Originally Posted by
martin earl
Just a thought, maybe redeemed lawful money is 'taxable' (meaning there is an obligation to pay tax on it). The only thing that makes sense to me right now is this: the obligation to pay any tax or obligation once demand for redemption is made remains with the issuer of the note who created the obligation ab initio.
The endorsers of FRNs (or fractionalized credit/currency) are obliged to pay any taxes on it so long as I restrict my endorsements properly.
EDIT TO ADD: I personally believe there are fees owed, after all, Federal Reserve Credit is issued to be paid at face value in goods and services, plus interest, only endorsers of that agreement (contract) may be obligated to pay in goods and services.