Legal Tender Forces Gold Out

Keith Weiner is founder of the Gold Standard Institute USA in Phoenix, Arizona, and CEO of precious metals fund manager Monetary Metals. He created DiamondWare, a technology company which I sold to Nortel Networks in 2008.
The government has many ways of forcing us to use their paper dollar as money. The tax on capital gains on gold is one bullet in their gun. The legal tender law—U.S. Code Title 31 §5103—is another. As with the tax, legal tender does not outright force anyone. It works by a subtler mechanism.