0 sats \ 11 replies \ @Undisciplined 5 Apr \ parent \ on: 6102 order gave people less than 30 days to surrender their gold bitcoin
Yes it was. The dollar was defined as a weight of gold. The constitution states explicitly that only gold and silver are legal tender.
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5 sats \ 10 replies \ @Lux 5 Apr
the constitution says "no state shall make money other than gold or silver coin", not legal tender
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0 sats \ 9 replies \ @Undisciplined 5 Apr
When America was on a gold standard, and gold was money, gold was used to discharge debts. I'm not sure what point you're trying to make.
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5 sats \ 8 replies \ @Lux 5 Apr
there's a difference between paying and discharging money can pay when there's no money in the system it can only be discharged
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0 sats \ 7 replies \ @Undisciplined 5 Apr
ok, this doesn't seem very important
From investopedia:
Legal tender is anything recognized by law as a means to settle a public or private debt or meet a financial obligation
That's what gold was
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50 sats \ 6 replies \ @Lux 5 Apr
this doesn't seem very important
it makes all the difference.
a discharge doesn't cancel the debt, it just removes the charge, and for any practical purpose in a fiat system, the debt is settled. but, lawfully speaking, it's not payed, there was no exchange of a tangible asset
we both get that fiat is a scam legal tender vs lawful money you should know the diff between legal and lawful
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0 sats \ 5 replies \ @Undisciplined 5 Apr
I appreciate the importance of legal vs lawful, I just don't think you're using the term "legal tender" right.
I'm open to persuasion, if you want to support your usage with some sort of evidence or argument.
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50 sats \ 4 replies \ @Lux 5 Apr
I just don't think you're using the term "legal tender" right.
we share the same opinion :)
I thought i just gave you arguments.
legal have the force of law by contract (consent). we can agree in a contract to use anything as money, but it doesn't make it lawful money.
legal tender means that the authority you/we/anyone consented to subject decided that when legal tender is tendered for debt repayment and not accepted, the debt is discharged, if the particular contract doesn't say otherwise
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0 sats \ 3 replies \ @Undisciplined 5 Apr
What part of that was missing from gold during the gold standard era?
Is it just this particular use of "discharge" that your including in the definition?
That's the part I don't think is part of the definition though.
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