Federal Reserve Notes are not money because they don't have any intrinsic value. They cost two cents to make regardless of denomination. That's an obvious shocker to a lot of people - the fact that someone actually makes a 98 cent profit on every dollar bill; a $99.98 profit on every $100 bill.
Presuming it is the government that does this (actually it's not - the Federal Reserve is no more federal than Federal Express - more on that at another time), one might wonder why it (the government) needs so much money in taxes, license & permit fees, citations, fines & penalties and confiscations, and all the other perhaps subtler methods it uses to remove us from our property.
Federal Reserve Notes are negotiable instruments that discharge debt, but they are not money. They are not backed by silver anymore like they were in the days of the silver certificates, nor are they backed by any other commodity that meets the definition of money. The collateral for Federal Reserve Notes is the future labor of the people of the United States as evidenced by the birth certificates. That's a very loaded sentence that we will go into more in a minute, but one of the keywords is future. In other words it doesn't exist now, it may exist later. So Federal Reserve notes are in that category of negotiable instruments called "promises to pay" or promissory notes. They are debt instruments.
In reality, we can't actually pay any debts anymore because all of the real money has been extracted from society. All we can do now is discharge debts. All we have to do it with is fake money or counterfeit money. Are our Dollars, these Federal Reserve Notes, are they counterfeit money?
Any comments? Thoughts? Agree? Disagree?
Posted by Jared Matola of Project Liberty
Tuesday, July 1, 2008
What Is Our Money Really?
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Taxation, though unnecessary in light of legal tender laws (e.g. the Federal Reserve/U.S. government syndicate can print or electronically create as much debt/money as it needs and force creditors to accept it at face value) is primarily a political football. Think how many elections are swayed with montras like "tax relief for the middle class" or "making the rich pay their share."
ReplyDeleteYet if taxation were suddenly abolished, the public would quickly keen to the counterfeit nature of our monetary system; no doubt reparations would be sought for the trillions of dollars of principal and interest swindled from the American taxpayer by Congress and The Fed.
-Greg Miller, CPA
FRNs are absolutely counterfeit money. I agree with Greg's thoughts, if taxation were to go away the game would be up and We Thw People would be able to quickly see through the looking glass to the deception that we have subscribed to.
ReplyDelete'The truth is always hidden in plain sight'