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How would you liquidate a currency backed by land titles and gold?
Posted on 10/16/20 at 11:41 am
Posted on 10/16/20 at 11:41 am
An interesting proposition is on my desk. I cannot give too many specifics here, as TD threads populate on search engines.
The currency is indeed backed by the aforementioned assets; however, currency is not my expertise and I am unsure on how to liquidate or exchange tender of this kind. Any thoughts? I know it's rather vague, but I appreciate all helpful responses.
The currency is indeed backed by the aforementioned assets; however, currency is not my expertise and I am unsure on how to liquidate or exchange tender of this kind. Any thoughts? I know it's rather vague, but I appreciate all helpful responses.
Posted on 10/16/20 at 12:18 pm to oleusakid
Liquidate the land and gold.
Posted on 10/16/20 at 12:24 pm to oleusakid
I don't know but it sounds cool
Posted on 10/16/20 at 5:32 pm to oleusakid
I believe you would have to go to the government who owns said currency (specifically their Treasury) to discuss liquidation. The gold wouldn’t be too difficult, but I have a hard time seeing how you can come to an agreement as to what land is worth without visiting the site(s) in question. There’s also the risk (depending on which government this is) as to whether land ownership will be respected in the future.
Long story short I probably wouldn’t want land unless the government had a sterling track record and lots of future projected stability. Land is only yours if you can keep someone else from taking it. Gold would be much less risky in that regard.
Long story short I probably wouldn’t want land unless the government had a sterling track record and lots of future projected stability. Land is only yours if you can keep someone else from taking it. Gold would be much less risky in that regard.
Posted on 10/16/20 at 10:03 pm to oleusakid
Are you a Nigerian prince that needs my bank account info to route the money through?? This sounds like total BS to me.
Posted on 10/17/20 at 7:43 am to oleusakid
What kind of currency is this? Quick search turns up no national currencies land/gold backed. I learned land based currency was a thing during French revolution. That ended poorly of course and the currency was worthless.
Posted on 10/17/20 at 1:25 pm to oleusakid
You’re supposed to put the Monopoly money back in the box after you finish playing, baw
Posted on 10/19/20 at 8:18 am to oleusakid
If you are having trouble establishing an exchange rate with a known and established currency (like the dollar or Euro, or even something like bitcoin), and you’re unsure of how you’d use it to buy goods or services that could then be flipped into some other currency, it sounds like you’re looking at a pig in a poke, as us country folks used to say.
Good luck with it though.
Good luck with it though.
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