Are "competing currencies" already allowed? (user search)
       |           

Welcome, Guest. Please login or register.
Did you miss your activation email?
June 15, 2024, 11:04:24 AM
News: Election Simulator 2.0 Released. Senate/Gubernatorial maps, proportional electoral votes, and more - Read more

  Talk Elections
  General Politics
  Political Debate (Moderator: Torie)
  Are "competing currencies" already allowed? (search mode)
Pages: [1]
Poll
Question: Are "competing currencies" already allowed?
#1
Yes
 
#2
No
 
Show Pie Chart
Partisan results

Total Voters: 9

Author Topic: Are "competing currencies" already allowed?  (Read 2196 times)
SPC
Chuck Hagel 08
Atlas Icon
*****
Posts: 10,003
Latvia


« on: December 13, 2008, 12:25:34 PM »

No, you have to accept dollars because of legal tender laws.

Exactly. While one could use competing currencies (Liberty Dollar, for instance, of course the feds busted them for "counterfeiting", even though no Federal Reserve Notes have a denomination with Ron Paul on them), the legal tender laws ensure that if you use the FRNs, you will get service, whereas you have a lower chance of getting service if you use a private currency. Thus, this gives the FRNs an unfair advantage, since Gresham's Laws says that under legal tender laws, one would be more likely to use the less valuable currency than the more valuable currency. If legal tender laws were abolished, and the FBI stopped raiding private mints on bogus counterfeit charges, then we might have competing currencies.
Logged
Pages: [1]  
Jump to:  


Login with username, password and session length

Terms of Service - DMCA Agent and Policy - Privacy Policy and Cookies

Powered by SMF 1.1.21 | SMF © 2015, Simple Machines

Page created in 0.027 seconds with 12 queries.