- May 17, 2007
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Did anyone happen to read that article about the fellow in North Carolina that got in trouble with the federal government for issuing and using his own silver coinage? It was called a Liberty Dollar. They were made in Idaho, but he was using them in North Carolina.
I guess this really seems to threaten the federal government. Why I don't know. Gresham's Law says that bad money drives out good. Actually it says "bad money drives out good money if the exchange rate is set by government."
Any way, there must be some other aspect of this case of which I am not aware; those Liberty Dollars would be hoarded up while the fiat currency would be circulated.
Sometimes news articles leave me wondering. It is not what they say, but what they don't say.
Rufus
I guess this really seems to threaten the federal government. Why I don't know. Gresham's Law says that bad money drives out good. Actually it says "bad money drives out good money if the exchange rate is set by government."
Any way, there must be some other aspect of this case of which I am not aware; those Liberty Dollars would be hoarded up while the fiat currency would be circulated.
Sometimes news articles leave me wondering. It is not what they say, but what they don't say.
Rufus