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Gold will simply rise on par with its fiat currency equivalent. Whether it's 10,000/ounce, 20,000/ounce, or whatever.
Saying it is meaningless when THE LAW says otherwise.
The Federal Reserve Note is NOT FIAT. Fiat, by definition, has value because the government SAYS it has value. That is not what the law says.
Gold is NOT going to simply rise on par with "fiat currency equivalent."
Pursuant to the Coinage Act of 1792, and following laws, the unit dollar is a silver coin. A one ounce gold coin is equivalent to 20 unit dollars. After 1933, FDR changed the "official" price for gold to 32 dollar bills (not dollars). IIRC, it's up to 50 dollar bills (not dollars) per ounce.
In 1933, the FRN became a worthless security, no par value.
The national debt, denominated in dollars, (not payable with dollar bills), is an impossible to pay obligation.
The FRN is "legal tender" because of 300 million "human resources" signed up with FICA. Under the law of notes, a liable party must accept their own note in lieu of lawful money.
In American law, "real money" is defined as precious metal coin. "Money" is defined as either "real money" or certificates of deposit of real money (receipts). "Notes" are promises to pay money - in the future. Notes are never money, nor are they "backed" (as are receipts).
References:
"Dollars, or units; each to be of the value of a Spanish milled as the same is now current, and to contain three hundred and seventy-one grains and four-sixteenths parts of a grain of pure, or four hundred and sixteen grains of standard, silver."
"Eagles—each to be of the value of ten dollars or units, and to contain two hundred and forty-seven grains and four eighths of a grain of pure, or two hundred and seventy grains of standard gold."
--- Sec. 9, Coinage Act of 1792, April 2, 1792
($10 Eagle had 1/2 troy ounce gold)
According to Title 31 of the U.S. code, a silver dollar complies with the original Coinage Act.
Title 31 USC Sec. 5112. Denominations, specifications, and design of coins
(e)(1) ...weight 31.103 grams;
(e)(4) have inscriptions ... 1 Oz. Fine Silver ... One Dollar
(Troy ounce = 480 grains or 31.103 grams.)
Note: Millesimal fineness is a system of denoting the purity of silver. "Fine Silver" is .999, which is a higher purity than specified in the original law. However, .900 is equivalent to "Coin silver" in the USA, also known as one nine fine. That makes the 1 ounce coin in harmony with 416 grains of "standard silver".
(416/480 = .866666; or rounded up to .9)
In contrast, 'dollar bills' are not lawful money, nor were they ever 'backed' by gold.
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;
"Federal reserve notes are legal tender in absence of objection thereto."
MacLeod v. Hoover (1925) 159 La 244, 105 So. 305
Before 1935, Americans could object to the tender of FRNs. After 1935, "human resources" could no longer object.
Due to the State of Emergency, declared in 1933, by FDR, the government has been operating under reorganization due to bankruptcy. Thanks to the 'human resources', the IMF and World Bank extend "special drawing rights" so the U.S. Congress can "kite checks". The yearly interest on the public debt is already greater than the whole sum spent fighting WW2.
America is a defeated nation. The usurers rule us. Own us. Manage us. And when it suits them, demands our gratitude that they let us regrow our skins after they skin us alive.
Does it make a big difference if we're on the gold standard or not? I mean, there isn't actually enough gold in Fort Knox to back up our currency anyway. We might just as easily be on the tomato standard, for all the actual backing our money has these days. (I personally would prefer apples or oranges to tomatoes; that was just an example I used).
Do not misunderstand me. I do not advocate a return to species money. Precious metal coin is too scarce to be an effective money token. Neither do I condone the current debt-credit usury system that is driving us into destruction.
But if you do not comprehend the law, you will not understand the problem.
Usury is mathematically impossible to pay in a finite money token system. It's been condemned for at least 3500 years - and for good reason. It's a scheme to rob people, with assistance of the government.
America's gold / silver coin system as defined in Art. 1, Sec. 8, 10, of the USCON was a "gift" to the usurers / bankers of the 18th century. In 1787, there were no domestic sources of sufficient bullion to coin the nation's lawful money. It was purchased (or borrowed) from "our friends" the European bankers.
In 1865, the 14th amendment gave the banksters another gift - the public debt could not be questioned.
In 1873, a new coinage act demonetized silver to prevent "free and unlimited coinage of silver" that would have eliminated the scarcity of circulating money, and kill demand for credit, the bread and butter of banksters.
The following quarter century of economic chaos "softened up" the people to accept the necessity for an "elastic currency" to be peddled by the Federal Reserve Corporation. (Which was to be borrowed, at usury, into existence.)
Within 20 years of enactment of the Fed Res Act, the U.S. government went bankrupt, was taken over, and reorganized to prosecute the debt against all obligated parties. (Congress was made trustees of their own bankruptcy. Look up the fiduciary obligation of trustees and you will see that it trumps all other obligations - like their oath to the CONstitution.)
In 1935, Congress and FDR concocted the Federal Insurance CONTRIBUTION Act that made all participants into obligated parties on the impossible debt. (Look up the legal definition for "contribution" - it means either a tax or equal liability for paying a claim) FICA is not insurance for the American people. It was insurance for the deadbeat idiots in Congress. To pass the Supreme court, they used a treaty to avoid the constitutional limits.
As part of FICA, national socialism was imposed, via consent of the participants. Only enumerated Americans are eligible for 'entitlements' (charity from the public treasury), thus making them paupers at law, without the legal standing to absolutely own.
In 2009, the latest round of socialist policy implementations are about to be imposed on the long suffering American people. All the while, the banksters are getting "bail outs" and mishandling the ill gotten wealth, and partying on.
These scoundrels are patient!
It's no surprise that usurers are under a death sentence, pursuant to Ezekiel 18:13 KJV.
So you see, we're victims of a massive and pervasive propaganda ministry, that has so confused us, that we cannot identify the tormentors who prey upon us. And to compound the problem, we are so ignorant of law and real economics, that the usurer / socialist alliance has us begging them to enslave us - for our own good.
I would like to see whether there is any coherent statement of this point of view to be found on this board.
Might I suggest that this move was made by the Congress at the behest of Nixon. Sometimes I wonder why people blame Presidents for things that only Congress can do.
Let me give you an example of what I am talking about. So many people talk about Clinton reforming welfare, but he only gave in to the Congress and let it happen by not vetoing their bill. This happens all the time and makes me wonder just how much so many of you folks really know about how our government works under the Constitution. I would be happy to help anyone who thinks I am wrong to understand how it does work.
Honestly, I did not know it was Nixon. But then, I didn't vote for Nixon. Would you believe I voted for McGovern? LOL Boy, did I change! It's called getting a job, buying a home, and finding out what the real world was all about!
Hey I did all those things and still think Nixon is a paranoid, insecure petty man opened the doors for China to dump unsafe cat food and drywall on us and steal all of our patents.
Don't hold your breath waiting for it to happen.
The real power behind the president was and is the Secretary of Treasury, who is the paid employee of the World Bank and IMF. No president will ever oppose the wishes of the Bank, because we all know who protects the president - the Secret Service. And what branch do they work for?
The Treasury, whose secretary shall not be paid by the U.S. government, Title 22 USC Sec. 286a.
When you arise from your penchant for copying and pasting what you think is the law, you might take time to learn that the US. Secret Service was transfered to the Department of Homeland Security.
If you would like to leverage your income, accumulate real wealth and learn about gold and silver and becoming a business owner please visit www.YOUniquewealth.com/cynthiacarpenter
If you would like to leverage your income, accumulate real wealth and learn about gold and silver and becoming a business owner please visit www.YOUniquewealth.com/cynthiacarpenter
Gee Cindy..welcome to the forum with your one post of advertising.
You have been reported.
Hey I did all those things and still think Nixon is a paranoid, insecure petty man opened the doors for China to dump unsafe cat food and drywall on us and steal all of our patents.
The "Western White House" was in San Clemente, CA. Every time we drove through it, I would call it "San Calamity"!
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