SHTF Dream

[monkeywrenching]

Originally Posted by Nor'Eastah

"Someday"?? I hope you have young children, or grandchildren, as it won't happen in your lifetime.

As a much older and wealthier man once told me in my youth, "Forever is a long time". Alas.... We are in a deflationary period, not inflationary. We are more than halfway into another depression.

I now have both, and I think the USA world currency in waning. probably wont be long til the frn goes away as the world currency.

it is hard to be the worlds currency, when your currency is a fiat currency.

[jetgraphics]

Originally Posted by monkeywrenching

it is hard to be the worlds currency, when your currency is a fiat currency.

The Dollar Bill is NOT Fiat!
- - - - -
MINI MONEY PRIMER
=\=\=\=\=
The following about money is only in reference to American law.

REAL MONEY - Money which has real metallic, intrinsic value as distinguished from paper currency, checks and drafts.
- - - Black's Law Dictionary, Sixth Ed. p. 1264

MONEY - In usual and ordinary acceptation it means coins and paper currency used as a circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate. Lane v. Railey, 280 Ky. 319, 133 S.W. 2d 74, 79, 81.
- - - Black's Law Dictionary, Sixth Ed. p. 1005

NOTE - An instrument containing an express and absolute promise of signer (i.e. maker) to pay to a specified person or order, or bearer, a definite sum of money at a specified time. An instrument that is a promise to pay other than a certificate of deposit. U.C.C. 3-104(2)(d)
- - - Black's Law Dictionary, Sixth Ed. p. 1060

FIAT MONEY. Paper currency not backed by gold or silver.
- - - Black's Law Dictionary, Sixth Ed. P.623

TENDER - An offer of money ... Legal tender is that kind of coin, money, or circulating medium which the law compels a creditor to accept in payment of his debt, when tendered by the debtor in the right amount.
- - - Black's Law Dictionary, Sixth Ed. p. 1467

. . . . .

“ The said notes shall be obligations of the United States ...and shall be receivable ... for all taxes, customs, and other public dues.”
- - - 12 USC Sec. 411

AS an obligated party, the government must accept its own notes in lieu of lawful money. What about the rest of us?

Can you GUESS what made "all the rest of America" into obligated parties?

Here's a HINT:

CONTRIBUTION - ... The share of a LOSS payable by an INSURER when contracts with two or more insurers cover the same loss... The sharing of LOSS or payment among SEVERAL...
--- Black's Law Dictionary, Sixth Ed., p. 328

....
Enumerated human resources who sign up with the Federal Insurance CONTRIBUTIONS Act are obligated parties on the debt, since they SHARE the loss, thus making those FRNs into "their" notes... and LEGAL TENDER.

"Federal reserve notes are legal tender in absence of objection thereto."
MacLeod v. Hoover (1925) 159 La 244, 105 So. 305

All duly enumerated American socialists cannot object to the tender of the notes that THEY are obligated parties to. (thanks to FICA)

FRNs are NOT MONEY but are legal tender on the obligated party of those notes - the Federal government (12 USC Sec. 411) . . . AND the 320 million enumerated socialists (Social Security Act of 1935).

Recapping:

● Lawful money = gold / silver coin (aka real money)
● Money = lawful money or currency (i.e., certificates which are receipts for real money in the vault)
● Notes are not money, by law, nor are they "fiat" because they're debt (negative value)

Holding a note in your hand does not give it face value. It may be legal tender at face value to an obligated party on said note, but that does not give it value.

If you emit an IOU, "I, John Doe, owe the bearer one dollar," what value does it have? Did you give a dollar to the note holder? No. You gave nothing of value - only a promise to pay in the future. Not fiat. Minus one dollar.

Until the note is extinguished by redemption, it is a minus value.

• Fiat currency is not debt, is not minus, and is not redeemable.
• Notes are not fiat, being redeemable, in lawful money.

Repudiated notes of a bankrupted government underwritten by 320 million human resources, via FICA, are still not fiat.

BUT if you are an obligated party (via FICA) on said note, beware when the creditor comes after you and yours!

To misquote "Soylent Green" - - - "Dollar bills are people!"