Source: Ludwig von Mises Institute
by Michael S Milano
“Each day we are reminded of this legal imposition by the familiar phrase stamped on every US dollar bill: ‘This note is legal tender for all debts, public and private.’ Innocuous on the surface, but these words conceal a profound immorality that strikes at the heart of voluntary exchange. If a man of sound mind agrees to settle a contract in X, then he should be obligated to pay X. Forcing him to accept anything other than X as payment is an egregious violation of contractual and property rights.” (12/02/25)