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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (23865)	10/10/2007 9:58:12 PM
From: pogohere	Read Replies (2) \| Respond to of 217655

Their quality as a legal tender is an attribute of law aside from their bullion value. They bear, therefore, the impress of sovereign power which fixes value and authorizes their use in exchange." Ling Su Fan v. U.S., 218 US 302 (1910) Aristotle: "Money at root is both an idea backed by confidence and a workable and convenient medium of exchange." "All goods must therefore be measured by some one thing . . . now this unit is in truth, demand, which holds all things together . . . but money has become by convention a sort of representative of demand; and this is why it has the name nomisma--because it exists not by nature, but by law (nomos) and it is in our power to change it and make it useless. . . . Now the same thing happens to money itself as to goods--it is not always worth the same; yet it tends to be steadier . . . money then acting as a measure makes good commensurate and equates them . . . There must then be a unit, and that fixed by agreement" (Ethics 1133). So, the debate about what money is begins to rise to public view. Let the fun and games begin!