I glanced at this Post, and immediately had visions of glory. I first contemplated the impact of a California script, but my Mind started doing Loops and Spirals after that. The distillate of the entire Thought pattern began to be a Horror Story. It is still very unclear and lacks real Thought, with a probable wealth of problems internal to it. The End-Goal, though, could be the eradication of nominal taxation. Everyone would applaud the Effort, even though they will likely deride the stupidity of the foresight. What would happen if all Government paid their bills in special script, which by law must be redeemed by jurisdictional stores at some stated rate of exchange with the value of the U.S. Dollar?
Hypothesis: The Law would force all Receivers of Government script to raise their Pricing to ensure that they were not bankrupted by the forced redemption of the Script. This forced increase in Prices would be its own form of taxation, where the Public would have to pay the higher Prices to underwrite and subscribe the Government Expenditures. There could even be multiple Scripts representing their Government entities–all with their own redemption values. Governments would be limited to purchases within their own jurisdiction, except for an adequate Script Trading Market on a national and World stage. The Scripts could be banked by law, said banks instructed to translate the Scripts into real Dollars for Deposit; the Script sent to the Federal Reserves for destruction. The Price increases in the economy would substitute for the current imposed Taxation, and though highly regressive, would be a real drag upon Government expenditures.
We would face the eventual demise of Taxation, along with the final demise of the National Debt. The Governments involved would by law be prevented of Debt financing; forced to issue Script at established redemption rates expected necessary for a proper taxation. This taxation could not be averted or delayed, and the pressure against the higher Prices would be directed at the genuine Generators of the higher prices–Legislators. I know there has to be something wrong with this idea, but it fascinates me! I await the derision which is sure to follow. lgl