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All money is a fiction. It doesn't matter what actual medium is chosen. Salt. Wampum. Gold. Little pieces of paper. All any of it has to do is...
1. Provide a convenient way to evidence the exchange of one good or service for another.
2. Provide an efficient means for storing value over reasonable periods of time.
3. Provide a common way of describing the current worth of one thing versus another.
As long as something can accomplish those things and everybody agrees that we're actually going to use whatever that something happens to be for those purposes, then it really doesn't matter what that something happens to be...
3. Provide a common way of describing the current worth of one thing versus another.
WAAAAY to go!
Did you finish some sort of creative writing class?
Do you work for the Government?
When times get tough, many resort to fiction as an escape.
Others, notice an increased ability to see, hear, and smell.
Then gold would simply have to increase in value enough to compensate for the abundance of fiat currency.
That's how the math works.
1. The currency is not fiat. Fiat is currency that has value because the government says it does.
2. Pursuant to Title 12 USC Sec 411, every "dollar bill" is an obligation (debt) to pay the bearer on demand face value... in lawful (gold) money.
3. In 1933, Congress repudiated that promise to redeem their notes.
4. "Dollar Bills" (FRNs) are less than zero - minus value. They are NOT fiat.
5. They act as legal tender because 305 million Americans signed up with national socialism and became "human resources" pledged as collateral on the impossible national debt. (see the legal definition for "contribution" as in Federal Insurance CONTRIBUTION Act of 1935)
6. The national debt, in excess of ten trillion dollars, is not only impossible to pay with gold, it cannot be questioned, pursuant to the 14th amendment.
TITLE 12,UNITED STATES CODE, CHAPTER 3,SUBCHAPTER XII,sec. 411. Issuance to reserve banks; nature of obligation; redemption
"Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be OBLIGATIONS of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in LAWFUL MONEY on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank."
FRNs are obligations of the U.S. government to pay lawful money on demand.
LAWFUL MONEY - "The terms 'lawful money' and 'lawful money of the United States' shall be construed to mean gold or silver coin of the United States..."
Title 12 United States Code, Sec. 152.
Federal Reserve Notes are issued under the authority of Art 1 Sec 8 power to borrow on the credit of the United States.
Article 1, Section 8. U.S. Constitution.
The Congress shall have Power
...To borrow Money on the credit of the United States;
But the notes were repudiated in House Joint Resolution 192, (June 1933). Congress will no longer guarantee the 'exchange rate' of the dollar (for each FRN). But the law still defines the national debt (in excess of 10 trillion dollars) in terms of gold. That computes to a sum of 500 billion ounces gold. Which is 100 times as much gold as is estimated to exist, above ground, in the world.
And Congress cannot question the public debt because of the 14th amendment, even when it is insane.
Amendment 14, Section 4.The validity of the public debt of the United States, authorized by law, ..., shall not be questioned.
Last edited by jetgraphics; 02-26-2009 at 01:15 PM..
this might be a good start. if you believe the fed needs to be reigned in, contact your congressman and get them to support HR1207. then pass it on to everyone you know.
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