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To: RWB Patriot

How are his coins different from Barter? Barter is legal and one would be bartering his coins for goods and services.


4 posted on 03/22/2011 10:37:10 AM PDT by Apple Pan Dowdy (... as American as Apple Pie mmm mmm mmm)
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To: Apple Pan Dowdy
How are his coins different from Barter?

In economic terms they are totally different. Barter requires a double coincidence of wants. If I'm a chicken owning pickle wanter I need to find a pickle owning chicken wanter in order to make a trade. Because they are valued commonly, coins can serve as a medium of exchange thus solving the double coincidence problem. It's the whole point behind money and arguable anything that can serve as a medium of exchange can, at least in theory, be accused of competing with government money.

14 posted on 03/22/2011 10:50:02 AM PDT by SeeSharp
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