FRNs pre-redemption fail to serve the function of affording the purchaser <direct> access to allodial title or probably even to decent fee simple title. FRNs are clearinghouse certificates of a private, federal clearinghouse. In the context of the Federal Farm among corporations and franchises, they serve little other purpose than FRNs because if the persons cannot attain to allodial title, they don't need US Notes or true sovereignty-backed money.
The Federal Reserve Act comes right into the context of the Securities Exchange Act of 1934 and the like because all of the Wall Street players are actually profiting off of what belong to the peoples' of the several states. I see the Securities and Exchange Act of 1934 and the Investment Company Act of 1940 as rules for the Grand Exchange as to the limitations on what can or cannot be done with the People's Stuff. So maybe the Players are hoping to mass murder the true creditors in the name of Humanitarian Globalism before the creditors get too much wiser?
The public debt being how much the territories owe the Crown/People.