Alternative Choice Community Bank

Frequently Asked Questions

Alternative Currency Q & A

1. Isn’t making your own currency illegal ?
A. No it is illegal to copy ‘Legal Tender’

2. What is the currency called ?
A. Alternative Choice Silver Credits or ‘Silver Credits’

3. What is ‘Fiat’ currency ?
A. ‘Fiat’ currency is money created by decree or law, it is money because a government says it is. It has no guaranteed value.

4. Why do we need a ‘Commodity Locked Currency’ ?
A. A ‘Commodity Locked Currency’ is redeemable for a given quantity of a commodity, in this case Silver Bullion. This quantity will not change, so continuing value is assured.

5. Why is the currency locked to silver instead of gold ?
A. Gold because of its much higher acquisition cost is prohibitive and therefore the value of individual currency units is is too high, thereby making redeemability impractical for small account holders.

6. Why should I change currency ?
A. You should not change currency. Abandoning a system that is working however badly is impractical. This is an additional system.

7. How can I know that my money is safe ?
A. Your money is safe because it is guaranteed by the bullion that is held in secure storage.

8. How is this better than the present banking system ?
A. Transfer of amounts to other account holders is immediate no matter where they are, and there are no fees.

9. What businesses will accept this currency ?
A. Whatever businesses display the ‘Silver Credits Welcome Here’ sign on their entrance.

10. What happens if I want to opt out of this system ?
A. If at any time you decide to opt out of the system (decide that you no longer want to use it) the Silver Credits in your account will be redeemable for silver bullion. And your account will be closed.