On Tue, Sep 30, 2008 at 4:39 PM, ihope <[EMAIL PROTECTED]> wrote: > On Tue, Sep 30, 2008 at 1:11 PM, Ian Kelly <[EMAIL PROTECTED]> wrote: >>> 5727 D 1 2.0 Ivan Hope CXXVII Legal Tender >> AGAINST (at least allow currencies the chance to opt out) > > Legal tender assets are defined by the currency's backing document, > not by the legal tender assets' backing document. Therefore, a > currency does not have to participate. If you meant that currencies' > face values in themselves should not always be 1, can you tell me why?
Ah, I misunderstood that. I still have a problem with the proposal, though, which is that the face values are not constrained and the sentence "Any person CAN exchange an asset for its face value by announcement" is not clear. If I have one grotzit, and the backing document of nargs defines the face value of grotzits in nargs to be 100 points, does that mean I can exchange my grotzit for 100 points? -root
