What Is Lawful Money?
Автор: Simple Explain
Загружено: 2024-05-10
Просмотров: 555
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Today, we will talk about the meaning of lawful money, its history, and how it differs from fiat money. Lawful money, issued by the United States Treasury, includes gold and silver coins, Treasury notes, and Treasury bonds. It stands in contrast to fiat money, which is considered legal tender but has no intrinsic value of its own and is not backed by reserves. The history of lawful money, particularly the differing interpretations and amendments to the Federal Reserve Act, sheds light on the confusion surrounding its definition. This confusion stems from the varied interpretations of the U.S. Constitution and the lack of a specific definition of lawful money.
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