By "redeem your paychecks," do you mean endorsing them similarly to the examples I have seen here. And, if so, how is that redeeming?
By "redeem your paychecks," do you mean endorsing them similarly to the examples I have seen here. And, if so, how is that redeeming?
The best place to start is to understand how money is created. The US Treasurer exchanges debt notes with the Federal Reserve System in exchange for credit (numerical deposit into a bank account) - this whole process relies on your endorsement.
Last edited by Richard Earl; 01-01-12 at 04:12 AM.
I look at redeeming as the opposite to endorsing. The examples around here would be a non-endorsement or redemption. To redeem lawful money, you simply need to make a demand.Originally Posted by freedave
Last edited by Richard Earl; 01-01-12 at 04:11 AM.
I have some understanding of how how money is created. But how and why does it rely on my endorsement? And what and where is the evidence that it relies on my endorsement?
OK, I have seen "non-endorsements" here for checks in the form of stamped or hand-written statements. How do those statements create the effect of redeeming FRN's for lawful money? And how do they make a demand? And in what way does making a demand create the effect of redeeming FRN's for lawful money?
You make the demand on your paycheck and it is done. Now you have lawful money by law. You did not endorse any of it and therefore all the obligations are against the US by the US Treasurer and Secretary's signature bonds on the bills. The reason somebody wisely pointed you to understand how money is made is that is an easy way to understand endorsement;
The Story of Money.
If you endorse your paycheck you approve the bank may lend fractionally and that increase in the money supply is now bonded; by your signature. If you non-endorse your paycheck maybe the bank will lend on it fractionally anyway - at least that is the bank breaking the law, not you. Indications are that the bankers know better because in several instances the suitor's account has been switched to a non-interest bearing equivalent account. If the bank cannot profit from your deposits why should they be giving you an increase called interest?
Thank you, David.
How is putting the following on a check making a demand?
Redeemed in Lawful money
Pursuant to Title 12 USC §411
And according to what evidence does that convert the check to lawful money by law?
If that is not a clear enough demand stamp it:
Lawful Money Demanded Pursuant to Title...
Title 12 U.S.C. §411 is §16 of the Federal Reserve Act.
Thank you, David.
Is it correct that if I were to cash a check at a bank with that on the back, I would be demanding that I receive lawful money instead of Federal Reserve notes?
And if I were given Federal Reserve notes, would they then become lawful money as a result of what I stamped and signed on the back of the check?
Or would what I would put on the back of the check convert only the check received by the bank to lawful money?
And according to what evidence could what I put on the back of the check convert the check and/or the Federal Reserve notes to lawful money?
Mine in blue. The question is not "is lawful money taxable?" Because Rickman proves it can be, the question is: "Who has the obligation to pay the Tax if I am not endorsing it?" Again, the only answer is the original issuer of the debt/lawful money, per 12-USC 411 FR "notes shall be obligations of the United States...".
Nothing is actually "paid" by the use of lawful money, unless and until the US Treasury hands out GOLD coins, at face value, to the issuer of the notes. The key is to understand that obligation rests only on the US Treasury, once you demand redemption of lawful money, if it is not paid, it is not your problem, since you demanded they do their job as trustees of public gold in the amount of 3OO million 'dollars'.
Last edited by martin earl; 01-03-12 at 04:14 PM.
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