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allodial
08-05-15, 04:21 PM
The U.S. Dollar’s Relationship to Gold

The U.S. Dollar’s Relationship to Gold
In the current run up in the price of gold, it is time to reassess how gold really relates to the dollar. One has to remember that gold almost never changes in value. It is the dollar that revalues in relationship to gold. For example, in 1920 a good quality men’s suit could be purchased with a typical $20 gold piece. A similar quality suit today can be purchased with about the same amount of gold.

There is endless discussion regarding officially re-linking the dollar to gold in some manner, but in fact, gold is de facto tied to the dollar, and has been since the birth of the nation. Each time that gold is purchased, the price is different, and reflects the current perceived change in the relationship between gold and the dollar.

The History of the Dollar’s Connection to Gold – An Outline

On April 1, 1792, Congress authorizes the striking of gold coins. The dollar is defined as 24.75 grains of pure gold or $19.39 per troy ounce (480 grains [a troy ounce] divided by 24.75=19.39)

1834 – The gold content of the Eagle ($10 gold) is reduced from 247.5 grains to 23.2 grains, due to the melting of U.S. gold coins in Europe, raising the price of gold to $20.67. The “dollar” (there were no gold dollar coins until 1849) =23.2 grains of pure gold. To confirm this standard, the Gold Standard Act of 1900 defines a “dollar” as 25.8 grains of .900 fine gold or 23.2 grains of pure gold. This dollar, call it Dollar #1 (D-1), isn’t redeemable for gold, it IS gold, since the United States Congress defines the dollar as a specific quantity of gold. Persons who hold U.S. currency, or who have deposits in U.S. banks can immediately convert these instruments into gold in the form of coins.

In 1934, President Roosevelt, attempts to bring the United States out of a economic Depression by devaluing the dollar from 23.2 grains to 13.71 grains of pure gold, essentially devaluing the dollar by 41%. This raises the official price of gold to $35 per troy ounce. This is Dollar #2 (D-2). In addition, the Presidential decree prohibits U.S. citizens who hold deposits, from converting their dollars into D-2 dollars. In the 1950’s, President Eisenhower extends the prohibition to U.S. citizen’s gold holdings outside the United States. D-2 claims are still honored to foreign institutions; therefore the U.S. standard of value is still gold.

1971 – President Nixon declares that the U.S. Treasury would no longer pay D-2 dollars in exchange for dollar claims. Gold is soaring in Europe.

1971 – Only Federal Reserve Notes are printed. The obligation, the promise to pay, is removed from the notes. Though the term “note” implies a promise to pay something, Federal Reserve Notes now represent nothing. Today’s dollar is completely fiat money.

1973 – Congress creates Dollar #3, 12.63 grains of pure gold and in 1974, Dollar #4, 11.37 grains of pure gold. Both D-3 and D-4 are fictional as no gold coins are coined, nor is any gold available to pay dollar claims.

One could say that the dollar, though no longer gold, represents a claim on real things in the market place. This is flawed thinking. A unit of account that has no anchor tends to devalue over time, sometimes rapidly. This has been proven in the history of the D-4 dollar since 1971. The rapid run up in real estate prices, gold, commodities and numismatic coins show that people are willing to exchange more and more fiat dollars for other things that maintain real value. Saving fiat money as a store of value is certainly foolhardy.

More/source: The U.S. Dollar’s Relationship to Gold (http://coinsite.com/the-us-dollars-relationship-to-gold/)

Brian
08-06-15, 04:19 AM
Whatever the dollar was, it is no longer that. As bad as it is the only dollars in general circulation that have any value are these:
http://www.marketoracle.co.uk/images/UScoins.jpg

It ain't much but it is something: http://www.coinflation.com/

The only way IMO to walk back what has occurred in the last 100+ years is to force payment in current coin, with the seigniorage being used to extinguish T-bills. However that is very unlikely to happen as that would require discipline that the government does not have. Plus it would be violently opposed by the banks who want to continue issuing their poison coupons aka FRN's.

So it will likely just implode and the whole system will have to be rebooted. So prepare for the later and keep fighting for the former.

David Merrill
08-09-15, 06:59 AM
It seems that in the world it is primarily Americans who value debt.

shikamaru
08-09-15, 07:16 AM
It seems that in the world it is primarily Americans who value debt.

Gold is the currency of kings.
Silver is the currency of gentlemen.
Copper is the currency of peasants.
Debt is the currency of slaves.

Chex
08-10-15, 03:17 AM
Posted by shikamaru Gold is the currency of kings. Silver is the currency of gentlemen. Copper is the currency of peasants. Debt is the currency of slaves.


Posted by David Merrill It seems that in the world it is primarily Americans who value debt.
Why We're Not Returning to a Gold Standard http://www.cbsnews.com/news/why-were-not-returning-to-a-gold-standard/

Here's another problem: Any country with investments in the United States could demand its gold at any moment. That's what happened in 1971. For years, the price of gold had been fixed at $35 an ounce. Finally, the British ambassador asked that $3 billion of the United Kingdom's investments be converted into gold. The United States soon went off the gold standard. http://www.slate.com/articles/business/moneybox/2010/11/gold_rush.html

Last Updated Apr 12, 2010 3:46 PM EDT Protected by a 109,000-acre U.S. Army post in Kentucky sits one of the Federal Reserve's most secure assets and its only gold depository: the 73-year-old Fort Knox vault. Its glittering gold bricks, totaling 147.3 million ounces (that's about $168 billion at current prices), are stacked inside massive granite walls topped with a bombproof roof. Or are they? http://www.cbsnews.com/news/is-there-gold-in-fort-knox/

youtube (https://youtu.be/9MbRrXkrYNs?t=1493)

But Greenspan's Stunning Admission: "Gold Is Currency; No Fiat Currency, Including the Dollar, Can Match It" (https://www.google.com/search?q=Greenspan's+Stunning+Admission%3A+%22Gold +Is+Currency%3B+No+Fiat+Currency,+Including+the+Do llar,+Can+Match+It%22&sourceid=ie7&rls=com.microsoft:en-US:IE-Address&ie=&oe=)

shikamaru
08-10-15, 10:00 AM
....

Here's another problem: Any country with investments in the United States could demand its gold at any moment. That's what happened in 1971. For years, the price of gold had been fixed at $35 an ounce. Finally, the British ambassador asked that $3 billion of the United Kingdom's investments be converted into gold. The United States soon went off the gold standard. http://www.slate.com/articles/business/moneybox/2010/11/gold_rush.html

....

Note your usage of the term 'fixed'.

Valuing metals by paper is a slippery game. Expect the board to shift when conditions warrant, whether by greed or exigent circumstances.

Chex
08-10-15, 04:32 PM
Your correct. The statutory price of gold is set by law. It does not fluctuate with the market price of gold and has been constant at $42 2/9, or $42.2222, per fine troy ounce since 1973. The book value of the gold held by the Treasury is determined using the statutory price. Source http://www.federalreserve.gov/faqs/does-the-federal-reserve-own-or-hold-gold.htm

The underground of any city is fascinating (http://untappedcities.com/2014/10/31/6-underground-vaults-of-nyc-federal-reserve-gold-vault-archaeological-repository-van-cortlandt-park/)

American_National
07-03-16, 08:07 AM
But Greenspan's Stunning Admission: "Gold Is Currency; No Fiat Currency, Including the Dollar, Can Match It" (https://www.google.com/search?q=Greenspan's+Stunning+Admission%3A+%22Gold +Is+Currency%3B+No+Fiat+Currency,+Including+the+Do llar,+Can+Match+It%22&sourceid=ie7&rls=com.microsoft:en-US:IE-Address&ie=&oe=)

Most Interesting . . . It would be really great to obtain a regulatory reference requiring the Federal Reserve system cartel to regard "Gold as Currency", especially in light of the FACT that the board of Governors of the foreign/private Federal Reserve system cartel are required to produce sufficient quantities of their acquired "gold certificates" at times and in amounts the appointed delegate of the Secretary of the Treasury decides are necessary to MAINTAIN the EQUAL PURCHASING POWER of each kind of United States currency . . . Which means that FRN's are considered to be a form of United States currency . . .

Why else would the foreign/private Federal Reserve system cartel be required to redeem their own "gold certificates" to prop-up the purchasing power of various forms of U.S. issued currency notes/coins/securities???!!!???

I believe that the answer is simple: the Federal Reserve system cartel is solely responsible for keeping the purchasing power of their elastic currency "notes" at par with various other forms of U.S. issued currency.

Title 31 U.S.C. §5119. Redemption and cancellation of currency
(a) Except to the extent authorized in regulations the Secretary of the Treasury prescribes with the approval of the President, the Secretary may not redeem United States currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) in gold. However, the Secretary shall redeem gold certificates owned by the Federal reserve banks at times and in amounts the Secretary decides are necessary to maintain the equal purchasing power of each kind of United States currency. When redemption in gold is authorized, the redemption may be made only in gold bullion bearing the stamp of a United States mint or assay office in an amount equal at the time of redemption to the currency presented for redemption.

Here's further proof of this fact showing where the U.S. Congress has repealed portions of 48 Stat. 112 [HJR-192] and is no longer liable to assure uniform value (equal purchasing power) to those foreign/private elastic-currency commercial-paper FRN's . . . that duty has now become the joint responsibility of the foreign/private Federal Reserve system and the designated delegate of the Secretary of the Treasury as detailed above in Title 31 U.S.C. §5119:

91 Stat. 1229, Enacted Oct. 27, 1977, Public Law 95-147 at subsection (c):
(c) The joint resolution entitled "Joint resolution to assure uniform value to the coins and currencies of the United States," approved June 5, 1933 (P. L. 10 48 Stat. 112; 31 USC 463), shall not apply to obligations issued on or after the date of enactment of this section.


1. If the Federal Reserve Board of Governors are required by international treaty/agreement and/or federal-venue statute to recognize a certain range of weights and fineness of gold as a specie of tangible "Currency", and;

2. The U.S. Congress has authorized and established the standard of weight, fineness and dollar-unit value in the money of account for the United States for each of the Gold bearing Coin(s) described in federal-venue Title 31 U.S.C. §5112 (a)(7..10), and;

3. The U.S. Congress has also authorized and established the standard of weight, fineness and legal tender value expressed in "$50" increments for such U.S. minted and issued Gold bullion bearing Coin that is authorized and described in federal-venue Title 31 U.S.C. §5112 (a)(11), and;

4. The U.S. Congress has authorized and established that each of these U.S. minted and issued §5112(a)(7..11) Gold bearing/bullion Coins shall be a "legal tender" as described in Title 31 U.S.C. §5112(h), and;

5. The U.S. Mint and Secretary of the Treasury has been ordered by the U.S. Congress to Mint and to issue a range of these (Constitutionally compliant, Article 1, Section 10, Clause 1) described Gold Coins to meet the needs of the United States, and;

6. The Secretary of the Treasury must also, by international treaty/agreement and/or federal-venue Statute also recognize those federal-venue Title 31 U.S.C. §5111(a)(1) and §5112(a)(7..10) U.S. minted and issued Gold Coin as a form of "monetary reserve" currency of the U.S., and;

Title 31 U.S. Code § 5111 - Minting and issuing coins, medals, and numismatic items
(a) The Secretary of the Treasury—


(1) shall mint and issue coins described in section 5112 of this title in amounts the Secretary decides are necessary to meet the needs of the United States;


Title 31 U.S. Code § 5112 - Denominations, specifications, and design of coins
(a) The Secretary of the Treasury may mint and issue only the following coins:


(7) A fifty dollar gold coin that is 32.7 millimeters in diameter, weighs 33.931 grams, and contains one troy ounce of fine gold.
(8) A twenty-five dollar gold coin that is 27.0 millimeters in diameter, weighs 16.966 grams, and contains one-half troy ounce of fine gold.
(9) A ten dollar gold coin that is 22.0 millimeters in diameter, weighs 8.483 grams, and contains one-fourth troy ounce of fine gold.
(10) A five dollar gold coin that is 16.5 millimeters in diameter, weighs 3.393 grams, and contains one-tenth troy ounce of fine gold.

(11) A $50 gold coin that is of an appropriate size and thickness, as determined by the Secretary, weighs 1 ounce, and contains 99.99 percent pure gold.




Payment is authorized in U.S. minted and issued Gold (or Silver) Coin as reauthorized by the U.S. Congress since October 27, 1977 , Pub. L. No. 95-147, § 4(c), 91 Stat. 1227, 1229. This amendment made clear that parties could include "gold clauses" in their contracts formed after 1977, and this fact is presently described/authorized and codified in federal-venue Title 31 U.S.C. §5118 (a)(1)(B..C) & (d)(2) as shown below.

Checks/drafts are a "medium of exchange" instrument that is not "United States currency" . . .

Title 31 U.S. Code § 5118 - Gold clauses and consent to sue
(a) In this section—


(1) “gold clause” means a provision in or related to an obligation alleging to give the obligee a right to require payment in—


(A) gold;
(B) a particular United States coin or currency; or
(C) United States money measured in gold or a particular United States coin or currency.

(d)


(1) In this subsection, “obligation” means any obligation (except United States currency) payable in United States money.
(2) An obligation issued containing a gold clause or governed by a gold clause is discharged on payment (dollar for dollar) in United States coin or currency that is legal tender at the time of payment.
This paragraph does not apply to an obligation issued after October 27, 1977.

Given each of the above shown regulatory facts, shouldn't we be making our Notice/Demand for the use of Lawful money in each of our transactions very specific like the example shown below - because it appears that we currently have the choice of specie available to us in transacting our checks/drafts at Federal Reserve affiliated member banks?

The front of the check/draft plainly says: Pay to my order (not to the bank teller's order) in transacting it . . . .

************************************************** **
Payee orders payment made in the specie of Title 31 U.S.C. §5112(a)(7..10)
U.S. issued lawful money of value in legal tender dollar-units ONLY; redeemed
at par per ch. 6, 38 Stat. 251, Sec. 16 of the Federal Reserve Act of 1913,
presently codified in Title 12 U.S.C. §411.


By demand: __________________________________, Payee
(transacting absent accommodation is authorized per U.C.C. 4-205)

************************************************** **

Also - here are a few federal court cites that support the above:

[ compare to: "Paper currency, in the form of the Federal reserve note, is defined as an "obligation of the United States" that may be "redeemed in lawful money on demand." 12 U.S.C. §411 (2002). These bills are not "money" per se but promissory notes supported by the monetary reserves of the United States”. UNITED STATES of America –vs- Thomas 319 F.3d 640 (2003)


“When the words of a statute are unambiguous, the first canon of statutory construction – that courts must presume that a legislature says in a statute what it means and means in a statute what it says there – is also the last, and judicial inquiry is complete.” Connecticut National Bank v. Germain, 503 US 249, L. .Ed 2nd 391 (1992) ]


What are your (and other forum members) thoughts in regard to the above?

American_National
07-03-16, 05:56 PM
In continuing with the above (10000 character limit on replies) . . .

Since the U.S. Congress placed the entire monetary and taxation system under the Uniform Commercial Code (U.C.C.) back in 1966, There can be no refusal in affiliated financial institutions transacting such checks/drafts absent an accommodation endorsement.

“The entire taxing and monetary system are hereby, placed under the UCC.” 80 Stat. 1125, Pub. L. 89-719, Nov. 2, 1966 - Federal Tax Lien Act of 1966

Uniform Commercial Code › U.C.C. - ARTICLE 4 - BANK DEPOSITS AND COLLECTIONS (2002) ›
PART 2. COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS
§ 4-205. DEPOSITARY BANK HOLDER OF UNINDORSED ITEM.
If a customer delivers an item to a depositary bank for collection:
(1) the depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer indorses the item, and, if the bank satisfies the other requirements of Section 3-302, it is a holder in due course; and

(2) the depositary bank warrants to collecting banks, the payor bank or other payor, and the drawer that the amount of the item was paid to the customer or deposited to the customer's account.


As plainly shown above, Section 4-205 of the U.C.C. protects our right to abstain from such inducements without compromising our ability to transact such check/draft mediums of exchange.

Furthermore, U.C.C. Section 3-401 also states that: A signature is defined as something which may be made
a) manually or by means of a device or machine, and

b) by the use of any name, including a trade or assumed name, or by a word, mark, or symbol executed or adopted by a person with present intention to authenticate a writing.


Thus, although in order for an item to be payable it could have a signature, the U.C.C. definition above makes clear that it doesn't just mean a typical handwritten rendition of the payee's name. It's much broader than that.

For example, the words, marks, instructions or symbols that the payee places on the signature line of the check/draft would arguably be deemed to have been adopted by the payee with the present intention to authenticate their writing or instruction.

Whereas, Contract originates as a natural event and first requires a meeting of the minds . . . our decision to contract or not to contract is premised on the nature and consideration of the offer. What is the nature and substance of their "offer"? What benefit/consideration is gained by me, you or anyone in exchange for our becoming an accommodation party to their commercial-paper? Each of us has the unlimited right NOT TO ELECT/ACCEPT to participate in their commercial-paper e/indorsment under the right and law of Contract which is in fact CHOICE!

“An agreement [franchise, contract]obtained by duress, coercion, or intimidation is invalid, since the party coerced is not exercising his free will, and the test is not so much the means by which the party is compelled to execute the agreement as the state of mind induced.” Brown vs. Pierce, 74 U.S. 205, 7 Wall 205, 19 L.Ed. 134

By what delegation of authority does any of these various foreign/private Federal Reserve system cartel-affiliated financial institutions have any right to administrate or interfere with my property by choosing what specie(s) of "lawful money" of value or U.S. issues of statutory authorized forms of "legal tender" currency I must accept in their transacting the check/draft medium of exchange currently placed before them??? . . . and most importantly - how am i, a man made subject to any such delegations of authority absent my consent???!!!???

I find no tangible "value" and/or "store of value" [wealth] acquired by anyone who engages in the acceptance, transfer and use of such "commercial-paper" FRN's that presently have about 4.5-5.5% of the purchasing power required to successfully obtain the Title 31 U.S.C. §5112(a)(7..10) authorized and U.S. minted/issued Gold (and Silver) Coined dollar-unit counterparts . . . so make your demand for the use of "lawful money" in all transactions known!

Such repudiation/default of my written order combined with compelling my acceptance of their own choices of "legal tender" in such actions of repudiation/default - would be an "instant" theft of value at the time they transacted the instrument as well as an ongoing theft of the "store of value" (wealth) by their failure in properly filling my order as written!

Since the U.S. Congressional re-authorization of "Gold Clause" payable contractual obligations in October, 1977 - Where has federal-venue judges been granted any delegation of authority or right to override the standard of fineness, weight and dollar-unit value in the money of account of the United States that has been fixed/established by the U.S. Congress for such Title 31 U.S.C. 5112(a)(7..10) defined U.S. minted and issued Gold bearing dollar-unit Coins?

The market within this Nation "adjusts" the cost of goods/services to the fixed standard of dollar-unit "value" established by the governing regulatory authority - the standard of dollar-unit "value" does not dynamically change from moment to moment to "chase" the cost of goods/services within a national market . . .


"All experience shows that a currency not redeemable promptly in coin, but dependent on the credit of a promissor whose resources are rapidly diminishing, while his liabilities are increasing, soon sinks to the dead level of worthless paper." Hepburn v. Griswald, U.S. Supreme Court, 8 Wall 634

“A promise to pay, with a reserved right to deny or change the effect of the promise, is an absurdity." Murray v. City of Charleston, 96 U.S. 432

Just writing about this ongoing pervasive "theft of value/wealth" commercial-paper charade imposed upon "We, the People" and our posterity (children and grandchildren) living and working within this Nation makes me angry beyond belief . . . :mad:

David Merrill
07-03-16, 09:53 PM
Thank you for posting!!

walter
07-04-16, 03:57 PM
It seems that in the world it is primarily Americans who value debt.

And this is the reason why there is no more factory's and manufacturing in the USA any more.
Once the USA joined the UN it moved into selling FRN's to the world as a valuable commodity.
In order to be of value to the rest of the worlds countries it needed to have top purchasing power while being stable. Otherwise why hold them?

When a county is placed in this position and has the highest value currency manufacturing becomes to expensive for other countries to purchase from.
All the free trade deals means to the USA is that the USA banks can sell their currency and set up shop in foreign jurisdictions.
USA has nothing else of value that the rest of the counties can afford with out making it them self or purchasing it from another country cheaper then the USA can make it.

Being the world's leader in selling dollars inc. chocks a society to be the only thing the society has of value to sell. And it is debt based. Go figure.

Eg. Vancouver BC. real estate is going through the roof and forcing many to leave the city because they can't afford to live there any more.
Reason being? The dollar is low and China and American buyers are investing heavy in foreign markets.
When there is a big difference between currency like 20 to 30% (Canada to USA) cross border shopping slows right down from Canadians buying in the US. The majority of the traffic is reversed.
Americans are taking their most valuable possession being FRN's and investing in foreign jurisdictions.
How does that help out the average American? It doesn't. Only the rich.

American_National
07-04-16, 09:18 PM
Thank you for posting!!

Thank you for your reply David. :-)

I'm trying to engage a community "think/input" process related to more rapidly reducing that portion of our Nation's debt that is currently payable to this foreign/private Federal Reserve system cartel...

In following the evidence/fact trail related to my two earlier posts:

1. The Federal Reserve system and their various affiliated member financial institutions function as a foreign and private international banking/credit cartel.

"Some people think the Federal Reserve Banks are United States government institutions, they are not government institutions, they are private credit monopolies." Congressional

Record, June 10, 1932, p. 12595



"The Federal Reserve Board, and the Federal Reserve Banks are private Corporations." Congressional Record, Jan. 24, 1934, p. 1293



"Federal reserve banks are not federal instrumentalities for purposes of a Federal Tort Claims Act, but are independent, privately owned and locally controlled corporations in light of

fact that direct supervision and control of each bank is exercised by a board of directors. Federal reserve banks, though heavily regulated, are locally controlled by their member banks,

banks are listed neither as "wholly owned" government corporations nor as "mixed ownership" corporations; federal reserve banks receive no appropriated funds from Congress and

the banks are empowered to sue and be sued in their own names." Lewis v. United States, 680 F.2d. 1239 (1982)

2. Given Chex's earlier post/youtube link [Thanks Chex! :-)] regarding the foreign/private Federal Reserve cartel's public admission by Allen Greenspan, as their currently sitting Chairman (at that time) that: "Gold is Currency; No fiat currency, including the "dollar" , can match it" . . .

[I]“What is a dollar? It's just something artificial we throw out there. What you're doing is you're fooling people into thinking they have purchasing power, when in fact they do
not.” Denis Karnofsky, Chief Economic Advisor, St. Louis, St. Louis Federal Reserve Bank (June 10, 1978)

The Federal Reserve cartel Admits that "Gold" bullion is the most concentrated specie of tangible value "currency" to their foreign/private Federal Reserve system international banking/credit cartel.


3. The fact that Gold (and Silver) Coin are Constitutionally compliant (Article 1, Section 10, Clause 1) forms of such [foreign/private Federal Reserve cartel acknowledged/recognized] "currency" of value suitable for the actual payment (extinguishment) of such debts . . . In this Nation, all Constitutionally secured rights and prohibitions stand on their own, and need no further defense!

“The term "dollar" means money, since it is the unit of money in this country, and in the absence of qualifying words, it cannot mean promissory notes or bonds or other evidences of debt.
The term also refers to specific coins of the value of one dollar.” (27 Ohio Jur pp. 125, 126, §3), United States vs. Van Auken, 96 US 366, 24 L.Ed. 852 [American Jurisprudence, Volume 36, §8

The Constitutional operating agreement forming the National government decrees that the species of "Gold" and "Silver" bearing Coin are forms of tangible value suitable for paying debts.


4. Various federal-venue courts + territorial tax court rulings have historically demonstrated that all such Gold (and Silver) bearing Coins (including those various U.S. minted/issued Gold (and Silver) bearing coins) that can be effectively connected with the conduct of a federal-venue insurance/benefit program "covered" trade or business activity performed anywhere in the world - are being valued and assessed by these courts at their precious metal "market value" as though they were "foreign Gold/Silver bearing coins", and as such - are subsequently being excise (benefit/privilege) taxed for interest payments on the Federal debt according to the current international "market value" of their Gold/Silver precious metal content expressed in the unit symbol of "$" instead of the actual "dollar-unit" value established and authorized by the U.S. Congress that has been affixed by impression upon the face of all such U.S. minted and issued Gold (and Silver) bearing dollar unit coins . . .

"Resistance to additional income taxes would be even more widespread if people were aware that . . .100 percent of what is collected [in income tax] is absorbed solely by interest on the Federal debt . . . .[supra, n. 35] In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government." - J. Peter Grace, “President's Private Sector Survey on Cost Control: A Report to the President,” dated and approved January 12 and 15, 1984

5. Enforcement of contracts containing "Gold clauses" has been reauthorized by the U.S. Congress since October 1977 (see my previous post of: Title 31 U.S.C. 5118(d)(2) - Gold Clauses and consent to sue)

6. In light of the fact that checks/drafts are a "medium of exchange" obligation offered by the maker to the payee that expresses a direction in writing to the bank/financial institution for immediate payment of a sum certain in money (as numerically expressed within a box (4 corners rule) shown on the face of the check/draft in units of "$[ ]", or as written out using long-form underlined words expressed in units of "dollars") of my own choosing, and NOT in any specie of the bank/financial institution's own choosing and financial advantage in transacting it . . . shouldn't we be making a very specific demand for payment of the check/draft to be paid in the highest concentration of tangible value specie of U.S. minted and issued dollar-unit Gold Coin possible, like the one described in federal-venue Title 31 U.S.C. §5111(a)(9) - which provides 1/4 troy ounce of Gold for every ten U.S. dollar-units of value?

"A promissory note cannot properly be equated with a check, since a note, even when payable on demand and fully secured, is still only a promise to pay, whereas [B]a check is a direction to the bank for immediate payment, [and] is a medium of exchange . . ." Williams vs. Comm.of the Internal Revenue Service 429 US 569, L Ed 2d 48, 97 Supreme Ct. 850 (1977)

By example:
************************************************** **
Payee orders payment specifically made in the specie of lawful money of value
expressed in U.S. minted and issued legal tender Gold bearing Coin in ten dollar-units
ONLY, as currently authorized in Title 31 U.S.C. §5112(a)(9); redeemed at par
per ch. 6, 38 Stat. 251, Sec. 16 of the Federal Reserve Act of 1913, presently

codified in Title 12 U.S.C. §411.


By demand: __________________________________________________ ___, Payee
(transacting absent my accommodation is authorized per U.C.C. 4-205)

************************************************** **

7. Upon all such repudiation/default of the financial institution in paying the check/draft "medium of exchange" instrument according to our written order (like that shown above) - shouldn't we be photocopying such checks/drafts and using them as supporting exhibits in making a demand for immediate set-off and extinguishment of portions of the National Debt that are currently payable to the foreign/private Federal Reserve system cartel, and base the set-off amount on the precious metal "market value" of such repudiated/defaulted on U.S. minted and issued coins now expressed in "$" as the basis for our offset/extinguishment? As shown in a previous post - the Federal Reserve system has failed to maintain the purchasing power of their commercial-paper notes, not U.S. - so shouldn't the increased debt offset in "$" reflect their failure?

The Bureau of Public Debt is responsible for [B]borrowing the money needed to operate the Federal Government and accounting for the resulting debt.
see: https://www.treasury.gov/about/organizational-structure/offices/General-Counsel/Pages/bpd.aspx

American_National
07-04-16, 10:05 PM
Once the USA joined the UN it moved into selling FRN's to the world as a valuable commodity.
In order to be of value to the rest of the worlds countries it needed to have top purchasing power while being stable. Otherwise why hold them?


Hello Walter, please view the various cites shown on my recent posts in this thread . . .

The “Federal Reserve” system is a privately held foreign corporation formed by an international banking/credit cartel based out of London, England.

"Some people think the Federal Reserve Banks are United States government institutions, they are not government institutions, they are private credit monopolies." Congressional
Record, June 10, 1932, p. 12595

"The Federal Reserve Board, and the Federal Reserve Banks are private Corporations." Congressional Record, Jan. 24, 1934, p. 1293

"Federal reserve banks are not federal instrumentalities for purposes of a Federal Tort Claims Act, but are independent, privately owned and locally controlled corporations in light of
fact that direct supervision and control of each bank is exercised by a board of directors. Federal reserve banks, though heavily regulated, are locally controlled by their member banks,
banks are listed neither as "wholly owned" government corporations nor as "mixed ownership" corporations; federal reserve banks receive no appropriated funds from Congress and
the banks are empowered to sue and be sued in their own names." Lewis v. United States, 680 F.2d. 1239 (1982)

Although their commercial-paper notes are printed by the Bureau of Engraving and Printing ran by the U.S. federal government, said notes are "issued" by the board of governors of the Federal Reserve banking cartel (See Title 12 USC 411).

Said notes are the direct liabilities of the various district Federal Reserve district banks issuing them and represent a first and paramount lien on the assets of such banks.

The said notes are also the indirect "obligations" of the United States (due to the federal-venue treasury notes, bonds, certificates of public indebtedness, etc. used to collateralize their issue).

The principal cartel members comprising the foreign private “FEDERAL RESERVE” system Central Banks are as follows:

Rothschild Bank of London, Warburg Bank of Hamburg, Rothschild Bank of Berlin, Lehman Brothers of New York, Lazard Brothers of Paris, Kuhn Loeb Bank of New York,
Israel Moses Seif Banks of Italy, Goldman, Sachs of New York, Warburg Bank of Amsterdam, Chase Manhattan Bank of New York.

These same international cartel members are also principal members of the two international commercial arms that were established by the U.N. at the end of WWII for the collection of war debts and loans to developing member nations.

You presently recognize them as "The International Monetary Fund" (IMF) and "The International Board of Reconstruction and Development" (IBRD)... which most developing countries have grown to HATE being involved with!!!

You can see how ineffective their intangible "commercial-paper" debt-note system of credit advances made in exchange for principal and interest payments in tangible-value "Gold bullion" based currency is on a world-wide stage . . .

For a recent example - look at what is presently happening in Europe with their IMF/IBRD backed "Euro" paper currency . . . its purchasing power is gradually diminishing over time as all fiat currencies eventually do . . .

This erosion of purchasing power is one of the many reasons why the people of Great Britain recently voted in favor of beginning the process to "exit" the European Union. . . BREXIT

David Merrill
07-05-16, 12:38 AM
What is the timeline for Britain's involvement with the EU?

As I recall Britain stayed out of it for many years??

American_National
07-05-16, 01:35 AM
They did abstain for many years due to the initially small number of member E.U. "states" . . . There were only five.

Great Britain became a "member state" of the European Union on Jan. 1, 1973.

Ireland and Denmark also joined Britain in becoming the newest members of the community, bringing the total number of "member states" to nine.

allodial
07-05-16, 04:14 AM
What is the timeline for Britain's involvement with the EU?

As I recall Britain stayed out of it for many years??

Something to do with an act to do with European Communities. However a big thing is that it may have only ever been signed by the Prime Minister. There is a substantial number of people asserting along these lines: [1] that UK did not constitutionally become a EU member since the people never voted on the matter.. [3] the Queen failed to intervene adequately and so may have abdicated or perpetrated dereliction of duty..[4] UK courts won't adjudicate the matter and say its a "political matter" (IMHO that probably means they know its a voluntary and territorial jurisdictional matter but don't want to explain that on the record)..[4] the EU'ers tricked/deceived the UK and other countries by turning what was supposed to be a purely economic union into a political union. Nigel Farage is highly knowledgeable about this and has written many books on the EU.


https://www.youtube.com/watch?v=MlN9o3g-yuA

That is, from analysis the EU membership of the UK may only carry the weight of an executive agreement: TERRITORIAL JURISDICTION ONLY.

P.S. Its been almost 70 years since 1948.

walter
07-05-16, 05:21 PM
@ American_National,
you might like to read this for some entertainment.

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=47937

Christopher Theodore
11-07-17, 02:18 AM
It seems that in the world it is primarily Americans who value debt.

There is a growing interest in valuing knowledge & education.. after a year the Congressional Order 101 initiative did not supernova (https://www.urbandictionary.com/define.php?term=Supernova) like I had hoped (it's a bit more difficult of a paradigm shift than I has thought it would be), but the critical mass is building. Maybe it has to do with polishing the abstract a bit more:

CongressionalOrder101.WordPress.com (http://CongressionalOrder101.wordpress.com)

I think people will find using debt-free assets much better than debt based assets once they realize there is a viable choice... if only there was enough gold & silver physically in existence on Earth to return to the Gold Standard.. but alas, there is only about 1 oz gold and 12 oz silver per person on Earth. I suppose it could be possible to restate the value of gold by manipulating the weights and measures so that .001 grains of gold = $100 US Dollars or other things people have proposed.. but gold & silver are not the only assets that are fit to be represented by the money supply. Besides, with technological advances, gold & silver are much more useful not being buried in vaults after being mined out of vaults of stone... and if there is any truth to usefulness of something adding to it's value, then the value of gold & silver will change once it is being used for something other than the medium of exchange.

None the less, like gold & silver being used as the assets to back the currency, measured amounts of knowledge and education are also debt free assets, and lawful money backed by these assets is redeemable with the graduate.

Truth be told, using knowledge & education as the asset to back currency is better than gold & silver because the currency can be redeemed over and over throughout the life of the graduates.

4995



Granted, some people may wonder about the Constitutionality of doing what the CO 101 initiative is proposing:

4996


Magnanimously,

Christopher Theodore of the family of RHODES

P.S.

David Merrill, you will have to forgive that I did not make the juxtaposition of lawful money with private credit more obvious in the Abstract and Articles at the CO 101 site (but did make a brief mention in the actual Order. The paradigm shift is already a bit complicated and I didn't want to digress into it too deeply... I did however make it very clear that the assets are going to be accounted for on the general public ledger of the Treasury, not the Federal Reserve Bank... credit on account is far older a form of money than metal tokens representing commodities in the warehouse of a city state... so those who are familiar with lawful money vs private credit should be able to grasp this was stated indirectly.

4997

Christopher Theodore
11-07-17, 02:49 AM
Kindly forgive the size of those InfoGraphics.. they don't post to FB, Google+, and LinkedIn that large... :-D

David Merrill
11-07-17, 08:10 AM
It is refreshing to find effective fellow geopolitical biosocial engineering. Thank you for all that work.

Christopher Theodore
11-07-17, 08:20 PM
The money of account on the general public ledger of the Treasury seemed to be one of the 4 U.S. Dollars, and was seeming to be neglected a bit in this thread. People seem to forget that metal tokens were never the only form of lawful money issued by the Treasury, or authorized by the Constitution to be issued by the Treasury. By diminishing the credits on the ledgers and converting them into Bills of Credit with an equal face value, money of account is converted into money of exchange.

Research into the general public ledger of the Treasury should evidence that gold & silver were never the only assets being accounted for, or being used in sustaining the face value of Bills of Credit (measures of land were often used as such an asset, for example). The best evidence I can provide to sustain this fact, that I have at hand, is a link to the topical content of the Records of the Accounting Officers of the Department of the Treasury (https://www.archives.gov/research/guide-fed-records/groups/217.html#217.2) -- indirect evidence, but evidence nonetheless.

Gold & silver Coin were just the most popular with the masses 200+ years ago because most people couldn't even do basic math, much less comprehend book-keeping and it was well known even then that counterfeiting paper tokens has always been much easier than metal tokens... which is why coin became so popular thousands of years ago.

Further, the several States were limited to only dealing with gold and silver Coin because the creation of money of account & Bills of Credit needed to be confined to a single ledger and source, not many. Too much ledger fraud is possible and monitoring for it needed to be kept as simple as possible.


It is refreshing to find effective fellow geopolitical biosocial engineering. Thank you for all that work.

Creating and planting the seeds is only a part of the Work (as you well know, David and friends), hopefully it bares the fruits intended... which is not the money, but the global evolution of all educational systems to a point where it will be possible for all people to more easily seek any type of knowledge they wish to learn and for all teachers and the staff of the schools to be compensated for their services.

We have seen time and again that when a Nation implements a K-12 type of system making it possible for everyone in the society to hold the bulk of the Wealth of Knowledge of that society, that society vastly improves for everyone. Likewise, to make that possible for all higher education will have similar results. Were this to happen globally, the entire human race will make a profound evolutionary step that I can barely imagine, much less describe with words. Consider people holding many different degrees (including trade school certifications), for example, a Certified Welder/Machinist with a Structural Engineering & Architectural Degrees will create buildings far superior to what are created now. Anyways...

A dear friend of mine once talked about a house that was in such disrepair that it rightly should have been condemned, but people still lived in the house. And, while the house was a somewhat toxic, being homeless in the harsh environment would likely kill most of the inhabitants. He pointed out that the best way to deal with such a situation is not to evict them all and condemn the house, but to repair the house, and; if that is not possible, find an old house in good standing (or repair it, or to build a new house) for them to move into before condemning the old house and demolishing it. Fixing up old houses is usually the path of least resistance, and quicker, even though new houses are what is Ideal and desired but lack of labour becomes an issue.

On a similar, but somewhat different note, when people are discussing things like "End the Fed" and the like, I often think to myself,

"What a waste of time and energy. That time and energy would be better spent re-empowering the Treasury. Once that is done, many problems most people have with The Fed (and central banking), will likely not even be problems any more, and if they are, the means to slowly "phase out" The Fed are now in existence."

Were The Fed to just be gone tomorrow, it would be like everyone in the Matrix just getting flushed into the ocean, and there would not be enough rescue crews to save you all. Sure, you would all be unplugged and free from the "Matrix"... for a few minutes (and some would obviously survive), but there is a better way even if it may take a bit longer. Besides, some people love the Matrix, and who are we to dictate to them they can not have that? It is the path of least resistance to create something better, and leave them to chose. I do not take alienating freewill lightly.

Further, the ability for people to borrow money into existence, while doing this almost exclusively has fatal economic flaws, has actually made many things possible that would not have been possible otherwise. I am not sure if it should be completely eliminated, and the issue of interfering in the obligation of lawful contracts (I am aware many lack a meeting of the minds and are void, nonetheless), is not currently lawful at this time.

It was only advocated back in the day, "Neither a lender nor borrower, be," but it was not forbidden. Freewill..

Christopher Theodore
11-08-17, 11:03 PM
Whatever the dollar was, it is no longer that. As bad as it is the only dollars in general circulation that have any value are these:
http://www.marketoracle.co.uk/images/UScoins.jpg

It ain't much but it is something: http://www.coinflation.com/

The only way IMO to walk back what has occurred in the last 100+ years is to force payment in current coin, with the seigniorage being used to extinguish T-bills. However that is very unlikely to happen as that would require discipline that the government does not have. Plus it would be violently opposed by the banks who want to continue issuing their poison coupons aka FRN's.

So it will likely just implode and the whole system will have to be rebooted. So prepare for the later and keep fighting for the former.

Such a thing is physically impossible: http://numbersleuth.org/worlds-gold/

Maxim of law:

"The law can not require the impossible."