Sunday, September 27, 2009

Dollar Defined

The Dollar as money defined

Looking at an old federal reserve note ( 1934 series not in abundant circulation) and reading the data on the bill, it states;

” This note is “Legal tender” for all debts public and private and is redeemable in ” lawful money” at the United States Treasury or at any Federal Reserve Bank.”

It plainly states that the note is “legal tender” but then says it is redeemable in “lawful money”. Therefore Federal Reserve Notes are ” legal tender” but not “lawful money”. The Federal Reserve note is apparently evidence of some right to recover, as printed at the bottom of the front side of the note, just under the picture are the following words;

“WILL PAY TO THE BEARER ON DEMAND ONE HUNDRED DOLLARS” or it used to, they hid this over the years.

This becomes obvious when looking at the United States Code, which, in talking about Federal Reserve notes, says;

” They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve Bank.” U.S.C.A., title 21, section 411. ( yep I have the entire U.S. code stacked up on the shelf, wouldnt ya know it, ha ha). Why you ask, cause I hate friggin liars.

Therefore, “ONE HUNDRED DOLLARS” or ONE DOLLAR is something different from a Federal Reserve Note or it would not state on the note that the note is redeemable in ” DOLLARS”.

It appears that Federal Reserve Notes are simply a medium of exchange used in place of, in lieu of, or as temporary substitutes for that which should be redeemable for “lawful money” of the United States—”Dollars.” ” Lawful Money” of the United States is not Federal Reserve Notes, as “Lawful Money” it can only be “DOLLARS.” A DOLLAR is a ” UNIT” of measure and is so defined;

” A silver coin of Spain and of the United States, of the value of one hundred cents of four shillings and sixpence sterling. American Dictionary of the English Language, Noah Webster, 1828.

The DOLLAR means “lawful money” of the United States. (103 U.S. 792 )

” The gold coins of the United States shall be a one DOLLAR piece, which at the standard weight of 24.75 grains shall be the unit of value.” 31 U.S.C.A. 314

A DOLLAR then is a coin that has value. In other words a DOLLAR is something of value, not something that represents something of value, nor an implied evidence of value. A coin has value as it is made from a substance that itself has value. A coin is defined as;

“Money stamped; a piece of metal, as gold, silver, copper, or other metal, converted into money by impressing on it marks, figures or characters.” Websters, 1828, Vol I, page 40

A coin then, of stamped gold or silver, is money. Money is defined as:

” Coin, stamped metal; any piece of metal usually gold, silver, or copper stamped by public authority ,… among modern commercial nations, gold, silver, and copper are the only metals used for this purpose. Gold and silver containing great value in a small compass, and being therefore of easy conveyance, and being also durable and little liable to diminution by use, are the most convenient metals for coin or money. Which is the representative of commodities of all kinds, of lands, and of every thing that is capable of being transferred in commerce.” Webster’s Volume II, page 18

This definition is further substantiated in law dictionaries which define money as;
“Gold and silver coins. The common medium of exchange in a civilized nation.”
Bouvier’s Law Dictionary, 1870, page 192. Love that old book.

” In usual and ordinary acceptation it means gold, silver, or paper money used as circulating medium of exchange, and does not embrace notes, bonds, as evidence of debt…Lane v. Riley, 280 Ky 319…” Blacks Law Dictionary, 4th Ed. page 115. ( Federal Reserve Notes are FIAT DEBT NOTES, not real, fake). What can you buy with 3500 FDRNs? Now what can you buy with 3500 American Silver Dollars, you know, those old metal dollars. A LOT MORE, I could go buy a new truck with them if I so desired.

Are you starting to get it? I certainly hope so. lets continue a bit further.

” In its strict technical sense, “money” means coined metal, usually gold or silver, upon which the government stamp has been impressed; it indicates its value.” Black’s, supra.

Interestingly enough, in this definition it can be plainly seen that money is coined gold and silver ( DOLLARS) having a value, and cannot be NOTES or evidences of debt.

A DOLLAR is defined as; ” The money unit of the United States…established under the confederation by a resolution of Congress, July 6, 1785. This was originally represented by a silver piece only; the coinage of which was authorized by the act of Congress of Aug. 8, 1786. But the coinage was not effected until after the passage of the act of April 2, 1792, establishing a mint.”
Bouvier’s, p. 496

That act was passed after the Constitution was in force and effect and is 1 U.S. Statute at Large, 246 which states; ” that there shall be from time to time struck and coined at the said mint, coins of gold, silver, copper of the following denominations, values and descriptions…” DOLLARS or UNITS—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.”

” That the money of account of the United States shall be expressed in dollars or units…and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation.” ALL DOLLARS are specific ” UNITS” of gold and silver coins having a fixed “value” based upon their weight content of gold and/or silver in grains and are ” lawful money” of the United States. This is further substantiated by the United States Code which states; ” Lawful money shall be construed to mean gold or silver coin of the United States. U.S.C.A., title 12, Section 152

The ” DOLLAR” means lawful money of the United States. 103 U.S. 792.

Lawful money of the United States is quite a different thing from legal tender or other lawful currency for the United States. Federal Reserve Debt Notes are a legal tender for but not of the United States. It can be said that all DOLLARS are legal tender, but not all legal tender is DOLLARS, Federal Reserve Debt Notes cannot be, nor ever have been ” Lawful Money” of the United States.

Federal Reserve Debt Notes and other forms of lawful money are not the topic of my blog, but it should suffice to say that anything could serve as a currency for the United States ( such as Federal Reserve Debt Notes) but there is only one form of ” lawful money of the United States” and that is the DOLLAR, expressed in a unit of weight in grains of gold and silver contained in coin. Since Federal Reserve Debt Notes are not gold and silver coins, have no fixed value, and are not even redeemable in silver or gold dollars, Federal Reserve Debt Notes are not dollars or even evidence of dollars.

The so called modern Federal Reserve Debt Note is quite different from the one mentioned in the beginning of the blog, as current Federal Reserve Debt Notes only state; “This note is legal tender for all debts public and private” ( there is not even a period after this statement, proving the statement is not complete.) There is no mention of the note being redeemable in ” lawful money” at the United States Treasury or at the Federal Reserve Bank” and it makes no promise to “PAY TO THE BEARER ON DEMAND” DOLLARS in the amount printed on its face.

There is a vast difference between the two notes as one is redeemable in something of value ( lawful money) and the other is redeemable in nothing except more Federal Reserve Debt Notes. Therefore, Federal Reserve Debt Notes have no value except what they may bring in the market place from day to day.

Are you ready for the next financial collapse America will suffer ? The Big one, The final crash is forthcoming. Are you ready to lose your Nation, your home, the fake banker is coming to collect his 9 Trillion owed, thanks to our mis-leaders and their web of deception. The Federal Reserve Debt Note is floundering, about to go into hyper-inflation as was the plan so many years ago. How to steal a nation from the people who own it, or owned it once.

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