No distraction. I'm introducing elements which you have not considered nor were you aware of.
Money serves (4) functions:
a) unit of account
b) medium of exchange
c) standard of deferred payment
d) store of value
Historically, the medium of exchange and the unit of account may not have been the same item.
The attempt to play off my post as a distraction only serves to show your ignorance of the breadth and depth of the subject matter.
Would you care to enumerate what those other events are?Originally Posted by motla68
a) "This guy" is Murry N. Rothbard, a renowned economist from the Austrian School of Economics.Originally Posted by motla68
b) How about investigating the resource, before arriving at a dismissive conclusion?
By the by, Congressional Record is not law. Statutes and acts are a form of law.Originally Posted by motla68
Given you don't know if your hole is bored or punched on this matter, I'd say you aren't qualified to determine the quality of resources presented.
Is this your opinion?Originally Posted by motla68
You'll need to state as such as well as provide another opinion, perhaps officially, for us to gain a better understanding of the clause "full faith and credit".
What is value?Originally Posted by motla68
Given I have explained the functions of money, what is lawful money?
What you speak of is simply price. Price is a measure and statement of value.Originally Posted by motla68
What sets the value is what the buyer is willing to pay for it. Price being the measure and expression of value of an item.Originally Posted by motla68
Go out an attempt to sell apples at $5 per apple and see if you get any takers.