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Thread: Old Book shows how Constitutional money system worked

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  1. #12
    Quote Originally Posted by motla68 View Post
    This seems to complicate things being of distraction, ...
    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.

    Quote Originally Posted by motla68
    but there is other events that happen at the time it happens.
    Would you care to enumerate what those other events are?

    Quote Originally Posted by motla68
    Taking the word of this guy is no different then taking the word of the informer.
    a) "This guy" is Murry N. Rothbard, a renowned economist from the Austrian School of Economics.
    b) How about investigating the resource, before arriving at a dismissive conclusion?

    Quote Originally Posted by motla68
    How about go to the lawful construction itself rather then second hand opinion again?
    By the by, Congressional Record is not law. Statutes and acts are a form of law.

    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.

    Quote Originally Posted by motla68
    " full faith and credit " , this be at the discretion of the user.
    Is this your opinion?
    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".

    Quote Originally Posted by motla68
    When one writes on it as the equivalent for lawful money it changes it's value quite significantly or does any of the examples previously mentioned,
    What is value?
    Given I have explained the functions of money, what is lawful money?

    Quote Originally Posted by motla68
    the only thing that could matter at the time of use is rate of exchange. This happens with gas prices all the time, " price per gallon ".
    What you speak of is simply price. Price is a measure and statement of value.

    Quote Originally Posted by motla68
    It is not the currency that sets value it is the value of the thing exchanged for that sets the value.
    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.
    Go out an attempt to sell apples at $5 per apple and see if you get any takers.
    Last edited by shikamaru; 12-03-11 at 05:57 PM.

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