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Originally Posted by psholtz
My understanding also is that prior to Banker's Holiday in 1933, FRNs were only used and circulated amongst and between the Fed banks themselves... i.e., they were not used by the general public prior to 1933.
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I believe that. Prior to 1933 the people were not
Government bonds.
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Wait..
So I thought that Fed notes were "debt notes", etc, and did not represent lawful money??..
Does 12 U.S.C. §411 mean that I can go over to the Fed Reserve Bank in San Francisco and exchange my Fed Notes for gold?
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Better get a closer look at the video and the linked case. You can exchange FRNs for USNs in the form of FRNs. But doing so is nonsense because you already endorsed private credit to get the FRNs as FRNs.
United States notes are the "lawful money" in 12 U.S.C. §411.
http://friends-n-family-research.inf...ublicMoney.wmv
http://friends-n-family-research.inf...ney_case_1.jpg
http://friends-n-family-research.inf...ney_case_2.jpg
Regards,
David Merrill.