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not really, if the person doing the transaction does not want any dollars for his business, but will take my gold, then dollars are worth nothing at all.
If the person doing the transaction doesn't want gold for his business, but will take my graham crackers, then your gold is worth nothing at all. Silly, no?
Of course your gold is worth something even if it isnt accepted for a specific transaction. Same for the dollar.
Look at it this way. Have you ever gone to a store that accepts only cash? Does the fact that this store accepts only cash make your credit cards worthless? Nope. In that store it does, but your credit cards retain their intrinsic value.
If the person doing the transaction doesn't want gold for his business, but will take my graham crackers, then your gold is worth nothing at all. Silly, no?
Of course your gold is worth something even if it isnt accepted for a specific transaction.
very true, but we are not talking about graham crackers, we are talking about gold and dollars. gold has always been worth someting, whereas the dollar is worth less and less everyday.
I have also been into stores before that will not take the dollar, but will take gold or silver for their items.
very true, but we are not talking about graham crackers, we are talking about gold and dollars. gold has always been worth someting, whereas the dollar is worth less and less everyday.
But the dollar is worth something, its value fluctuates. Guess what, the same is true of gold.
very true, but we are not talking about graham crackers, we are talking about gold and dollars. gold has always been worth someting, whereas the dollar is worth less and less everyday.
Everything is worth something to someone. Printer ink for instance could be used as money according to your logic, it is quite expensive per ounce, you could even measure, pour and thus pay with it much more easily than with gold which you have to smelt and stuff
very true, but we are not talking about graham crackers, we are talking about gold and dollars. gold has always been worth someting, whereas the dollar is worth less and less everyday.
I have also been into stores before that will not take the dollar, but will take gold or silver for their items.
That is irrelevant, just because the store doesn't accept dollars, it doesn't mean the dollar doesn't have value.
I have, twice in Wisconsin, once in Minnesota and more than both in Montana.
those stores would take foreign currency, but not the weak dollar.
Lol, that doesn't make much sense, I assume the exchange rate was made based upon the value of the dollar to the foreign currency. It was a bad move on the proprietors part since the dollar has been fairly strong in this recession versus other currencies. Flight to quality and all.
Also, why not accept dollars and exchange them for foreign currencies? These were truly bad business people.
"This means that US notes and coins are a valid and legal offer of payment for debts when tendered to a creditor. However, although businesses must accept dollars, that doesn’t mean they literally have to take your big wad of bill,s which is bulky, difficult to make change for, and, frankly, a breeding ground for germs.** A vendor can usually put reasonable conditions on the manner in which they will accept dollars, and one of those conditions can be that they’ll only accept dollars electronically, via credit card.*Or, as the US Treasury explains on their website, “Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.”"
"This means that US notes and coins are a valid and legal offer of payment for debts when tendered to a creditor. However, although businesses must accept dollars, that doesn’t mean they literally have to take your big wad of bill,s which is bulky, difficult to make change for, and, frankly, a breeding ground for germs.** A vendor can usually put reasonable conditions on the manner in which they will accept dollars, and one of those conditions can be that they’ll only accept dollars electronically, via credit card.*Or, as the US Treasury explains on their website, “Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.”"
like it was stated, they have to accept some form of payment, but what the payment is is up to them. dollars is a form of payment, and I have see private businesses that will not accept dollars. the fed might say they have to, but in actuality i dont see the fed backing that up.
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