Quote Originally Posted by David Merrill View Post
Great questions Earthshake;
Hi David,

I thought that "lawful money" was the correct phrase for the opposite of FRN's/private credit? What should I be calling it - US Notes or...?

If credit on account isn't taxable income, when does it become so? When you spend it or withdraw it?

What I was getting at with my original questions is, if I endorse my checks as mentioned in your video, will my bank be able to give me US Notes instead of FRNs?

thanks!
earthshake