This explains why until there are millions of dollars circulating through a redeemed account the bank is still willing to be trustee.

CROSSTALK:

RE: Extent of transaction based endorsement

Inbox

David Merrill
1:56 AM (19 minutes ago) to: 125 suitors redacted


They are a member bank by a blanket endorsement, not making demand for redemption on the signature card. So you are making demand for lawful money, but from their little bank instead of the big bank.



That is a very complicated scenario. You are not a member bank because of redemption. If you endorse private credit from the Fed, you become a member bank.



What an interesting lesson/scenario! Non-member banks can go to the Fed too. Redeemed banks (suitors) can still bank, but you are banking with a member bank who is not redeemed, because they have a convenient account with an easily recognized member bank. Fascinating.



You can't make this stuff up!



Name: state banks member non-member.jpg Views: 522 Size: 256.5 KB





__________________________________________________ ___

From:
Sent: Tuesday, December 15, 2020 5:29 PM
To: esauphacus@pcisys.net
Subject: Extent of transaction based endorsement



David M.,



I am wondering the extent of utilizing my redemption stamp when a co-signers account is used to cash a tax return check?

Since I am to endorse the check and a fellow family member is signing below my endorsement with their account info, is there a conflict of interest?

Also, I hope you are doing well my friend.



-First Middle.
Interestingly the Return check here is a full refund of withholdings. The suitor functions without a bank account and has found a friend or family member who is willing to help him cash his refund check.

I had never been called to pay attention to how banks have to honor state banks, who are non-members. In 1935 the requirements to become member banks were lowered so that anybody who endorses private credit, by signature on the backside of their paychecks becomes the trustee.



I have always focused on the voluntary nature of the trust. Not how the signatory becomes the trustee. When large amounts of money were being transferred through trust accounts the Bank closed down several accounts saying, "We do not want to be your Trustee."

The trustee is formed constructively through contemplation of breach. The law is for the individual and that denies redemption as everybody has to be redeemed in unity for the tikkun - the Restoration (MESSIAH). Individuals are on their own. Trustees are always TRUSTEE.