this post was submitted on 28 Jan 2024
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[โ€“] agressivelyPassive@feddit.de 5 points 9 months ago (1 children)

Thing is, the entire monetary system is kind of a promise note, just a rather reliable and legally enforceable one.

Even something like a payment plan is essentially a promise note, credit cards too.

[โ€“] CodeName@infosec.pub 3 points 9 months ago

Yeah, but like you said all those things are backed and based on the US dollar. Company scrips have been illegal for decades. This guys idea of a promise note seems more like an IOU scribbled on a napkin.