Community Currency Magazine May 2009 Issue § 13
What is the American Open Currency Standard(AOCS) and how does the mission statementread?
The American Open Currency Standard exists toexpedite the implementation of Silver as money. TheAOCS is a temporary bridge between the world of
government-imposed at currencies and a free market
system where commodities and other stores of valueare actively traded in the MarketPlace. It is our ultimategoal to see goods and services once again priced inounces, grams or grains alongside variable “paper”prices. When this is true, we will know that our missionis successful.
When did the AOCS get started?
The concept for the AOCS was hatched in November of 2007 after an in-depth study of the Liberty Dollar model, its strengths and challenges. The AOCS has yet
to ofcially “launch” with a nationwide PR campaign.
What’s Wrong with the U.S. Dollar?
Runaway government decit spending has no oversightwith a paper currency. The US dollar is no longer based
on an amount of gold, but instead is created based onthe production limitation of the fastest printing press.
From the AOCS web site, I read:
“At the present moment, the AOCS trade
group exchanges a 1oz .999 ne silver piece at a value of “fty”. This means amerchant is willing to exchange fty dollars
of goods or services for a 1oz AOCS round.”
How many merchants are tradingnow using AOCS approedmetal?
Presently, Merchants arecategorized by their acceptanceof either “barter” or “AOCSApproved”.Only a few thousand Merchantsdirectly accept AOCS ApprovedSilver directly at their place of business, while the other Merchantsaccept payment in barter. We canactively trade with any “barter”Merchant after converting our Silver one-to-one with the preferred barter currency.
Are the merchants also Liberty Dollar merchants?
A Merchant is invited to accept any currency theyplease. As the Liberty Dollar is presently trading a oneounce round for a value of “twenty”, I imagine mostMerchants accepting AOCS Approved are also happyto accept Liberty Dollars. I do not think, however, thatthis works the same way in reverse, though I don’tknow of any uniform centralized directory of LibertyDollar merchants.
A lot of our readers support and use the LibertyDollar. Is the AOCS sort of a clone of the LDorganization with the sort of base changes in facealue?
I desribe the AOCS model as “the Liberty Dollar on steroids”. There are many similarities and a few
signicant differences between the two:
Both systems use the same1.formula to calculate valuationchangesAOCS Currencies do not “move2.down” in valueAOCS is a decentralized3.network, allowing anyone to createa Silver Currency. When they followthe 2 guidelines (use an approvedMint, and reference the current“Series C” valuation or no valueand just a weight and purity), theymay call their new Currency “AOCSApproved”. This eliminates anysingle point of failure in our system.AOCS invites everyone to purchase our Currency4.at a discount, not just “Associates” or “RCO’s”. Our suggested retail price at the moment (increasesJune 15th) is market “ask” + 5.50 per 1oz proof-like