Thank you that is a big help. So when you receive money from a bank from cashing a check with limited endorsement you write on the back of each bill you receive, "Redeemed lawful money per 12-USC-411" What about fdr you pick up as change in circulation. Can you just write on the back of any bill that you have. Who records and when are the serial numbers recorded. I really appreciate you taking the time to explain things. I'm sure this will help other understand also. rken Quoting: rken
Any FRN that comes into my possession is Lawful money. Most people get a simple stamp and stamp the backs of FRN's. To me, it is just one more hit against the Federal Reserve and people who see it on money might just look it up and see what it means.
All FRNs are eventually inspected by bank employees for circulation status. It is my understanding at Regional banks, there is one management level employee who is in charge of all "lawful money" demands and/or accounting. This is above the average bank managers pay grade, and not known by any teller I have ever spoken too.
If, for whatever reason, you need more proof of lawful money, the most tellers will give you a FRN and upon request, write on the receipt "lawful money" and then record the serial number of the FRN on the receipt and initial it. Post offices will do this also. Most court clerks and recorders will do this as well.
This might be important when paying taxes on property, for example, then you will have a paper trail that you actually PAID the property tax and did not just promise them a payment next year with credit.
Remember, even $1 in Lawful money is worth more than any amount of credit or sero/negative value FRNs.
That would show the property purchased or tax paid with Lawful money is NOT LEANED by the Federal Government nor the Federal Reserve. Can you think of a situation where that might make a difference?
Remember, FDR said nobody can be compelled to pay the national debt. This also has ramifications when we know about the "trading with the enemy act".
Abe Lincoln: "It denounces as public enemies all who question its methods or throw light upon its crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe."
What "enemy" could the Average american be "trading" with to subject him or her to the Trading with the enemy act?
Maybe the same enemy which Abe was talking about?