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November 16, 2011

Tea party and occupy Wall St. can agree on this

Or maybe not. There was bipartisan incredulity when it was reported that Louisiana banned the use of cash at Goodwill stores and flea markets. Some on the Ron Paul Forum thought it was outrageous.

So did Daily Kos.
"Lawmakers in Louisiana have effectively banned its citizens from freely using United States legal tender." one lawyer said.

Turns out that the ban was intended only to apply to dealers of secondhand stuff -- defined as people who buy and sell used goods at least once a month. From a Gannett paper:

This impression, Richardson said, was a misconception about the intention and purpose of the act, which went into effect Aug. 15.

"Act 389 does not affect the purchase of goods by a consumer from any business," he said in a statement in the days following the broadcast report.

Several news organizations have since reported about what sponsors have said were the true intentions of House Bill 195 and eventually Act 389, but that story has not been as widely disseminated, said Nancy Johnson, public information specialist with the state Legislature.

Still, a lot of antique & collectibles pickers buy stuff at garage sales and old farms and use cash. Still seems like a weird law.

Posted by Jay Hancock at 6:00 AM | | Comments (2)
        

Comments

What did he say the bill does?

" Louisiana banned the use of cash at Goodwill stores and flea markets."

Huh, I don't get it, how can you 'ban' the use of legal tender to purchase something? I realize that we no longer have 'gold' backing our dollar, but our dollar is worth something, isn't it?

Or is someone becoming a partner with VISA so they can get their share.

I'm confused.

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Tuesdays and Sundays.
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