Well, which is it? If it is “money”, why do “federal reserve notes” say that it is “legal tender”? Good question. If it is a debt, why isn’t it “money”?
If you really take the time to ask these good questions, and others, some easy research will educate you to the truth. Yes, the truth, and NOT what is often referred as “common knowledge”.
When it comes to Uncle Sam, the truth is what is actually written in the law (not what isn’t), what is written in the regulations implementing the law, and of course, what a conniving lawyer can get a court to say what the law is.
In every day American language, money is what ever you want to use to exchange goods and services. If chicken noodle soup cans can be used to pay your neighbor’s kid for cutting your lawn, then those soup cans are “money”.
We started out in this country using aside from the barter system coin, both gold and silver, but of course, the banking community took care of that and conveniently exchanged (with the help of Franklin Delano Roosevelt) real “lawful money” for paper money, or what is lawfully called “currency”. Yes, the dollars you have in your pocket is lawfully, “U. S. Government currency”. Now, if I pay my neighbor’s kid for cutting my lawn with the government’s currency, and the kid accepts it as a “tender in payment”, then I’ve fulfilled my obligation and paid the kid.
But the government doesn’t stop there. It goes further. Read on…
12 USC Sec. 411 TITLE 12 – BANKS AND BANKING CHAPTER 3 – FEDERAL RESERVE SYSTEM SUBCHAPTER XII – FEDERAL RESERVE NOTES 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.
So, if you read the emphasized words in the quote in one sentence and translate it to every day American English, it will read as this:
An unelected private group of bankers, here now and now forever, sell obligations (debt instruments) of the United States government (to the United States) and will pay this debt with revenue from public taxes (from you and me)
And Oh, by the way. If you use it because you thought it was “money”, well hey, that’s your problem!
There’s more to this story. I just gave you this snippet just to make you think for yourself. Can you at least question on your own, using your own smarts and not what is spoon fed by government schools and their media proponents?
Think! Just think! Your money is a DEBT! Not an asset (gold and silver) that it used to be.
So look again. Which is it? Money or Debt?
Perhaps you’ve been getting screwed by Uncle Sam because you didn’t know that you’ve been using dollars as both-Money and Debt!