P. Edronkin

Gea's Gold Pattern (III).



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We already have bills printed, but they don't circulate easily in order to avoid 'inflation.' In fact, on every general assembly (once in a month), Gea's authorities decide how much should be released for circulation among the organisation's members based on certain criteria. Then, each bill is signed and date-stamped.

This is a very simple form of a conversion system by which for each POG released there has to be an equivalent backup of recognized capital. Since we try to keep this 'currency' valuable, we never release more units than what we actually have in capital appraised in U$ Dollars.

Essentially, a POG is like a bearer share of property over the capital of Andinia.com, which can be exchanged anytime. This simplifies accounting and other procedures, and since these units don't have a widespread circulation outside our group, there is little fear for robbers and lost bills. We know where they are and where they are not supposed to be.

The system works like a traditional currency: if someone has to pay a debt, POGs can be transferred like bills, and even bartering is streamlined in this way.

There is, however, an additional advantage, which is that it simplifies capital transfers in such a way that later tax payments become much easier to report. There is no elusion or evasion; the system is not designed for that, but if there is a complicated transfer of capital, passing thorough various persons, instead of registering each operation, since these are expressed in POGs, only the first and last should be reported to the tax collector.




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