ALD: Not welcome in Idaho?

Got notice of the Ponderay, Idaho Police issuing a warning concerning the use of ALD in their jurisdiction. Apparently they missed the notice from the Federal Reserve that there is no crime being committed when people offer and accept alternate currencies as payment.

The retailer in question also apparently neglected to look at the currency itself, or they might have noticed the very obvious contact information on the reverse that would have allowed them to contact a local resource and redeem the silver for FRN's if they mistakenly accepted the silver in payment.

Once again, a furor over being given something of value when what the business wanted was a worthless piece of paper. I remain baffled.

1 comment:

  1. Quote: nor can they be accepted at banks

    That's the quote from the article that gets me. The banks could, in fact, accept them. Some banks do. Most of them don't because they refuse to offer them in change, legitimizing someone elses private currency.

    (Bernard's comment a few years ago: "he (a banker) asked me 'what am I supposed to do with these?' I said, well you could just put them in the cash drawer and offer them in change. He thought for a moment, then said (horrified) 'no, we couldn't do that' ")

    So, those of us who deal in the alternative currencies have to just work around the 'bank obsticle'.

    ReplyDelete

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