Quote:
Originally Posted by u-Bob
the real problem is the whole idea of legal tender.
wikipedia: "Legal tender or forced tender is an offered payment that, by law, cannot be refused in settlement of a debt, and have the debt remain in force."
If you allow the government to determine what can be used as money and what cannot, you allow the creation of monopolies with all the problems that naturally follow...
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You have a point there. It's a form of FORCED VALUE. Gold, on the other hand, is market-determined. Hard to corner that market. See the Hunt brothers' sad experience with silver.