The other thing is the international usage machines would have to pick up tampering. It would have to pick up foreign notes and notify the international body. Every note would have to have a separate identifier with a sequential reference for that countries currency issuance.
Even the banks, if banks are permitted would have to have their note storage validated note by note through machine validation encryption techniques as their cash on hand balances and daily reconciliations. If two notes pop up simultaneously with the same identifier, alarm bells!!! The only valid way this could happen ii if a note was deemed lost and was replaced in which case the older version should be seized and take out of the system.
The interesting part of such a system is credit. Would it be allowed??? If allowed could only be based on the notes held tied back to the gold holdings. What form would the lenders take?? Who could lend?? Of course the lenders could not issue currency, thats the domain of the international mint linked to the central repository. Would lending rules be country determined or centrally determined via country consensus?? If a country wanted more currency they could devalue linked back to holdings or add more holdings to the central repository.
The other thing is the validation of each countries gold and silver would have to include reforming into molten form and recasting to ensure purity and validity of each countries holdings at a facility within the central repository which could be observed by many.
Things start to get interesting with taxation and other redistributions when the countries cannot issue currency but that just holds them accountable to what they do and how they govern their societies relative to the rest of the world. Governments could not just print money nor could they buy assets without giving something up as compensation excluding land. What immigrants, and travellers do regarding their exchange also becomes interesting. Notes can leave the country via exchange, Other countries with other notes have a claim over the relative holdings in the repository or do they?? Does it mean a Venezuelan international; note can be used to buy a good in Australia and a price determined by the international holdings at the time?? No need for foreign exchange?? If the international machines are ultra smart apart from note identifiers and they handle note exchange and change calculations. Is their a electronic record that matches note records and reconciles back to holdings at the central repository?? This international note identifiers in theory would be in every store or certainly the major ones, not just lenders or banks if they even existed. The other thing it would be smart for such international machines identifying and exchanging notes at international airports and other domestic airports for travellers and immigrants. Maybe airports become hubs for lenders and currency experts.
Its quite interesting and complex in how this would work if you start to think about it. Maybe domestic notes get exchanged at airports and remain in country they belong to
