If "in elastic" currency, us bank notes, is fixed at 300 million, what happens if/when there are enough suitors demanding their lawful money to exceed that number?
I receive personal checks/money orders etc in the line of business I am in, can these be redeemed with lawful money?
Can I write a check demanding the pay or redemption of said check paid disbursed in lawful money?
Now, I've heard it both ways... since Federal Reserve notes have a prior lien on them, people stamp all their cashed paychecks this way, and don't have to pay income tax because they aren't receiving real money. I've heard it the other way, people claim to be paid in lawful money, which cannot be withheld or used as payment for interest on the national debt, so therefore don't have to pay the IRS. Both seem dubious...