousands of times in many parts of the world. When these currencies have failed or have been suppressed, banks have not always been to blame. Sometimes, local currencies fail because they have been badly designed or implemented. Sometimes, people lose interest in them when the mainstream economy recovers. But they have always returned in one form or another during times of economic failure.

Our present world situation is uniquely different. Despite a relatively prosperous and stable world economy, a quiet monetary revolution has been occurring around the globe over the last 20 years. Awareness is growing about the flaws in our current monetary system, and people are re-creating viable alternatives. We are witnessing for the first time the worldwide creation of money systems designed by the people who use them, instead of by central banks.

Time Dollars in Whatcom County

Click to expand...

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Goldbacks... taking a local currency to a whole new level!

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