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There are other approaches. For example, the government could declare that certain commodities could only be purchased with the currency. Oil, for instance (and
by erichocean 13y ago
There are other approaches. For example, the government could declare that certain commodities could only be purchased with the currency. Oil, for instance (and there's precedent there, too).
Personally, I think the government declaring that basic incomes will be paid in the currency is enough, but I see no reason to disallow other methods.
Another example is to do what the dollar says: this [currency] shall be legal tender for all debts, public and private.
Another one would be that banks could only accept that currency, and make loans in that currency.
There's a lot of options, but you're right: we'd need to get creative about it. As CS people, that's basically our job description and it's a good challenge, and I think, a solvable one.
Thanks for your comments, I do appreciate it. I certainly don't have all the answers.