Redeeming Lawful Money on Daily Paul

[mikecz]

Nice Find!!

What that means to me is when the FRNs in the vault fall below that portion the bank can no longer operate in elastic fashion. Ergo, lawful money.

I think there is a distinction though, the bank can only hold a maximum of 85% of it's deposits in "non" lawful money (I take this as meaning FRNs, etc.) This code pertains not to the total reserves, but the type of reserves. Obviously if the total reserves fall below a prescribed %, the bank is at fault, and has to either get funds from somewhere, or decrease it's loans. In the description of that type, the code uses the term lawful money...


15% of deposits must be held in lawful money. If the FRN's in vault fall, that would just mean the bank would have a larger % of lawful money. Now that lawful money has been shown to be different, I wander if those members at the bank can demand their money to be held as such? (***edit - Yeah so i read an earlier thread of you already coming to this conclusion, the belief that coins are lawful money because they fill all the needed requirements, mainly because the are issued from the us treasury) Kind of makes you think about why the Federal Reserve is holding billions in 1 dollar coins? Is there a reserve requirement in written in requiring lawful money to be held in a % within the states?

Another point comes to mind. What if I deposit $1,000 in quarters. To my knowledge, coinage is handled by the US Mint, under US treasury, and not equivalent to FRNs. Would it be too much a request a bank not convert my coinage into FRNs? Are coins lawful money? Though not backed by anything, the fact that they originate from the gov't could be a factor.

[David Merrill]

I think there is a distinction though, the bank can only hold a maximum of 85% of it's deposits in "non" lawful money (I take this as meaning FRNs, etc.) This code pertains not to the total reserves, but the type of reserves. Obviously if the total reserves fall below a prescribed %, the bank is at fault, and has to either get funds from somewhere, or decrease it's loans. In the description of that type, the code uses the term lawful money...


15% of deposits must be held in lawful money. If the FRN's in vault fall, that would just mean the bank would have a larger % of lawful money. Now that lawful money has been shown to be different, I wander if those members at the bank can demand their money to be held as such? (***edit - Yeah so i read an earlier thread of you already coming to this conclusion, the belief that coins are lawful money because they fill all the needed requirements, mainly because the are issued from the us treasury) Kind of makes you think about why the Federal Reserve is holding billions in 1 dollar coins? Is there a reserve requirement in written in requiring lawful money to be held in a % within the states?

Another point comes to mind. What if I deposit $1,000 in quarters. To my knowledge, coinage is handled by the US Mint, under US treasury, and not equivalent to FRNs. Would it be too much a request a bank not convert my coinage into FRNs? Are coins lawful money? Though not backed by anything, the fact that they originate from the gov't could be a factor.

Check out this thread.

What I want to do then is go buy $100 in quarters and see if the bank selling me the quarters for one $100 FRN requires identification. A while ago I walked in a bank and wanted some of those Washington dollars with the IN GOD WE TRUST on the rim. The teller wanted ID and I declined the transaction and she reluctantly gave me back my $20 FRN. The security guard dogged me off the premises like I had committed a crime of not identifying myself to a bank teller!

My life is full of these kinds of twists and turns.

You bring to mind of course the Article from 1984 and its Timeline. I like Timelines. The one I am mentioning though is pegging the US note to the Fed note in value. The article amplifies an interim stage where the author was focused in 1984 exclusively on the distinction of coins.

The coins say nothing about the Federal Reserve System anywhere on them.

This is a key to understanding lawful money redemption. One day some folks interrelated to Red Shield - Rothschild - sent me a bundle of cash to publish some citizenship papers here in Colorado. [I have spoken of Colorado's role as War Chest, not quite a Territory.] I was smart enough to change the $4 in surcharges to quarters. After a big discussion about it the manager refused to publish the documents devaluing and rejecting the wad of $100's but being clever about it I kept the wad and left the $4 in coin on the counter. Listen to that link at about the 5:00 Mark about the $4 in quarters.

Interestingly while I was waiting for the manager to study up a fellow walked in and engaged my clerk in conversation about military flag protocols. Amazing - the timing!

Amazingly, while I was correctly under the impression the $4 would compel the county attorney to publish the papers within three days what he did instead was to use my process server, which must have come to mind by the clerks remembering all the times he has picked up documents directly to return the $4 in quarters. Within the three days my process server called and I went downtown and picked them up, confirming that attorneys know full well when under pressure about Refusal for Cause.


Regards,

David Merrill.

[mikecz]

Check out this thread.

What I want to do then is go buy $100 in quarters and see if the bank selling me the quarters for one $100 FRN requires identification. A while ago I walked in a bank and wanted some of those Washington dollars with the IN GOD WE TRUST on the rim. The teller wanted ID and I declined the transaction and she reluctantly gave me back my $20 FRN . The security guard dogged me off the premises like I had committed a crime of not identifying myself to a bank teller!

My life is full of these kinds of twists and turns.

You bring to mind of course the Article from 1984 and its Timeline. I like Timelines. The one I am mentioning though is pegging the US note to the Fed note in value. The article amplifies an interim stage where the author was focused in 1984 exclusively on the distinction of coins.

The coins say nothing about the Federal Reserve System anywhere on them.

This is a key to understanding lawful money redemption. One day some folks interrelated to Red Shield - Rothschild - sent me a bundle of cash to publish some citizenship papers here in Colorado. [I have spoken of Colorado's role as War Chest, not quite a Territory.] I was smart enough to change the $4 in surcharges to quarters. After a big discussion about it the manager refused to publish the documents devaluing and rejecting the wad of $100's but being clever about it I kept the wad and left the $4 in coin on the counter. Listen to that link at about the 5:00 Mark about the $4 in quarters.

Interestingly while I was waiting for the manager to study up a fellow walked in and engaged my clerk in conversation about military flag protocols. Amazing - the timing!

Amazingly, while I was correctly under the impression the $4 would compel the county attorney to publish the papers within three days what he did instead was to use my process server, which must have come to mind by the clerks remembering all the times he has picked up documents directly to return the $4 in quarters. Within the three days my process server called and I went downtown and picked them up, confirming that attorneys know full well when under pressure about Refusal for Cause.


Regards,

David Merrill.

David,

Apologize it advance, just trying to follow here... I thought you said $100 in quarters, why did the teller give you a $20 back You can't buy $100 in quarters with a $20 FRN or was this what you were trying to do? Do you mean 100 quarters, not $100 in quarters (I suspect this is the case)

Ok, so someone gave you money to publish an article about CO. Were the $4 in surcharges the cost to publish the article? I'm not sure why the manager refused the wad of cash as a form of payment (how much was it). I got a little lost in your story here and fail to see the importance. Where was the devaluation of the wad of cash?

Once again, I'm in pursuit of the truth, and if I'm clear, this story is proving a distinction in the value the two forms of "money" (coin and FRN). I think somewhere out there is an explanation why lawful money is pegged to the FRN, because it definitely isn't the other way around. Maybe we choose to accept the lawful money pegged to the FRN, when in reality it is worth far more then we suspect. I believe this is what your story is getting at, I'm just not quite getting the importance. Also, you have stated earlier about the us note being pegged to gold at 42/per troy ounce? Where is that information?