Quote from: Stephen Gornick on July 22, 2011, 05:02:28 AM

Quote from: WiseOldOwl on July 22, 2011, 03:14:28 AM

but you do have to go through an exchange before you spend it.

Do you have a source for this claim, by chance?

Sorry, should have clarified a little.
I meant that in the US you couldn't really buy anything at wal mart with euros. Im pretty sure that the only currency legally protected to settle debt here is US currency. So at some point you would have to exchange it for us dollars in some way, to be able to use it here. I also know that it was common practice for countries to ban the use of foreign currency, although I am reading that this isnt the case as much anymore due to globalization.
http://en.wikipedia.org/wiki/Foreign_exchange_controls

The coin act of 1965 says something like this
Section 102 states: All coins and currencies of the United States (including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations), regardless of when coined or issued, shall be legal tender for all debts, public and private, public charges, taxes, duties, and dues. Only United States currencies (including Federal Reserve Notes) are currently legal tender in the US.

This is from 1965 though so there cold be about a book full of exceptions, I am no lawyer, I dont even know if this is valid at all. I want to say right now that this is all brainstorming territory so I feel te probability of being wrong is high in this thread.