Of Benjamins and Biebs

Many Listener Blog Readers are familiar with Bronwyn C.’s longstanding fascination with numismaticism, especially the Ron Paul Dollar—the second most popular currency in the United States! But many don’t realize that the number one most popular currency, Federal Reserve notes, aren’t the only option. 

Briefly, the U.S. government does not issue money, the Federal Reserve Bank issues money, and the money is a “fiat currency,” which means it’s not backed by silver or gold, it’s backed by your delusional belief that it’s worth something. Section 411 of Title 12 of the United States Code provides that Federal Reserve notes “shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank”—but what is “lawful money”? Well, in this case, it’s debt. 

But you don’t have to use Federal Reserve notes if you don’t want to! You can use any of a number of alternative currencies, all of which are perfectly legal. If you’re in the Berkshires in Massachusetts, you can use the widely accepted local currency called BerkShares. Just look up “alternative currency” and you’ll find a lot of them, all perfectly legal—except, ha ha, the Ron Paul dollar, which was backed with actual precious metals and so the FBI raided the issuers’ office and everyone got indicted and now there has to be trial. 

NEVERTHELESS, in our quest to boldly violate the false dichotomy between jokes and serious shit, Thunk Tank is issuing Thunk Tank Notes just in time for the WFMU Marathon! Listeners will be able to exchange Federal Reserve notes for Thunk Tank notes 1:1. We intend to make the Bieb the second-most popular currency among WFMU Listeners, and we figure as long as we don’t issue coinage or claim to be legal tender, we probably won’t get indicted.  

 

Comments

[KingofthePaupers]

"Just look up “alternative currency” and you’ll find a lot of them, all perfectly legal—except, ha ha, the Ron Paul dollar, which was backed with actual precious metals and so the FBI raided the issuers’ office and everyone got indicted and now there has to be trial."
Jct: Ithaca Hours, Berkshire Berkshares, Pittsboro Plentys are all legal but the morons at Liberty Dollar made the Ron Paul Dollar look like real money which is the crime. I think that unnecessary offence was meant to give community dollars an air of illegality. It can work like real money as long as it does not look like real money,

"Thunk Tank is issuing Thunk Tank Notes.. Federal Reserve notes for Thunk Tank notes 1:1. We intend to make the Bieb the second-most popular currency among WFMU Listeners, and we figure as long as we don’t issue coinage or claim to be legal tender, we probably won’t get indicted.
Jct: Yes, right. But why do a weak sister community currency. Why not do both the Berkshares cash-buy-in poker chips and use the Ithaca Hours timebank poker chips. In 1999, under the UNILETS Time Standard of Money, I paid for 39/40 nights in Europe with a timebank IOU for a night back in Canada worth 5 Hours which I recorded on my public do-it-yourself timebank account: http://johnturmel.com/unilets.htm Your thunk timedollars could be spent at timebanks around the world too as long as you're willing to put foreigners up in your town too!

[rahrahrahrah]

PEET ZAH?

[Harry]

the United States Code provides that Federal Reserve notes “shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank”—but what is “lawful money”? Well, in this case, it’s debt.