A currency as a “negotiable instrument” only works because:
A. Everyone agrees that it does,
B. Because the controller of the currency has value with which to back the currency
B is less important these days with Fiat currency, but A is essential.
Unless you’re a country’s central bank, nothing you make as a “negotiable instrument” is going to be recognised as such - and even if it was, if you’ve no valuabke resource with which to back it up, it’s worthless, so nobody would want it.
I feel sorry for these people because I do get the sentiment behind it. They feel like they’re being screwed over and want a way to fight back - but if it were this easy, everybody would be doing it.
A currency as a “negotiable instrument” only works because:
A. Everyone agrees that it does,
B. Because the controller of the currency has value with which to back the currency
B is less important these days with Fiat currency, but A is essential.
Unless you’re a country’s central bank, nothing you make as a “negotiable instrument” is going to be recognised as such - and even if it was, if you’ve no valuabke resource with which to back it up, it’s worthless, so nobody would want it.
I feel sorry for these people because I do get the sentiment behind it. They feel like they’re being screwed over and want a way to fight back - but if it were this easy, everybody would be doing it.