Quote Originally Posted by Robert Henry View Post
You would have to be exchanging one type of coupon (FRN) for another (US Note) in this analogy.

US Notes are out of circulation and FRN's have been deemed their functional equivalent. Therefore, the transmutation from FRN to lawful money, on demand, is purely metaphysical.
Show me where it is expressed that the FRN is exchanged for USN in the "terms and conditions" regarding redeeming.

I read that it is "gold", in the original "agreement circa 1913, and then changed to "lawful money" in the novation circa 1934.

Is there an express definition of "lawful money" in the novation which states it defined as 'USN' as it relates to the "new agreement"?

BTW, of course the "transmutation" is metaphysical for this matter; however, I believe the point is to clearly express one's demand to avoid "fees" (taxes) for use of the FRN in ways other than what is expressly permitted... "for no other purpose..."; is it not?