Quote Originally Posted by David Merrill View Post
I believe you are making a great point.

In America and abroad to some extent we have United States currency notes. Given some time I could grab the citation but as I recall postage stamps, USPS Money Orders, Special Drawing Rights (SDR's) and pursuant to notes of 31 USC §5115 US notes are now included pegged to the value of FRN's by a name substitution. Both the latter are a bane to honest balances and are cause disease.

I agree.

United States currency notes is the 'nickname' or 'alias' for Federal Reserve Notes which are NOT redeemed so as to obfuscate the most important point; who issues United States notes and who issues United States currency notes? The question of where the notes were issued from (either the United States Treasury or the Federal Reserve) makes the difference between non-elastic public money of the people and elastic private money of the FED.