[Dukie]

Hmmm....I'll have to check out those cases.

Can you elaborate on their applicability to this question. I'm not familiar with the citations - is either is a Supreme Court ruling ?

[Poohbah]

These cases ruled (based on stare decisis, no doubt, as they were not Supreme Court cases and were denied cert) that Federal Reserve Notes are legal tender, that Congress has acted within its scope of authority in establishing the Federal Reserve, and that there is no constitutional requirement for Congress to back US currency with precious metals.