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Message Subject Guy who put Ron Paul's face on his own minted coins convicted of "domestic terrorism," could get 15 years
Poster Handle Anonymous Coward
Post Content
So it's illegal to make a personal currency?
So would stores that offer in store credit be breaking the law?
I'm so confused.
 Quoting: Anonymous Coward 1100729

the thing about in store credit and gift cards is that in many states they are covered by "escheat laws" and if unclaimed for a certain period of time the state takes a big cut of that money

but either way those are still based in US dollars and sales tax is still charged, and in store credits are still accounted for under GAAP in terms of USD
 Quoting: Anonymous Coward 1292333

And that also shows us just how "electronic" our money has become. Anything on a magnetic strip or an RFID chip is virtual money and could disappear without a trace. Not so with tangible currency.

Why do you think they try so hard to get us to put everything onto cards and into electronic accounts?

Having a potentially worthless paper currency is one thing, having a representation of that paper currency on a magnetic strip is a whole other beast.

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