A way to stop bank robberies.

[RandomPoster]

Instead of the gold standard, every 100 dollars would be backed up by a ton of iron in a vault. Pure iron would be our currency. We would use electronic iron and with a credit card pay 200 tons of iron for a car. The point is that to rob a bank, bank robbers would need a giant fleet of slow moving trucks to transport the iron. Each semi could haul 4,000 dollars. In order to steal 10 million dollars, you would need to steal 100,000 tons of iron. You would need 2,500 semis and have to employ 2,500 drivers. That's 2,500 accomplices. That would be 2,500 fully loaded semis slowly driving on the freeway. Your get away time would be measured in days. Even if you snuck away to a secret location and managed to hide your stash, you would have to fence 100,000 tons of iron on the black market. It would make bank robberies impractical.

 

[Dekster]

My credit union wouldn't hand out cash at the location I went to. They wouldn't even make change. Everything went through a slot they could not access when you made any sort of deposit and it was picked up at the end of the day by armed guards.

 

[percysunshine]

And when I went to an ATM, it would spit out the rear bumper of a 1957 Chevy....

Hold on a second...

 

[RandomPoster]

There would be 2.6 billion tons of iron in Fort Knox.

 

[Dekster]

There would be 2.6 billion tons of iron in Fort Knox.

That's more than the Edmund Fitzgerald could carry

 

[RandomPoster]

If you want to keep your money safe, store your life savings in your home as pennies. Someone breaks into your house and they would have steal tons of pennies. If you had dollar bills, a fire could destroy them. Pennies would be much more resistant.

 

[Dekster]

If you want to keep your money safe, store your life savings in your home as pennies. Someone breaks into your house and they would have steal tons of pennies. If you had dollar bills, a fire could destroy them. Pennies would be much more resistant.

I probably have a ton of pennies because those are the only thing people won't swipe of bum. I hide my silver change. Sometimes I will throw a few nickels and a dime in there to throw them off the chase.

 

[Crepitus]

Instead of the gold standard, every 100 dollars would be backed up by a ton of iron in a vault. Pure iron would be our currency. We would use electronic iron and with a credit card pay 200 tons of iron for a car. The point is that to rob a bank, bank robbers would need a giant fleet of slow moving trucks to transport the iron. Each semi could haul 4,000 dollars. In order to steal 10 million dollars, you would need to steal 100,000 tons of iron. You would need 2,500 semis and have to employ 2,500 drivers. That's 2,500 accomplices. That would be 2,500 fully loaded semis slowly driving on the freeway. Your get away time would be measured in days. Even if you snuck away to a secret location and managed to hide your stash, you would have to fence 100,000 tons of iron on the black market. It would make bank robberies impractical.

You know our currency isn't backed by anything materiel right?

 

[RandomPoster]

Instead of the gold standard, every 100 dollars would be backed up by a ton of iron in a vault. Pure iron would be our currency. We would use electronic iron and with a credit card pay 200 tons of iron for a car. The point is that to rob a bank, bank robbers would need a giant fleet of slow moving trucks to transport the iron. Each semi could haul 4,000 dollars. In order to steal 10 million dollars, you would need to steal 100,000 tons of iron. You would need 2,500 semis and have to employ 2,500 drivers. That's 2,500 accomplices. That would be 2,500 fully loaded semis slowly driving on the freeway. Your get away time would be measured in days. Even if you snuck away to a secret location and managed to hide your stash, you would have to fence 100,000 tons of iron on the black market. It would make bank robberies impractical.

You know our currency isn't backed by anything materiel right?

Yes. Many people propose going back on the gold standard. I say go on the iron standard.

 

[Crepitus]

Instead of the gold standard, every 100 dollars would be backed up by a ton of iron in a vault. Pure iron would be our currency. We would use electronic iron and with a credit card pay 200 tons of iron for a car. The point is that to rob a bank, bank robbers would need a giant fleet of slow moving trucks to transport the iron. Each semi could haul 4,000 dollars. In order to steal 10 million dollars, you would need to steal 100,000 tons of iron. You would need 2,500 semis and have to employ 2,500 drivers. That's 2,500 accomplices. That would be 2,500 fully loaded semis slowly driving on the freeway. Your get away time would be measured in days. Even if you snuck away to a secret location and managed to hide your stash, you would have to fence 100,000 tons of iron on the black market. It would make bank robberies impractical.

You know our currency isn't backed by anything materiel right?

Yes. Many people propose going back on the gold standard. I say go on the iron standard.

Ok, why not. It's not any less workable than the gold standard.