Transaction

j"1LAnZuoQdcKCkpDBKQMCgziGMoPC4VQUckM·<div class="post"><div class="quoteheader"><a href="https://bitcointalk.org/index.php?topic=845.msg10268#msg10268">Quote from: fresno on August 19, 2010, 05:40:46 PM</a></div><div class="quote">Has anyone noticed that the FRN is exactly that, "it's own unit for accounting purposes"?<br/><br/>The lawful United States dollar is defined in law as 371 4/16th grains of silver. This has been slightly modified, but never repealed. The "dollar" is actually a unit of measure, you can look it up. Bet they didn't tell you that in school!<br/><br/>The Federal Reserve Note is "denominated in dollars", or as Red above states, they have defined their own unit for accounting purposes. Write the Fed a letter, press them on the subject. The will reply that the FRN is "backed by the full faith and credit of the U.S. government." What they won't admit is that the FRN is NOT a U.S. dollar as defined in law. It is "denominated" as one only because you agree to the terms in commercial contract.<br/><br/>Why did we take this little tour? Because it illustrates that we can define our terms. And that it is foolish to use their terms -- money, cash, dollar, currency, and a crapload of others.<br/><br/></div><br/>I thought that it proved that we can use whatever words we want and define them however we want and just because 'they' use the word 'dollar' to mean something does not mean we can use a word spelled the same way to mean something completely different.</div> text/html