pull down to refresh
0 sats \ 7 replies \ @Undisciplined 5 Apr \ parent \ on: 6102 order gave people less than 30 days to surrender their gold bitcoin
ok, this doesn't seem very important
From investopedia:
That's what gold was
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
reply
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.
reply
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
reply
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.
reply
reply
Ok, so even though gold was legally recognized as money, because it had been used as lawful money, it doesn't become legal tender.
Is that the distinction you're getting at?