Resistance and Refusal by Banks

[David Merrill]

Am I wrong to understand that unless a check (or similar instrument) is endorsed, it is non-negotiable? And that banks can accept deposits even endorsed in blank? I'm sorry to go over ground that I'm sure has been covered most exhaustively on this site, but unless there is an endorsement, then the instrument remains non-negotiable.

So "non-endorsing" is an attempt to enter an instrument into the banking system without liability. Great! This seems to be (to me) the source of all the problems with banks. They're just not set up to deal with demands for lawful money. I think that's why the statute says demand must be made at Treasury or at one of the 12 Federal Reserve Banks.

Now lately I've been wondering about sending notice of demand to the Treasurer (Rosie Rios), maybe even asking her to provide an identifying number of some sort identifying my particular demand (or asking her to agree to one I provide); and then continuing to make deposits at my normal bank by writing down on the back the account number only. When the checks clear, write a check made out to "Lawful Money" and use the cash. After all, the people from whom I accept a check are dealing in banking credit. It only seems fair to follow their request.

At that point - since I never actually receive anything but cash - I can't imagine why I would need to file a return.

Thoughts?

That sounds genius! Open an account with the US Treasurer, by number and use that.

Negotiable and Non-Negotiable take on an atypical meaning in terms of endorsement and non-endorsement.

This particular image was a bounced paycheck.
The bank returned it but with the non-endorsement torn off.

Negotiating instruments involves fiduciary responsibility. What I mean in this context is that it is illegal in the corporate sense to trade down currencies. Except in the case of the Federal Reserve note (the Fed is only an instrumentality of the US because it has been sanctioned for its notes [stock certificates] to depreciate over time, by Congress] all stock certificates, even unit shares of a private trust are ALWAYS intended to increase in value over time.

Therefore the only legitimate trade for FRN's is to trade up, and the only currency available upward is US notes, a non-reserve currency.