Basis in Law

[American_National]

What profit or gain is there associated with receiving lawful money in exchange for my time or property (not from business)? Since I'm not receiving private credit, but rather lawful money, it's a 1:1 transaction, no profit or gain, therefore not income.

Or am I thinking this through too simplisticly?

There is no profit or gain when one exchanges the agreed upon value (supply-vs-demand) of their work/labor directly for Lawful Money of the United States, instead of choosing to accept Federal Reserve issues of intangible "bills of exchange" known as FRN's.

It is a 1:1 exchange transaction like you had stated above.

Every human+being has always had the unalienable natural law (God's perfect Law) right to contract with others to exchange the mutually agreed upon value of their limited resource work/labor directly for whatever form of payment they so choose to accept.

[Seosaidh]

Seems to me that banks not having US Notes on hand is what's complicating the entire process. It should be a simple matter of demanding FRN's be redeemed for US Notes and/or coin.

Since US Notes aren't readily available, we're reduced to performing legal gymnastics in order to gain access to lawful money. The NY tax guy has a good point, in that it should be easily demonstrated by the codes and regulations how to exercise the remedy. Or maybe I simply don't understand the process well enough yet.

Also, it seems to me that Federal Reserve Banks, being unable to provide US Notes on demand, are in breach of contract when the can't perform as demanded. Shouldn't that be grounds for a lawsuit?

[American_National]

David,

Do you have a URL reference to an online copy of a Public Law or act of Congress that initially established the $300 MILLION Dollar limit on United States issues of the "United States (currency) notes" that are present-day described in 31 U.S.C. ?5115(b)(1), please?

http://www.law.cornell.edu/uscode/text/31/5115
31 USC ?5115
(a) The Secretary ofthe Treasury may issue United States currency Notes. The notes—
(1) are payable to bearer; and
(2) shall be in a form and indenominations of at least one dollar that the Secretary prescribes.
(b) The amount of United States currency notesoutstanding and in circulation—
(1) may not be more than $300,000,000; and
(2) may not be held or used for a reserve.

The notes section states that the words “United States currency notes” are substituted for “United States notes” for clarity and consistency in the revised title.

Also, per the United States Treasury website, under the subheading of “What are United States Notes and how are they different from Federal Reserve notes?” we find the following important information:

“Because United States Notes serve no function that is not already adequately served by Federal Reserve Notes, their issuance was discontinued, and none have been placed into circulation since January 21, 1971.” http://www.treasury.gov/resource-cen...al-tender.aspx

I can see why the Treasury had to publish the above statement seeing as how there are $239 MILLION Dollars in "United States notes" currently outstanding and in circulation. (see page 11 of the September 2012 .pdf report for the sum of United States notes currently outstanding and remaining in circulation http://www.treasurydirect.gov/govt/r...opdm092012.pdf)

United States (currency) note issues were discontinued and none have been placed into circulation due to the fact that the Treasury thinks that $61 MILLION remains outstanding and in circulation - if you don't count the $25 million in United States Notes issued prior to July 1, 1929, that was determined pursuant to Act of June 30, 1961, 31 U.S.C. 5119, to have been destroyed or irretrievably lost. (see note 13 on page 15 of the above monthly report.)

[American_National]

Seems to me that banks not having US Notes on hand is what's complicating the entire process. It should be a simple matter of demanding FRN's be redeemed for US Notes and/or coin.

I was already composing a thread reply along these lines . . . Hopefully David can post a URL to the foundational material stating the reasons for the establishment of the hard-figure $300 MILLION Dollar limit by Congress.

[Seosaidh]

Logically, there is probably only $300 million in gold backing the certificates that back the notes.

[martin earl]

I was already composing a thread reply along these lines . . . Hopefully David can post a URL to the foundational material stating the reasons for the establishment of the hard-figure $300 MILLION Dollar limit by Congress.

This limit by law, was set prior to the civil war, for issuance of the Greenback. That law limited the notes based on how much Gold coin of the US was already in the Nation or would be with current gold reserve bullion. Since nearly all the Greenbacks were eventually redeemed in Gold coin and the total was about 300 million (at face value of the coins) after the Civil War and when the Silver dollar and Gold Coins had a par value again.

Those gold coins were then voluntarily given back to the Treasury in the New Deal of 1933 and the Gold confiscation. US Notes were again issued (in various forms) and ON DEMAND could be exchanged for Federal Reserve Notes and some Federal Reserve Bank Notes could be redeemed directly for gold coins.

I found this interesting and wanted to share it about United States Bank Notes (legal tender):

"So, great. But what do these obligations mean? Well, remember that these notes [US Bank notes with RED SEALS] were actual U. S. debt issued by the US Treasury. Therefore, at certain times, restrictions on their use were deemed necessary to avoid the treasury to default. Acceptance of U. S. notes issued by the treasury for interest on its debt (which includes these notes) would be silly. They wanted notes which were backed by other banks or government agencies, like the Federal Reserve."

from: http://www.banknoteden.com/Legal%20Tender.htm alterations in bold and brackets mine.

The US Notes were discontinued because for 200+ years, the confusion of several different notes in circulation as "legal tender" both public (lawful money) and private (reserve notes) was out of hand. And, it was actually nearly impossible to know who was using what notes for what.

It is my belief that there is a US Note on the face of every currently issued Note today (above the 1 and 2 dollar denomination). This brilliant solution to different notes and my recorded DEMAND for lawful money per 12-USC 411 leaves no question which notes I am using.

It is already record on every bank transaction and that simple act of 2 notes in one makes book keeping a matter of record, not which notes where used in which transaction and what transactions are taxable events and which are not.

It also hides the US Note in plain view to confuse those seeking a different Note or Gold or silver coin redemption. Masterful manipulation of the law and the human mind while all the while, not breaking the law and keeping lawful remedy accessible to all.

[Seosaidh]

This limit by law, was set prior to the civil war, for issuance of the Greenback. That law limited the notes based on how much Gold coin of the US was already in the Nation or would be with current gold reserve bullion. Since nearly all the Greenbacks were eventually redeemed in Gold coin and the total was about 300 million (at face value of the coins) after the Civil War and when the Silver dollar and Gold Coins had a par value again.

Those gold coins were then voluntarily given back to the Treasury in the New Deal of 1933 and the Gold confiscation. US Notes were again issued (in various forms) and ON DEMAND could be exchanged for Federal Reserve Notes and some Federal Reserve Bank Notes could be redeemed directly for gold coins.

I found this interesting and wanted to share it about United States Bank Notes (legal tender):

"So, great. But what do these obligations mean? Well, remember that these notes [US Bank notes with RED SEALS] were actual U. S. debt issued by the US Treasury. Therefore, at certain times, restrictions on their use were deemed necessary to avoid the treasury to default. Acceptance of U. S. notes issued by the treasury for interest on its debt (which includes these notes) would be silly. They wanted notes which were backed by other banks or government agencies, like the Federal Reserve."

from: http://www.banknoteden.com/Legal%20Tender.htm alterations in bold and brackets mine.

The US Notes were discontinued because for 150 years, the confusion of several different notes in circulation as "legal tender" both public (lawful money) and private (reserve notes) was out of hand. And, it was actually nearly impossible to know who was using what notes for what.

It is my belief that there is a US Note on the face of every currently issued Note today (above the 1 and 2 dollar denomination). This brilliant solution to different notes and my recorded DEMAND for lawful money per 12-USC 411 leaves no question which notes I am using.

It is already record on every bank transaction and that simple act of 2 notes in one makes book keeping a matter of record, not which notes where used in which transaction and what transactions are taxable events and which are not.

It also hides the US Note in plain view to confuse those seeking a different Note or Gold or silver coin redemption. Masterful manipulation of the law and the human mind while all the while, not breaking the law and keeping lawful remedy accessible to all.

I have a dumb question, is your demand recorded at your bank, District Court, or where?

[Jethro]

I am trying to simplify multiple code sections and regulations to make it easier to understand. I could quote a series of code sections, but I am trying to explain it is the most basic way. David provides a general overview of his theory without referring to code sections, regulations and case law, so I figured it was the easiest way to do it. I am a tax lawyer by trade, and know the code and regs quite well. However, I prefer to explain in plain English, in a way I hope all can understand. Sure you can search for value, but you won't find it used in the context I am using it, but it is correct. Think about this, you perform a service for someone. The service you just performed has a value to it, and you expect to be compensated for that value. You assign an amount to the worth of that work, typically this is your salary, or hourly wage. Under the code...

Again NYGMan, the problem as I see it is you're beginning with a presumption; a presumption that one is "under the code". How do you know that presumption is correct?

You see, I have a "code," too - Jethro's Tax Code, and under the code everybody owes me One Million Bux. <--- It says so right there. So why haven't you paid me your Million Bux tax?

[martin earl]

Logically, there is probably only $300 million in gold backing the certificates that back the notes.

"On April 5, 1933, Roosevelt ordered all gold coins and gold certificates in denominations of more than $100 turned in for other money. It required all persons to deliver all gold coin, gold bullion and gold certificates owned by them to the Federal Reserve by May 1 for the set price of $20.67 per ounce. By May 10, the government had taken in $300 million of gold coin and $470 million of gold certificates."

http://www.history.com/this-day-in-h...-gold-standard

That Gold coin is nearly the identical amount of Greenbacks redeemed after the Civil War. It is my belief (backed by the Congressional record) that those coins were given to the US treasury and are held in trust, by those who demand lawful money redemption.

We now have proof that those funds (by representation) are IN circulation by the Treasury accounting document and are accessed by DEMAND for lawful money per 12 USC 411.

[martin earl]

I have a dumb question, is your demand recorded at your bank, District Court, or where?

The District court and on every bank transaction I do, and on all my endorsements. it is getting forwarded to the Treasury as we speak, via criminal complaint/notice to the Secret Service. (actually its the department of Homeland Security now, but if the SS does not handle it, it will go directly to Treasury enforcement officers next).

This is getting further down the road of redemption, without demand for lawful money per 12 USC 411, we are not even on the road, it all starts with your demand and goes from there.