Electronic cash illegal?

[Thomas Grant Edwards]

On Wed, 18 Jan 1995, Derek Atkins wrote:

> The US dollar is backed by trust alone, today.

Actually, the "backing" of a fiat currency is the need to have some 
around to pay your taxes, else you go to jail.  You are taxed on many 
types of income, even if they are not directly exchanged in the fiat 
currency.  Somehow you have to get some.

This also means that higher taxes can make the currency more desirable, 
lower taxes less, higher government spending less, lower government 
spending more, etc.

-Thomas