RE: chartalist money

["Harry Veeder" <eo200@xxxxxxxxxxxxxxxxxxx>]

>Per Gunnar Berglund wrote:
>
>> Paul,
>>
>> Isn't there a 'little' detail that should be added to the below? Namely
>that the exchequer would take clipped coins BY WEIGHT, not at face value.
>In effect this meant that taxes could be paid either in money (milled
>coins) or in kind (clipped coin at market bullion value).
>
>


>From: Warren Mosler <mosler@xxxxxxxx>

>Also, goes without saying, if the intrinsic value of the coin is not lower
than the
>'chartal value' the coins are not used for 'chartal payment.'
>
>w


In this instance, the value of a coin corresponds with a coin's weight.
"Intrinsic value" corresponds with the actual weight of the coin and
the "chartal value" corresponds with the weight of the coin
set by the State and its Mint.

Harry Veeder