It is called "Legal Tender"On the 'worthless' piece paper is...

It is called "Legal Tender"

On the 'worthless' piece paper is written "This Australian Note is Legal Tender Throughout Australia and its Territories"

The Government Guarantee is this:

Where currency is tendered for payment of a debt, that currency must be accepted for the payment of such debt. (within the boundaries of the government issuing the currency)

Any other form of payment may be accepted in place of currency by arrangement between the parties concerned, but only the worthless printed paper is legal tender.

Sixth grade economics, I think, Peter.

Stu