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Help| Private Credit v. Lawful Money Current time: 05-25-2013, 11:50 PM |
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Private Credit v. Lawful Money
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05-11-2012, 05:35 AM
Post: #1
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Private Credit v. Lawful Money
since there are no more US Notes in circulation, may FRN's be Lawful Money, simply by Demand ..?
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05-11-2012, 06:29 AM
Post: #2
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RE: Private Credit v. Lawful Money
"since there are no more US Notes in circulation, may FRN's be Lawful Money, simply by
(fine lines, of course) --NonEditor2 (from the fine State Of Delusion) 
_______________________________
If you wish to communicate with me, first define your terms. ~Voltaire The problem with communication is the illusion that it has occurred. ~George Bernard Shaw ... |
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05-11-2012, 08:17 AM
Post: #3
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RE: Private Credit v. Lawful Money
IF we had a truly free market, and IF people chose to use FRNs as money, then yes, I suppose it could be considered “lawful” money. But you could say the same thing about any other currency. And let’s be serious— with the dollar having lost 99 percent of its purchasing power over time, and with true inflation currently running around 10 to 20 percent, how many FRNs would you have if they weren’t forced on you?
He's noble enough to know what's right But weak enough not to choose it He's wise enough to win the world But fool enough to lose it He's a New World man - Rush |
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