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| Subject: legal tender Legal tender or forced tender is an offered payment that, by law, cannot be refused in settlement of a debt, and have the debt remain in force. Currency is the most common form of legal tender. (Wikipedia Jan 2010) State finance: By John Schroy, on July 6th, 2009 |  One comment  On July 2, 2009, the Federal Reserve announced that it was aware that the State of California was issuing its own currency to pay its bills. This, of course, is consistent with the lack of fiscal discipline which is the hall mark of far left Californian politicians, of which Nancy Pelosi is a prime example. California has experience with nut-case economics, having been the home of the famous Emperor Norton who issued his own currency to pay his bills in the mid-19th century. July 6th, 2009 | Print Article |  Email Article |  Topics: Bank of America, Barbara Boxer, California, Chase Manhattan, FDIC, Henry Waxman, legal tender, money, Nancy Pelosi, Wells Fargo | Category: Financial Market Regulator | One comment |  Short urlInternational finance By John Schroy, on May 23rd, 2009 | 2 comments  Who determines the ‘world reserve currency’? Central bankers? IMF officials? College professors? The answer is ‘none of the above’. In an open, global economy, the world reserve currency is determined by the judgment of millions of importers and exporters in many countries. The world reserve currency is decided by consensus and the personal decisions of exporters as to what currency they will accept for their goods. On this basis, it’s too early to count the dollar out. May 23rd, 2009 | Print Article | Email Article | Topics: Barack Obama, Brazil, Capitalist Ideology, China, Columbia University, Currencies, Harry Reid, IMF, Jeffrey Sachs, Jimmy Carter, legal tender, Mercantilist Ideology, Nancy Pelosi, reserve currency, Scientific American, SDRs, Thomas Gresham, Timothy Geithner | Category: World Economy | 2 comments | Short urlFeatured articles on inside pages
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