Re: Drinking the von Mises Kool-Aid
When you “spend” any money into circulation it implies there is trade occurring. There is a buyer and a seller. If the buyer’s money is good, why do we need a law that forces the seller to accept it, Thomas?
Because this isn’t simple barter this is a medium of exchange concept and we have to have uniformity. Regulation is about making things work, and shouldn’t be about control. So we get the benifits of barter, but we use a medium of exchange.