Re: backing

[Alexander Reynolds <chrome@jhunix.hcf.jhu.edu>]

> This is not what Gresham's Law says.
> 
> Gresham's Law is that if there are two kinds of coins that are stated
> by law to have equal value, the one thats actually worth less because
> of metal content will be the one that you spend first. It doesn't
> apply in this instance at all.
> 
> Perry

I think Gresham's Law applies to authority-influenced currency.  I'm
trying to get a hold on this quote so hold on.

-Alex