> Yep. If I owe you 100 quid, and I give you that value of English bank
> notes, and you sue me in an English court saying I haven't paid, you
> will lose. Which is fair enough - it is the state's court so 
> why should
> they help you if you don't like the state's money?
> 
> If I offer you 100 pounds worth of cowrie shells, then they 
> might take a
> different view.

It all boils down to the ease that you can then trade afterwards
with what you've been given as money, and to a lesser extent the
ease of keeping it. Ease of trading includes both the amount of
people likely to accept it in turn as payment, and the "value"
that they will agree to put on the money you give. "Legal" money
is good on both: people accept it, and they don't bicker over
its value to gain a cent on a dollar.

-- 
Vincent Penquerc'h 

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