Has anyone tried turning their utility bills into legal tender? Apparently it works.
You become the guarantor for your debt and issue a promissory note as legal tender, just as the Reserve Bank issues promissory notes as our currency.
Personally I haven't studied economics, but I'm very intrigued.
Yes, this is related to the new video blog by JK from Teenage Mothers (see the link below).
He took bills from the Commonwealth Bank and transformed them into legal tender (using the 'acceptance for value' method). Then he received credit from the bank. But this topic deserves its own thread.