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Think Those Are Dollars In Your Wallet? Think Again
by Simon Black on July 29, 2013
July 29, 2013
Kiev, Ukraine
Here’s a question– if you’re in the Land of the Free, do you think those green pieces of paper in your wallet are dollars?
They’re not. A US dollar was defined by the Coinage Act of 1792 as 416 grains of standard silver.
No, those green pieces of paper are Federal Reserve notes. “Notes” in this case meaning liabilities to the central bank of the United States.
That makes you, me, and anyone else holding those green pieces of paper essentially creditors of the Federal Reserve, whether we signed up for it or not.
As we explored on Friday, the Fed is theoretically like any other business. On one side of its balance sheet, it has assets. On the other side, it has liabilities.
The Fed is unique, though, in that its liabilities– namely Federal Reserve Notes– are passed off as money in the Land of the Free.
And they have a legal monopoly in this money business. Just ask Bernard von NotHaus, the founder of Liberty Dollar who was labeled a domestic terrorist and convicted for minting silver coins to be used as a competing money.
Moreover, the Fed has the ability to increase its liabilities at will. Mr. Bernanke can conjure additional Federal Reserve notes out of thin air and pump them into the system.
And at this point, thanks to a long-standing policy of wanton money printing, the Fed has more liabilities than ever before in its history. By an enormous margin.
This precarious balance sheet is dangerous, because if the Fed goes bust, everyone loses.
in 1933 ,, the USA declared bankrupt.. potus FDR asigned all born at birth a ‘ strawman’ to cover the debt.. called ‘accepted for value ‘..your strawman is evident by your name in all caps like on your checkbook..
you have no debt.. you were born naked an clear..
the govmnt is beholden to you for sovreignty .. cause the USA is still bankrupt since 1933 an never claimed out of bankrupt..
suppose-id-ly ,, you can get you debt,, as in mortgage,, paid off by filling out a ‘ accepted for value ‘ form .. an mailing it in..
No consent No contract.
Spend it on seeds, food, water, silver, anything of intrinsic value.
1. Issuance of Federal Reserve notes; nature of obligation; where redeemable
Federal reserve notes,:
to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are hereby authorized.
http://www.federalreserve.gov/aboutthefed/section16.htm
All your debt 100% of it is the responsibility of the US government (Taxes are only for public officials) yes everything you know is fraud, perpetrated by lawyers.