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Thread: Treasury explains lawful money in 1982

  1. #1

    Treasury explains lawful money in 1982

    I discovered this letter filed in an unlikely place - with VK DURHAM's Peruvian Gold Bond. I think that is because the recipient is an old friend of hers.

    Here are some highlights!

    One item to augment this is determining for yourself how endorsing private credit creates SDR certificate value for trading while redeeming lawful money destroys SDR certificate value.

    Last edited by David Merrill; 09-09-11 at 02:18 PM.

  2. #2
    I have what probably is a dumb question, but here goes: I understand the thrust of the work done here is toward understanding how to withstand scrutiny from the IRS and the courts. Proper record forming is essential. However, what problems might arise if someone makes a deposit with a bank, then simply writes a check for, "Pay to the order of lawful money 12 USC 411 in the amount of ____"?

    Seems to me the bank would have no difficulty understanding this, and would still have the benefit of using the funds on deposit. As long as other checks are never drawn against the account, wouldn't this prove the trust account never paid out anything but lawful money?

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