12USC411 says the federal reserve notes must be redeemed at the Treasury, Washington DC or any FEDERAL RESERVE BANK.

The FRB's are the 12 district banks, not the local commercial joint...operating under LICENSE.

I think the concept is correct, but the execution is wrong.

McDonald's corporate headquarters is near Chicago Illinois. If I contract with this business (buy or sell something) I cannot go to the local franchise and present them with an invoice expecting payment. The obligations transacted by the parent corporation do not flow through to the licensee.

If one wants to enjoy the "benefits" of private credit, or a tasty burger, the banks or local drive thru's are there for your convenience.

If one has an issue with the corporate master, it must be taken up directly, or with an authorized agent of the corporation, not its franchisee.

otherwise, good info. However, getting something 95% correct is akin to being a little pregnant.