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50 sats \ 2 replies \ @Lux 5 Apr \ parent \ on: 6102 order gave people less than 30 days to surrender their gold bitcoin
in a gold standard the debt is payed with lawful money in a fiat system the debt is payed(discharged) with legal tender, a legal fiction
the state inc. doesn't have jurisdiction over lawful money, only over that wich it creates
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0 sats \ 1 reply \ @Undisciplined 5 Apr
Ok, so even though gold was legally recognized as money, because it had been used as lawful money, it doesn't become legal tender.
Is that the distinction you're getting at?
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50 sats \ 0 replies \ @Lux 5 Apr
they had to make the "institution of legal tender" for to remove lawful money from the system this at least what I learned, if I'm wrong, I will happily adjust
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