Quote Originally Posted by shikamaru View Post
To be backed by something is referred to as reserves.
Reserves fulfill the purpose of limiting or preventing inflation of the issuing medium of exchange.
This is a facet of representative or commodity money that uses paper at some point for transactions or exchange.
And that is where I - mentally, conceptually, understandingly - get stuck. IF there really are no "reserves" then there is nothing backing it nor is there any 'full-faith & credit of the people' since the people (the majority of them anyway) are not aware of this.

Quote Originally Posted by shikamaru View Post
The Sovereign determines what the "coin of the realm" will be.
For example, in England the "coin of the realm" for centuries were tally sticks (wood), in addition to copper, silver, or gold coin.
It doesn't really matter what is used as a medium of exchange. Gold and silver just do a really nice job of acting as a medium of exchange.
The Sovereign can just as easy declare a particular medium no longer as lawful tender. This is called demonetization.
Law is the will of the sovereign.
From my understanding, it was the King who decided upon using tally marks upon sticks/wood. That means HE was the sovereign, not the People. Are we not in the very same situation right now? THEY decided we should use FRN's, THEY decided to take us off the gold standard. This is where my own conundrum begins regarding 'redeemed for lawful money' & believing we "should" be back on the gold standard.
However, I have yet to find anything that says we are limited to contract, therefore, if I want to bargain/exchange/trade with you, that would fall under Private Contract (which it does appear we would HAVE To PROVE to avoid being 'taxed')


Quote Originally Posted by shikamaru View Post
You are doing better than me on this aspect. I didn't realize this until recently!
Ha ha ha you should see my "No Trespassing" sign (only have it cuz I did research on land/ownership and fully understand all Rules/Regulations/Codes pertain to THEM not me. And please don't think I'm doing better than you - I guarantee you have more insight/knowlegde than I do in many other areas.


Quote Originally Posted by shikamaru View Post
If a person insults you for asking intelligent questions, it means either they are hiding something or they themselves are clueless.
Insults serve to cover one's ignorance of the subject in addition to being a wasteful distraction.
Yes, I am well aware of those tactics/defenses.
I only acknowledge/thank for considering my Q's because I was kicked out of Catholic Church cuz I asked too many Q's they could not answer ... well, not 'kicked out' but was told "...there is no reason for you to return here again."
That is why I do my best to acknowledge forthcoming/open folks when I pose Q's/statements/beliefs/etc. - because I truly do appreciate the time, consideration & effort.