Originally Posted by
Franco
1. Yes, my first two initial fed checks I cashed I did not cross out “the order of” and one check paid to me by apartment mgr. for a refund. The rest I have crossed out “order of”.
If you did not 'non-endorse' by putting your demand for LM on the back, they were paid in FRN's and are taxable
However I have a question, wouldn’t it be an alternation of a government document? See below: § 3-407. ALTERATION.
•(a) "Alteration" means (i) an unauthorized change in an instrument that purports to modify in any respect the obligation of a party, or (ii) an unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.
The party here is the drafter, ie, the govt. Your demand for LM comes after negotiating the instrument; your bank obtains FRN's or credit from the drafter's bank. Then they redeem these for LM, then deposit the LM in your account. There is no need to alter the instrument on the front; all your choices are on the back.
(b). also in the past when I did cross out wordings , I crossed it out, initial it and dated it. However doing that on a govt. check would clearly draw attention to bank clerk.
2. You stated, .” I am surprised that your bank has not come back on you for your non-endorsement (restricted endorsement).” In this case wouldn’t the following apply?
§ 3-104. NEGOTIABLE INSTRUMENT.
•(e) An instrument is a "note" if it is a promise and is a "draft" if it is an order. If an instrument falls within the definition of both "note" and "draft," a person entitled to enforce the instrument may treat it as either. (note: I signed it with First,Middle ;dbaFIRST LAST Title 12 sec 411 redeem in lawful money. That would show my intentions for the Bank to pay in lawful money.) so wouldn’t they have to treat it as a restricted endorsement?
Most banks can and will treat that as a restricted endorsement. BofA says they will ignore anything you write on the back! This is why you need to get your demand on the signature card, or notice them for the entire account.
3. The day I opened the account with Chase bank and signed the signature card to have all my transactions and deposits redeemed in lawful monies Title 12 USC 411, I requested a non-interest bearing checking account. The bank Rep who opened my account and later the bank manager stated my account is non-bearing interest checking account. So if I a have a non-interest checking account I am paying no interest. If paying no interest my monies are lawful monies because they are not been fractionalized.
A no-interest account means the bank is paying you no interest, because you are not letting them loan against your credit. Deposits in FRN's can be used as reserves for fractional reserve lending (means the bank lends out more money than they have in deposits). Used to be the bank paid you interest for the privilege of lending against your credit, but under the current financial repression scheme, banks don't pay (significant) interest on any accounts. By not letting the bank use your deposit as reserves for fractional reserve lending, you avoid the 'use' of FRN's, and thus avoid the obligation to pay income taxes on the deposit (which is assumed to be income for tax purposes; this is why the account agreement wants you to admit to being a US citizen (hence 'taxpayer'), and providing a SS#, so the IRS can track your taxable income).
4. In one of my certified letters to the Chase Bank Mgr. I also included a “Notice and Demand” letter as you have posted on you cite. I include the wording like, “notice to agent is also notice to principal”. Also made sure it included : Be it now known to any and all parties forevermore that I amFirst Middle and the PERSON known to others as FIRST LAST, have made and still do make, my demand for lawful money for any and all dealings and transactions, including transactions on all my bank accounts. Also to include : No contractual obligations shall be construed to act or operate in any way or manner to eliminate, diminish, supersede, or otherwise modify any provision contained within this Notice and Demand.(do I still have to fill notice and demand with Federal Reserve Bank as well?)
If the bank accepted your account with the demand for LM on the signature card, you should be good. Be sure to keep copies of your signature pages somewhere safe.
5. I will very soon have to change to direct deposit in accordance with the law.
(a). I will not be able to cross out “the order of” because I will no longer see the check.
see above; your account is redeemed in LM before deposit
(b). so when I fill out an account check and cross out “the order of” on the account check to take out my monies , will that also solve the problem on “pay to the order of ” on the fed. Check that was transferred directly to chase bank.?
see above; your account contains LM. Should you wish to purchase some asset and acquire legal title, as well as equitable title, you need to prove that you are paying in LM; a copy of your signature page should suffice. Then write on the front of your check, on the For line, Paid in Full in Lawful Money. You can do this even when cashing a check against your account for cash; this proves that you have LM in the form of FRN's. David stamps his LM FRN's with the "Redeemed" stamp. This is helpful when paying for District Court services, but you can also pay by check from a LM account.
© Dave . As for the “being a U.S. citizen (or not) just bring up side issue and trouble” I am not clear on what you mean without specifics.
You are a 'US citizen' if you have a SS#, or if you are accepting any other government benefit. Claiming you are not a US citizen will be a flag for the IRS, and will cause conflicts if you have a SS#. As discussed earlier in this thread, it is your cestui que vie trust which is the US citizen (it is a legal, fictional entity, a corporate 'person' which holds title to assets in your estate, for your (the live person's) benefit). You are signing the contract with the bank as an accomodation party for your trust; the bank cannot contract with you, the live person (since the bank is not a live person).
Thank you David and once again appreciate your response
, Franco
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