A legal tender, or forced tender, is a means of paying debt which cannot be refused. Not only is it a means of paying debt which cannot be refused, but the U.S. government raids and arrests people who compete with them. Surely you've heard of the liberty dollar gold and silver coins, and how it was determined to they're not legal tender (http://www.usmint.gov/pressroom/index.cfm?flash=yes&action=press_release&id=710), even though constitutionally they are legal tender.
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Date: 10/2/10 01:57 (UTC)