Banking For Muggles 101, The Par Value Of A Dollar

[Levi Philos]

Freedom cannot be purchased with a currency that is centrally issued.

Centralized money and centralized power is [sic-are?] a symbiotic pair; neither can exist without the other.

Freedom can only be purchased with a decentralized open source medium of exchange where the producers of value participate in the creation of the symbols by which that value is exchanged in proxy, and the banker serves in an agency role to producers of value.

Levi Philos

[psholtz]

So if the par value of a dollar is $42.22/gold oz. and the "market" value of a Fed note (which masquerades as a "dollar") is $1000/gold oz., is it fair to say that the Treasury Secretary has defaulted on his obligation to keep the various forms of currency (i.e., "dollars") at parity w/ each other?

And that this default goes back at least to the breakdown of Bretton Woods on August 15, 1971?

Is there a place in the USC where we can find the Treasury Secretary is bound to keep such an obligation?

EDIT: Interestingly, John Connally, the man riding next to Kennedy when he was killed, was Treasury Secretary when Bretton Woods broke down. He would soon be succeeded by George P. Shultz.. That "P" in Shultz's name is "Pratt", the same "Pratt" that owns the "Pratt House" up on Park Avenue in NYC where the Council on Foreign Relations meets.

[psholtz]

Following up on my own post, I found in the U.S.C. where the Treasury Secretary is obligated to keep the various forms of U.S. currency all at parity w/ each other:

Except to the extent authorized in regulations the Secretary of the Treasury prescribes with the approval of the President, the Secretary may not redeem United States currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) in gold. However, the Secretary shall redeem gold certificates owned by the Federal reserve banks at times and in amounts the Secretary decides are necessary to maintain the equal purchasing power of each kind of United States currency. When redemption in gold is authorized, the redemption may be made only in gold bullion bearing the stamp of a United States mint or assay office in an amount equal at the time of redemption to the currency presented for redemption.

http://www.law.cornell.edu/uscode/31...9----000-.html

If you've got two currencies, one w/ purchasing power of $1000/gold oz. and the other w/ purchasing power of $42.22/gold oz., it kinda sounds like the Treasury Secretary has flubbed up his job, huh?

Is there grounds for filing criminal charges against the Treasury Secretary for this crime?

[farmer_giles_of_ham]

What crime? We just need to choose the right circuit.

That people have generally chosen to waive an option bears on them more than than anyone else. We are big kids now!

[psholtz]

Originally Posted by farmer_giles_of_ham

What crime? We just need to choose the right circuit.

That people have generally chosen to waive an option bears on them more than than anyone else. We are big kids now!

Your response may be slightly over my head..

I'm just alluding to the fact that the US Code seems to bind the Secretary to keeping all the currencies at equal purchasing power.

How does waiving any options affect that?

Are you saying that a matter like this could not be prosecuted in the traditional circuit courts?

[farmer_giles_of_ham]

Don't sweat my post, just being flip.

It looks like we can choose to endorse the private banking system and so kindly relieve the government from their obligations. "pay your fair share, do my bit, yada yada yada"