Quote Originally Posted by walter View Post
US Notes are redeemable for what?
There is no gold or silver to be redeemed for.
So the only thing they can be redeemed for is coins.
Coins where originally used before paper but people where filing the coins down.
So they made the notes from paper to be redeemed in gold or silver.
Paper has no value so no filing off any value.
So today redeemable for lawful money must be exemption status because you are getting nothing back when you redeem bank notes.
My take was that they would be redeemed with FRNs dollar for dollar. I will attempt to ask them.