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---- 21-06-25, 21-06-17 Added Problem w Cryptos...., 21-06-27 rewrote title * Hows. Crypto Currencies DON'T Have a Guaranteed Verifiable INCOME Backing Them. They have no guaranteed buyer in any currency, gold, or silver at current Market prices. N1CL Wous do. Solving this problem is simple. Create "bearer bonds" with a guaranteed income from all WOU exchanges and income from all N1CL sources.. Anonymity is built-in to WOUs as the person or business accepting them for any good, NOW becomes the owner of the "encrypted token" representing the WOU. The identity of the seller is not needed nor kept by the List. The List never tracks what was exchanged. The new owner must publish the price in any currency or WOU units spent on the exchange. Receipts etc are only arranged between buyer and seller. Upon acceptance of a "WOU token" representing some number of WOUs or fraction thereof, by a seller, then has 7 days from acceptance to spend this "encrypted token". Or they automatically receive any accrued 5% of Stipulated Gross Revenues at their preferred recognized bank. Local taxes are their problem which is only then taxable. There only 10 million issued Wous which pay 5% of SGRs. The non issued do not pay SGRs. The List will within 7 days of receipt of an issued WOU will sell them. The NFCL pay 5% of Stipulated Gross Revenues(SGR) per year paid out on 1st of month, or to date when requested. It is accumulated daily at Midnight GMT, You pay no taxes when you Buy with your WOUs except those in the merchants sales price.. The merchant can now spend them within 7 days or take the accumulated 5% of SGRs. Since each numbered WOU's accumulated 5% is known, so is its price. In short, as long as the Quantity of WOUs in money. circulation is known, then everyone knows they are an Incorruptible Money with a precisely known instantly published Market Value. Closing the loop means the N1CL will always buy them back and then resell them for the going Market price. Once issued, WOUs will NOT be retired. Last edited by Dan on Mon Jun 28, 2021 3:36 am; edited 6 times in total All times are UTC |
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