so what is legal tender think you know it? well think hard and then read this and then post your thoughts http://www.coinnews.tv/Legal-Tender-Term-that-Leads-to-Confusion.htm
Howdy, Nice article. I knew about the FRN definition, but this was interesting in the ability to Refuse. Couple of follow ups: first the Liberty Dollars and their being busted by the FBI for supposedly trying to substitute the LDs for 'legal tender' a charge that is denied. http://en.wikipedia.org/wiki/Liberty_Dollar and, http://www.libertydollar.org/ The other is the definition and differences between Currency and Money. My understanding equates currency with legal tender but it's not money. Money in an unreal concept that some would say represents the 'value of the currency'. Others simply equate money with gold but I think this is missing the poink. Money is the unreal concept of value and when folks value gold more than currency the POG rises. thoughts? rono
money to me always has meant currency with which you can buy other things. money is a store of value. also its supply and demand currency is unlimited becoz govts can print any amount of it ina fiat system thats why it loses value against gold
Interesting article. I've had my share of money refusals. $2 bills, half dollars and those baby dollars. In a store no one wants to get into an discussion with a cashier about odd, not commonly used money. I'd just love to try a pelt somewhere. Imagine offering to pay for food in store with some fur pelts.
Nothing I didn't already know. And Rono is correct "money" is a concept not a physical thing. Coins, currency, gold, silver, tobacco, pelts whatever are used "as money" they aren't truly money in themselves. And thing about when you buy something with plastic. "Money" changes hands, but nothing physical does, just an adjustment of bookkeeping entries. Evn with a check, the check is not money but merely an instruction as to what bookkeeping entrys to adjust.
