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Thread: "Lawful Money" definition? attn:David

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  1. 01-22-15, 02:45 AM #7
    allodial
    allodial is offline
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    Quote Originally Posted by David Merrill View Post
    The courts say, United States notes shall be lawful money.

    By law, US notes are still redeemable in gold. The Treasury, not Congress, has stopped issuing US notes and because of the breach of trust by Congress and the Fed, the non-reserve currency is attached in value to the reserve currency, Federal Reserve notes.

    I am sorry if that is not very clear yet. I tried to make it as succinct as I could. Federal Reserve notes were redeemable in gold from 1913 to 1933.
    It might help to consider that the gold traded on the general market is part of the goods, labor and services underwriting currency (along with petroleum, titanium, myriad pharmaceutical products, Uranium ore, coal, Starburst and Pez). (Even Warren E. Buffet is probably a U.S. citizen.)

    Name: Warren_Buffet_US_citizen.png Views: 509 Size: 168.0 KB
    Last edited by allodial; 01-22-15 at 03:13 AM.
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