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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 by oleusakid
Member since Sep 2020
1069 posts
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.
Posted by iAmBatman
The Batcave
Member since Mar 2011
12382 posts
Posted on 10/16/20 at 12:18 pm to
Liquidate the land and gold.
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11113 posts
Posted on 10/16/20 at 12:24 pm to
I don't know but it sounds cool
Posted by C
Houston
Member since Dec 2007
27824 posts
Posted on 10/16/20 at 12:43 pm to
Like a stock?
Posted by oleusakid
Member since Sep 2020
1069 posts
Posted on 10/16/20 at 12:57 pm to
It is similar to a stock in that it has value that can be traded, but better than many stocks because it is gold and land backed.

My goal is to liquidate it for full value. If you're an expert, I can email you more specifics.
Posted by oleusakid
Member since Sep 2020
1069 posts
Posted on 10/16/20 at 12:58 pm to
quote:

I don't know but it sounds cool


Could be really cool if we can get it to work!
Posted by oleusakid
Member since Sep 2020
1069 posts
Posted on 10/16/20 at 1:48 pm to
It's backed by land and gold. They are not collateral.
Posted by iAmBatman
The Batcave
Member since Mar 2011
12382 posts
Posted on 10/16/20 at 4:34 pm to
Sounds fishy...not interested. If I wanted “currency” backed by land and gold, I’d just buy land or gold. What’s the need for the middle man?
Posted by Decisions
Member since Mar 2015
1478 posts
Posted on 10/16/20 at 5:32 pm to
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.
Posted by oleusakid
Member since Sep 2020
1069 posts
Posted on 10/16/20 at 8:42 pm to
Yeah, that's what I said. If I told you who the currency is from and how it happened years ago, you'd have a different response. Thanks though.
Posted by oleusakid
Member since Sep 2020
1069 posts
Posted on 10/16/20 at 8:43 pm to
Yes, this is on target with how I am pursuing. Thanks for the thoughtful response and confirmation. I will share the update.
Posted by jfw3535
South of Bunkie
Member since Mar 2008
4663 posts
Posted on 10/16/20 at 10:03 pm to
Are you a Nigerian prince that needs my bank account info to route the money through?? This sounds like total BS to me.
Posted by TorchtheFlyingTiger
1st coast
Member since Jan 2008
2132 posts
Posted on 10/17/20 at 7:43 am to
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 by iAmBatman
The Batcave
Member since Mar 2011
12382 posts
Posted on 10/17/20 at 8:01 am to
Because it isn’t a nations currency, hence the sketchy nature of this guys posts.

Unless he can prove some legitimacy, this thing is a 100% scam.
Posted by Captain Crackysack
Member since Oct 2017
2231 posts
Posted on 10/17/20 at 1:25 pm to
You’re supposed to put the Monopoly money back in the box after you finish playing, baw
Posted by Jag_Warrior
Virginia
Member since May 2015
4106 posts
Posted on 10/19/20 at 8:18 am to
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.
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