Skip to Content.
Sympa Menu

homestead - Re: [Homestead] gold is money

homestead AT lists.ibiblio.org

Subject: Homestead mailing list

List archive

Chronological Thread  
  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] gold is money
  • Date: Sun, 7 Dec 2008 21:00:14 EST



> >But it doesn't prohibit transactions in gold... does it?

No, not at all. Remember that this thread started from the Lakota "bank"
that would only accept gold or silver as transactions. Even that is not
prohibitied so long as the gold is not being used as money (no such
prohibition exits
or ever has for silver). The prohibition on using gold monetarily includes
gold coin, gold bullion (technically any gold relying on its metalic worth
rather than face value. If it relies on face value [fiat value, enforced
value] it
is coin), and gold certificates. The Lakota "bank" could not issue notes or
bonds based on the gold it held. Well, actually it could, but anyone holding
the note could not sue the bank to force the bank to make good on it so why
would anyone hold them?




Archive powered by MHonArc 2.6.24.

Top of Page