Commodity Prices

Gold •692 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,918.90	-32.70	-1.68%
WTI Crude •11 mins	89.44	-4.45	-4.74%
Gasoline •12 mins	3.113	-0.108	-3.34%
Ethanol •692 days	2.161	+0.000	+0.00%
Silver •692 days	30.82	+1.16	+3.92%

Silver • 692 days	30.82	+1.16	+3.92%
Copper • 692 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	95.62	-3.96	-3.98%
Natural Gas • 11 mins	2.952	+0.058	+2.00%
Heating Oil • 11 mins	3.586	-0.129	-3.47%

Headlines

1,077 days Will The ECB Continue To Hike Rates?
1,077 days Forbes: Aramco Remains Largest Company In The Middle East
1,079 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,479 days Could Crypto Overtake Traditional Investment?
1,484 days Americans Still Quitting Jobs At Record Pace
1,486 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,489 days Is The Dollar Too Strong?
1,489 days Big Tech Disappoints Investors on Earnings Calls
1,490 days Fear And Celebration On Twitter as Musk Takes The Reins
1,492 days China Is Quietly Trying To Distance Itself From Russia
1,492 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,496 days Crypto Investors Won Big In 2021
1,496 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,497 days Food Prices Are Skyrocketing As Putin’s War Persists
1,499 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,500 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,503 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,504 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,504 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,506 days Are NFTs About To Take Over Gaming?

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Douglas V. Gnazzo

Douglas V. Gnazzo is the retired CEO of New England Renovation LLC, a historical restoration contractor that specialized in the restoration of older buildings and…

More Info

Contact Author

Legal Tender

By Douglas V. Gnazzo - Aug 28, 2010, 4:35 PM CDT

Editors note: This is chapter 6 of Douglas Gnazzo's eBook Honest Money.

Legal tender laws result from the difference between the legal and the economic definitions of money. The two definitions need not be different, although they usually are. They can be the same. It depends on the type of monetary system in use and the policies it follows and conforms to.

In an honest monetary system there is no difference between the two definitions. Money is the same, however it is used. An ounce of silver is an ounce of silver. No further names need be attached, to do so only confuses and complicates the issue.

Honest Money -- Legal Tender, Chapter 6