That is an eloquent explanation MJ! And it interleaves well with RA's comment.
The symbols on the cashier's check symbolize credit - good faith and credit.Originally Posted by Rock Anthony
With regards to the verbiage: "Deposit for Credit on Account or For Non-Negotiable Federal Reserve Notes of Face Value."
I do not want to touch credit! My comprehension is that the Federal Reserve issues credit, and Congress has imposed excises against the use and transfer of that credit.
The demand for lawful money redeems Fed credit into lawful money. As far as I'm concerned, do not deposit credit into any account that I'm authorized to use.
But that's just me.
I am with you Rock; I have not touched credit since the sheriff converted my $26 cash into a check in booking, maybe twelve years ago. I took it to the bank and they refused to cash it back if I was unwilling to sign the back. I returned the check to the sheriff's office requesting they cash it for me but they treated me like MJ's bankers did his friend. I never heard back.
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