A Currency All My Own

I really enjoyed Scott’s introduction to different currency types.  It’s a great introduction to the differences between fiat currency, commodity currency, and representative currency. Coincidentally we have implemented a new representative currency in our household in an effort to teach our children about money and work. Personally I think that the commodity backing our currency is the safest commodity around except for it’s non-transferable nature and often short shelf-life. Our currency is backed by goodwill – although there is an exchange rate from U.S. dollars.

As for real world crisis scenarios, my personal philosophy is to do my best to maximize my production ability, build up my stores, minimize my vulnerability, and do what I can to maximize social stability by building up a strong and prepared community around me.