I've solved the Lawful Money Riddle

[shikamaru]

Money is something of value or redeemable in value and gov't can't create value.

Money has 4 functions i.e. 1) unit of exchange, 2) unit of measure, 3) store of value, and 4) standard of deferred payment.

Value is created and destroyed all the time.
My question is how do you define value?

And tresury notes and bonds aren't lawful money since they even AREN'T currency.
"Money[/B]: In usual and ordinary acceptation it means coins and paper currency used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate. Lane v. Railey, 280 Ky. 319, 133 S.W.2d 74, 79, 81."
[/U][Black's Law Dictionary, Sixth Edition, p. 1005]

Treasury notes and bonds circulate between banks and governments. Would this not be currency at least for those participants?
Further, treasury notes and bonds serve as "reserve currency" or assets for the US banking system.

So Federal Reserve Notes (FRN) are not "money", but they are "currency" from a legal perspective. And let's not forget that at least until 1963 FRns were redeemable in lawful money, so OBVIOUSLY they weren't lawful money.

Let's look at it from this perspective.
Law is will. Will of the political power holder.
Gold and silver coin became lawful money in England only by ruling of the English courts. Prior to this event silver coin was the defacto currency of the realm.

The English Courts could have just as easily said that seashells or salt is lawful money.