|
Post by rareearth on Jul 2, 2011 12:58:13 GMT 10
There are now over 1000 US dollars worth of Cyberterra dollars (CTD) in the UMMOA Treasury. It should be noted that Cyberterra dollars are not at all based on US currency. Over 1000 USD worth of Cyberterra dollars in UMMOA Treasuryummoa.biz
|
|
George
Global Administrator
Head Honcho and Spangle of the Cosmos
Posts: 2,997
|
Post by George on Jul 2, 2011 14:23:09 GMT 10
Where can they be spent?
|
|
|
Post by rareearth on Jul 3, 2011 0:08:18 GMT 10
Cyberterra dollars (CTD) are not meant to be spent, anymore than the old European Currency Unit or ECU was meant to be spent. Unlike US dollars, Cyberterra dollars are not liquid assets. Were Cyberterra dollars made up, even partially, of US dollars, they could be taxable by a foreign government, and does Australia tax US dollars in the US? No. Nor can the United States tax Cyberterra dollars in the UMMOA. Cyberterra dollars are probably the complete or partial backing of a future currency. On 1 January 1999, the Euro (EUR) replaced the ECU, at the value 1 Euro = 1 ECU. Probably something similar will happen in the future with Cyberterra dollars (CTD). I am not free to disclose any more details. As stated elsewhere: "The UMMOA Government will provide full disclosure and paper evidence of its minute national assets when the Federal Reserve System (the "Fed") is audited by Congress with full transparency and accountability, according to the requirements of the Federal Reserve Transparency Act of 2009."
|
|
Peter
Administrator
Posts: 219
|
Post by Peter on Jul 5, 2011 2:29:25 GMT 10
Per se, currency must be usable for exchange of value.
|
|
|
Post by rareearth on Jul 5, 2011 3:51:44 GMT 10
Per se, currency must be usable for exchange of value. In fact, the assets that back Cyberterra dollars (CTD) can be exchanged for US dollars, or products, or services of value. However, the moment you spend (or exchange for fiat currency) what is needed to back the currency itself, that is the moment the currency becomes valueless. That is the moment the currency becomes pure paper, and a fiat micronational or new currency can neither be imposed, nor can you encourage people to hold or use the currency if it has absolutely no intrinsic value. When a child is born, it too depends entirely on its parents, but the older it gets, the more autosufficient it becomes. You can't start any real currency unless you first crawl before you walk.
|
|