Re: missed the basic point


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Posted by D Sherman [72.47.153.24] on Tuesday, February 28, 2012 at 11:59:31 :

In Reply to: missed the basic point posted by clueless [186.15.41.242] on Tuesday, February 28, 2012 at 10:56:17 :

That's cute but useless, like one of our state legislators who keeps pushing to allow gold and silver coins to be considered legal tender for paying bills to the state. As long as there's a federal government, it's illegal for states or for banks to issue their own currency. If the federal government falls apart, it's unlikely the state governments will be much better or have time to worry about currency.

In places in the world that have no functional government, people find something else to use for money, usually the currency of some nearby more stable country (which would be Canada for us), or something of universally recognized value.

In Uganda where the government prints "money" like it was toilet paper, and it's illegal to use outside currency, the main currency people use is prepaid phone cards. It's a brilliant idea. Everybody needs them, the value in minutes is printed right on them, and they're impossible to counterfeit.



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