A Dollar is a Liability

It seems "debt-backed" is even simpler than it first appears. If your money is liability-backed, that means it's a liability. The correct thing to do with any dollar is to get rid of it as quickly as possible. It's a hot potato. 

It's extraordinarily foolish to agree to be paid in paper money. If at all possible, avoid receiving it in the first place. It's a hot potato at best - more like rotting trash. Losing value every second. The only reason you were paid in dollars was so they could get rid of this anti-asset ASAP. 

 

The long end of the tally stick is given to the side holding the loan. Under a central bank, this is reversed: you can seize the long end of the stick by taking out a debt. Adopt as many negative-dollars as possible. Reminder that banks only allow such low-interest loans because it's not their money their loaning; it's free interest, from their perspective. When they're paid dollar interest, they can quickly pass off this hot potato for a real asset. (Real-ish, anyway, given everyone else scrambling to do the same.) Even if something goes wrong and they have to throw the trash out in the end, it was free, therefore ¯\_(ツ)_/¯. 

 

A dollar is worth less than whatever you sold for it. Always. Every time. Between the time you set the price and the time you received payment, there was some inflation, due to money-printing. Ditch the dollar before there's even more inflation. 

Turns out you shouldn't accept counterfeit bills, even if they were printed legally.

P.S. "In 1834, following the passing of 4 Will. 4. c .15, tally sticks representing six centuries worth of financial records were ordered to be burned in two furnaces in the Houses of Parliament^. The resulting fire set the chimney ablaze and then spread until most of the building was destroyed." Ominous.