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July 5, 2020 | Stores Must Take Cash by Law
Martin Armstrong
Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.
QUESTION: Dear Mr Armstrong,
Here is a softball question for the holiday weekend.
If US currency is legal tender, aren’t retail stores obligated to accept it?
This would seem to restrict the ability of retail stores to 1) demand electronic payment and 2) reject payment using $100 bills.
Happy 4th to you.
MB
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Martin Armstrong July 5th, 2020
Posted In: Armstrong Economics
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