[mandalisj]

Originally Posted by ThomPaine

Great post man, not that I understood it all, but it seems like you do, so let's break things down a bit, maybe based on common concepts, which may also be misconceptions, so please correct me if I am wrong.

Go reread it slowly, take the time to understand it. I don't want you to confuse anyone with your posts. What the lawful par value of a dollar is as measured in gold is the key concept to understand regarding all of these various redemption and national bankruptcy issues. Many on here already have most of the information they need, they just need to understand that the par value of a dollar is as a weight of gold, in order to understand what the contracts are really saying.

Consideration: The inducement into a contract, typically motive, price, influence, etc. Basically the reason for entering a contract.

Correct. It could be a building, farm, promise to perform an act, or even the deposit of credits in a transaction account that the government accepts for the payment of taxes INSTEAD of gold.

Example: I want to acquire a dirt bike and a friend offers to sell his for $1000 which I think is a good deal, so I give him $1000 in FRNs. He has $1000 and I have his bike, both agreed they have something worth $1000 and are happy. I could have traded him a sofa that was 'worth' $1000 for his bike that was worth $1000 just as easily, so long as we both agreed on it, its a valid contract.

Correct ... but you do understand that basically by signing a contract valuing the consideration at $1000, the parties are saying legally saying that the bike and sofa (or Federal Reserve notes) are worth $1000/$42.2222 or 23.68422299169631141911127321646 OUNCES OF GOLD! Seems a little steep don't you think? Can you buy 23 ounces of gold with a $1000 'worth' of Federal Reserve notes? Do you understand that this is why the gold and silver coins minted by the government cannot have a face value greater than their par value?

Valuable Consideration: A class of consideration, upon which a promise to pay may be founded. It entitles the promisee to enforce his claim against an unwilling promisor.

Correct ... however the sixty four thousand dollar question is WHAT IS THE (gold) VALUE OF THE CONSIDERATION? For consideration to be legal, it MUST HAVE A SUM CERTAIN IN MONEY (gold) ONLY! AND THAT THE VALUE OF THE CONSIDERATION IS BASED ON THE PAR VALUE OF GOLD AT $42.2222 PER OUNCE! Think of it like this - what is the weight of the consideration in terms of gold at $42.2222? On one side of the scale called 'value' there is the consideration, on the other side there is an ounce of gold for every $42.2222 in consideration.

Example: I agree to pay my buddy $1000 next week when I get my bonus and he says I can go ahead and take the bike. I dont get my bonus and cant pay him or refuse to, so he can take back the bike, as it was never paid for. Likewise if I never brought him the sofa.

or he could say 'no give backs' or 'for keeps' and refuse to take the bike back and sue you for $1000/42.2222 ounces of gold ...

Credit: The right granted by a creditor to a debtor (or buyer) to defer payment of the debt.

The right granted by a creditor to a debtor to NOT pay the debt AT ANY TIME ...

Without getting into lots of technicals, everyone has a concept of credit, whether on a gas card or credit card or receiving goods for a business and then paying an invoice at some later time. In accounting, credit increases revenues, liabilities and equity and decreases assets and expenses.

That is THEIR CREDIT NOT YOURS ... YOUR Credit is the ability to tell someone that THEY DON'T OWE YOU (gold) MONEY and it is unlimited ... the seller of the bike can always say, 'hey don't worry, i'll credit you and we'll call it even ... '

keep in mind that the government has agreed to accept the credit of Federal Reserve banks INSTEAD OF gold for the payment of taxes ... the government does not have to accept YOUR credit as good as gold (at $42.2222 per ounce) in payment of taxes ...

Currency: Coined money and banknotes or other paper currency as authorised by law, circulating as a medium of exchange.

Correct. Anything with a CREDIT VALUE that has been agreed to by the parties can be currency ... to the mob, the right to pick up garbage and charge for it in a certain area is currency ... what they call 'juice' ...

Money: Coins and paper currency, circulating as a medium of exchange, but does NOT embrace notes, bonds or evidences of debt.

NOOOOOOOOOOOOOOOOOOO!!!!!!!!!! NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, NO, A THOUSAND TIMES NO! (as i try to hit you upside the head with a bag of gold coins slightly over one ounce each that say $50 on them)

Paper currency by definition is a note evidencing a debt. Essentially the banks and government say they will accept the paper CREDITS denominated in lawful (gold) money INSTEAD of gold. Credit cannot be denominated in credits, it has to be denominated in money.

THIS ALONE IS LAWFUL MONEY


Look right on there, the coin that weights 1.0909 troy ounces of 0.91670 fine gold (50/1.0909*0.91670=~42) says FIFTY DOLLARS!

THE VALUE OF AN OUNCE OF PURE 100% GOLD IS $42.2222 (while the PRICE trades much higher so the Federal Reserve can rip everyone off)

THIS IS A NOTE FOR GOLD MONEY DENOMINATED CREDITS ACCEPTED AT PAR BY THE GOVERNMENT AND BANKS INSTEAD OF LAWFUL GOLD MONEY



NEITHER THE GOVERNMENT NOR THE BANKS CAN DEMAND LAWFUL GOLD MONEY WHEN YOU HAVE THEIR CREDITS.

I am sure this discussion could go on and on and on about how banks create credit, how the FED works, etc., but I am thinking that we should run with your Banking 101 concept and make this a very simple and basic explanation that everyone can understand. Maybe even a Banking 100 with definitions of terms and concepts.

You don't need more information. What you really need is to eliminate the information that you already have which is confusing. You can try all the remedy regarding redemption and sovereignty that you want, however if you don't understand the (gold) VALUE of the contracts in which you are involved you will never get anywhere. A more appropriate title for my article would have been 'wizard banking for muggles 101' ... who cares about normal banking? Basically signing on the dotted line and working for them for the rest of your life is what they want. Don't you know that already? I am interested in sovereignty.

However I do appreciate your questions, and I want everyone to understand the par value of one dollar (in your contracts) is a weight of gold much higher than what a one dollar Federal Reserve credit is worth despite the fact that it is good for the payment of taxes at par in lieu of lawful golden money. Don't make this more complicated than it needs to be. The reality is deceptively simple.

The fact that no creditor can accept gold is why you can pay off your debts with YOUR OWN paper. THEY ALREADY AGREED TO ACCEPT YOUR CREDIT FOR VALUE WHEN THE DEBT WAS INCURRED DIDN'T THEY? Just make sure that it is for CREDIT ONLY and NOT redeemable in lawful (gold) money. Also, do not pretend that it is GOOD FOR THE PAYMENT OF TAXES like their credit is and don't send any letters to the treasury stating so or you will end up being prosecuted, and rightly so. The fact that banks accept YOUR CREDIT (when you sign the note) as VALUABLE (golden) CONSIDERATION and then get you to repay them with THEIR CREDIT is the biggest secret in the world. If this information became widely understood the world would be free.