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[bob ford <bobford79 AT yahoo.com>]

That makes sense.  Do you offhand know of the law that says a contract based 
on gold is void?    I am somewhat a fan of the cartoonist R. Crumb (Fritz the 
Cat).  A few years ago, he traded, using a legal contract, his 'notebook' of 
drawings for an estate in France.  No currebcy of any kind was used. 

 I know of people in this country who have bought/sold items based on the 
official value of gold, to keep, say, things "under the radar:.  In other 
words say you had two acres of land you wanted to sell your cousin.  The land 
is worth $800 an acre in FRN.  If he sells it to you for 2 oz. of gold, 
legally you have sold it to him for $100.  You have to pay no cap gains, he 
doesn't care about the cost basis, everyone is happy. ? 
....................................................

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--- On Sun, 12/7/08, Clansgian AT wmconnect.com <Clansgian AT wmconnect.com> wrote:

> From: Clansgian AT wmconnect.com <Clansgian AT wmconnect.com>
> Subject: Re: [Homestead] gold back currency anyone?
> To: homestead AT lists.ibiblio.org
> Date: Sunday, December 7, 2008, 9:23 AM
> > >Everything you said makes sense except for one
> fact.  I am holding in my 
> > hand as I type, a 1 oz. Fine gold (.999) $50 Liberty
> coin, U.S.,.  It is 
> > Minted by the U.S. gov't and  it is legal tender.
> 
> Your coin is legal tender only because of its fiat value,
> not the value of 
> the metal in the coin.  By the way, you'd be God's
> own fool to pay a $50 
> restaurant tab with one ounce of gold.
> 
> The mechanism by which the government enforces the
> non-currency use of gold 
> is by specifying that any contract you make specifying gold
> as tender is 
> unenforceable.  You could enter into a contract of any kind
> with someone specifying 
> that they pay you in $20 bills, or quarters, or money
> orders and you can be 
> forced in court to comply with the contract.  But if you
> specify that you will 
> be paid in X oz. of gold, the courts cannot enforce the
> contract.  This law 
> still stands.  What it does is effectively preclude issuing
> coin based on the 
> value of the metal.
> 
> 
> James
> 
> 
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