Hypothetically you would need to alter the Currency Act (i.e., see sections 9 and 22): These restrictions were pretty much the same from 1909-1963 under the Coinage Act. http://www.exfacie.com/?q=review_of_coinage_act_1909-1947
Come to Hobart & tend to my property mowing & vegie patch etc.............. Will supply tent & outhouse. Any takers?
I definitely wouldnt put it past them, though hopefully I never have to see a dole form first hand! If declarations about working for pm's ever make it onto a dole form though I would say we are well and truly in phase 3 Yardwork sounded interesting Boneyard... until you mentioned Hobart
I wonder how casino chips are legal then. They have an Australian Dollar value printed on them. I guess that the casinos are not allowed to accept payment with them.
At a first glance it appears casino chips are governed by State and Territory laws. In Victoria chips are considered to be gaming equipment; gaming equipment needs to be approved by the Victorian Commission for Gambling Regulation. Not sure about casino chips, gift cards, frequent flyer miles, etc., you'll have to DYOH.
They dont like you taking piles of chips out of the casino, so it could have something to do with this currency legislation. Maybe part of their gaming licence is the use of their 'gaming equipment' on their premises.
i think they dont like you taking them out for reason that you may make copies and come back in few weeks with more chips then when u left last time, like a few million more
DYOH. I don't think making your own silver coins is feasible (if not illegal). The government could always introduce an equivalent of the Bank Notes Tax Act 1910 - they charged 10% tax on private or State-issued bank notes. Without doing the research it may be that these tokens are tokens for credit, not tokens for cash.
As long as your gold disc does not represent itself as money/currency or have any value on it, I don't see any problem with exchanging them for goods or service - that is just a barter transaction. Practically and from marketing to the mass market, you have to issue a gold debit card. This would operate just like existing cards do when you go overseas - the merchant you buy from gets local dollars through credit card system, you get charged in your local currency and somewhere along the line a foreign currency transaction is done. Gold in this system could easily be considered just a "foreign" currency requiring conversion. Problem is you need to get both CC company and bank interested in the idea.
I have tried to work for silver here in the states with no success. I do remodel work. I thought it was a great idea but its not catching on. Using the present face value of US coins I would work for $1.00 an hour. The people would realize the value of the silver without having to report any gains. I would essentially only earn a dollar an hour until I sell the silver for more than $1.00, thus reducing my tax burden. Its win win. This really all boils down to understanding value. Speaking from my own experience it was a very hard lesson to learn.
Hypothetically, the Perth Mint could act as "the bank" and become a VISA or MasterCard issuer. How you'd get around the problem of chargebacks I don't know because those policies are dictated by the scheme operator (VISA/MasterCard) and you'd have to get an exemption for non-reversible transactions. The only problem with that is Gresham's Law - why would anyone spend quality, gold-backed money when they can spend crappy, government issued money instead? I might trade in some gold to buy under-valued shares if I thought that gold was going to go down (or just sideways), but I'm not sure I'd trade it for my weekly groceries.
