Independent currencies and a UBI.

Oct 25, 2012
3,775
614
Louisville, Ky
#21
If mermaid Unicorns bred with reptilian aliens they might create a new underwater snake race that develops perpetual motion and sends the excess energy to humans in exchange for sea cucumber sandwiches.
 
Jul 26, 2009
5,666
406
Opa Locka
#22
If mermaid Unicorns bred with reptilian aliens they might create a new underwater snake race that develops perpetual motion and sends the excess energy to humans in exchange for sea cucumber sandwiches.
So if you ran a small business that paid in USDs but your state had a currency with twice the buying power, you wouldn't go to a (free) state run currency exchange to turn your USDs into the state currency to put more money in your account? You don't expect, as this currency becomes more widespread by this effect, that your customers would start paying you in this currency to get what you were selling for a lower price? Even when things eventually balanced out, your state currency would be worth just as much as a USD and not subject to the machinations of the Fed and be somewhat insulated from economic downturns.

All the while, the people of your state get a low tax burden UBI reducing if not eliminating poverty, your state government gets to save money as it reduces welfare spending to match the UBI and the state is better able to handle the steady automation of the economy.
 
Oct 25, 2012
3,775
614
Louisville, Ky
#23
So if you ran a small business that paid in USDs but your state had a currency with twice the buying power, you wouldn't go to a (free) state run currency exchange to turn your USDs into the state currency to put more money in your account? You don't expect, as this currency becomes more widespread by this effect, that your customers would start paying you in this currency to get what you were selling for a lower price? Even when things eventually balanced out, your state currency would be worth just as much as a USD and not subject to the machinations of the Fed and be somewhat insulated from economic downturns.

All the while, the people of your state get a low tax burden UBI reducing if not eliminating poverty, your state government gets to save money as it reduces welfare spending to match the UBI and the state is better able to handle the steady automation of the economy.
If my employees wanted it, sure I would. However if I started the company and told people they will be paid in money they cannot use...I would have no employees or company.
 
Likes: 1 person
Jul 26, 2009
5,666
406
Opa Locka
#24
If my employees wanted it, sure I would. However if I started the company and told people they will be paid in money they cannot use...I would have no employees or company.
Why wouldn't they be able to use it? It'd legal tender.
 
Jul 26, 2009
5,666
406
Opa Locka
#26
Unless they need something from out of state....like pretty much everyone in the world.
Then they use USDs. This would be for internal economic use, not interstate or international and the bank would offer free currency exchange to USD.
 
Oct 25, 2012
3,775
614
Louisville, Ky
#27
Then they use USDs. This would be for internal economic use, not interstate or international and the bank would offer free currency exchange to USD.
Okay....then why bother spending the time, effort, and money to create a thing to duplicate something already in place and working well?

Especially considering how inconvenient it is in comparison.
 
Jul 26, 2009
5,666
406
Opa Locka
#28
As I said, the intent is to finance a UBI with a limited tax burden. The wider economic use is simply the justification for the currency and is only a secondary purpose.
 
Oct 25, 2012
3,775
614
Louisville, Ky
#29
As I said, the intent is to finance a UBI with a limited tax burden. The wider economic use is simply the justification for the currency and is only a secondary purpose.
I see....so raise taxes to finance something of limited use to the population. How many individuals do you imagine would be using the new currency and for what percentage of their transactions? Divide this number by the entire population and note the disparity.

Now figure out how much they must pay to institute it and how you intend to convince them a new tax is a good idea.