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Originally Posted by Shoonra
First, I don't know of any legal authority, especially since the end of the silver standard in the early 1970s, that says that FRN are "debt instruments."
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Do you have cognizance of the definition of the term "obligation"? If you do, then are you suggesting that the United States Code is NOT a legal authority? Please explain your position thoroughly.
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Originally Posted by Shoonra
Second, I don't know where you got the idea, but, yet, a debt might be paid with another debt in the right situation. For example, a US Treasury bond is undeniably a debt instrument, and I (and most anyone else) would accept it in payment of a debt and certainly do so in preference to any of the homebrew documents churned out by DiM.
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Where do you get your ideas? Please be specific, as this is going to be a really interesting comment on your part.
Jerry Carlos
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Summa Ratio est quae pro Religione facit.
If ever the laws of God and man are at variance, the former are to be obeyed in derogation of the latter.
'Many are the plans in a man's heart,
but it's the Lord's purpose that prevails."
Proverbs 19:21.
"The most important office in a democracy is the office of citizen."
Louis Brandeis, U.S. Supreme Court Justice (1916-1939) referring to the responsibility of voters.
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