Okay, I guess nobody wants to help me with understanding the remedy. That's fine, but maybe someone can comment on this:

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 authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. 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.

If FRNs are advancements (ie credit) issued at the discretion of the Board of Governors of the Federal Reserve System, then it is an agency of the US that is extending credit to banks through its agents.

This has led me to conclude that the Fed Reserve System is a business entity operated by Congress for the purpose of extending credit in hopes of realizing a gain.

Therefore, national and member banks are participating in the enterprise, re-lending US obligations on ventures of their own, hence income tax reporting requirements and taxes on corporate profit and/or losses.

Since only private credit is changing hands, and persons participating in these transactions are national and member banks, then redeeming the notes would result in no net gain since there is no interest charged or collected on receiving lawful money.

Does this sound like a reasonable conclusion?