Originally Posted by
RThomas
Rock Anthony,
Sec. 411. Issuance to reserve banks; nature of obligation;
redemption
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.
What you say you accepted is already declared by them as obligations of such ‘United States.’
Exactly! The United States is obligated to pay the debt of those notes. After all, it was the United States that incurred the debt to begin with.
What precisely does your endorsement accomplish ‘at the end of the day’ if you still accept their note of a debt to them (See : Their USC 12 § 414)?
Not an 'endorsement', rather a non-endorsement! I accept notes for which the United States is obligated to pay the debt - not notes for which I am obligated to pay.
At the end of the day, it is ROCK JOHNSON (a US Person) that is accepting the debt obligations. Then Rock Anthony exchanges those obligations of the US for food at the groceries store.
If such ‘United States’ has, as you say, already bonded you to credit (this one notes that you do not specify whose credit you say you are being held to and by whose law), then are you saying they also have power and authority to bind you to debt?
No. I said (perhaps not clearly in my previous post) that the United States bonds itself [not me] to the notes. And in my dealings with the commercial banks, I avoid bonding myself to credit that is created by the banks. At the end day I receive notes that are obligations of the United States - why the heck would I bond myself to newly created bank credit, thereby establishing obligations for myself, when there already exits credit that is bonded by the United States, aka 'lawful money'?
There is bonded credit already available. I receive and use what is already there. Therefore I avoid bonding myself to new credit, which would incur obligations for myself.