Redemption of FRN??

[GenXPatriot]

I have been reading a few articals as well as checking the USC and Federal Reserve Code about redeeming FRN for "Lawfull" money (National Currency).

Has anyone tried it?
Results?

[netwrkranger]

http://www.suijuris.net/forum/asset-...es-please.html

[GenXPatriot]

How did I guess you would be the first to respond lol.

Thanks for the link I will give it a check.

[David Merrill]

This suitor redeemed lawful money for the filing fee.

[GenXPatriot]

I will read it all the way later. I was asking because I want to go to my local Federal Reserve Bank branch and exchange my FRNs for US Notes and coin. I have a few friends that would like to do the same also. Haven't seen anything that says we can't.

[David Merrill]

The gold seizure of 1933 says you can't.

Here is the original remedy (attached). Compare it to now, amended in 1934 to accomodate FDR's gold seizure.

http://www.law.cornell.edu/uscode/ht...1----000-.html

http://www.law.cornell.edu/uscode/ht...000-notes.html

That is it in a nutshell. But I threw together a Sunday-afternoon video about it.

http://www.silverbearcafe.com/private/convincing.html
http://video.google.com/videoplay?do...06869308133588


It lost a lot of density when somebody put it on YouTube so open the text while you listen to the computer voice to get the most out of the first viewing of the 1984 article.

Many patriots have tried your tactic - until, so I hear, you cannot even get into the Fed bank. The real failure is that you admit to bringing private credit to the bank door and you have already gotten all the junk that goes with it - tax liability for one thing. So don't waste that expensive gasoline getting to a Fed bank now.


Regards,

David Merrill.

[antjraf]

Originally Posted by David Merrill

The gold seizure of 1933 says you can't.

Here is the original remedy (attached). Compare it to now, amended in 1934 to accomodate FDR's gold seizure.

http://www.law.cornell.edu/uscode/ht...1----000-.html

http://www.law.cornell.edu/uscode/ht...000-notes.html

That is it in a nutshell. But I threw together a Sunday-afternoon video about it.

http://www.silverbearcafe.com/private/convincing.html
http://video.google.com/videoplay?do...06869308133588


It lost a lot of density when somebody put it on YouTube so open the text while you listen to the computer voice to get the most out of the first viewing of the 1984 article.

Many patriots have tried your tactic - until, so I hear, you cannot even get into the Fed bank. The real failure is that you admit to bringing private credit to the bank door and you have already gotten all the junk that goes with it - tax liability for one thing. So don't waste that expensive gasoline getting to a Fed bank now.


Regards,

David Merrill.

But, what if he carries in lawful US Notes in the form of FRNs accompanied with a notarized affidavit from the bank which redeemed lawful money for him and verified the serial numbers on the "bills" that were issued to him?

What would happen at the Fed then?

[GenXPatriot]

Originally Posted by David Merrill

The gold seizure of 1933 says you can't.

Here is the original remedy (attached). Compare it to now, amended in 1934 to accomodate FDR's gold seizure.

http://www.law.cornell.edu/uscode/ht...1----000-.html

http://www.law.cornell.edu/uscode/ht...000-notes.html

That is it in a nutshell. But I threw together a Sunday-afternoon video about it.

http://www.silverbearcafe.com/private/convincing.html
http://video.google.com/videoplay?do...06869308133588


It lost a lot of density when somebody put it on YouTube so open the text while you listen to the computer voice to get the most out of the first viewing of the 1984 article.

Many patriots have tried your tactic - until, so I hear, you cannot even get into the Fed bank. The real failure is that you admit to bringing private credit to the bank door and you have already gotten all the junk that goes with it - tax liability for one thing. So don't waste that expensive gasoline getting to a Fed bank now.


Regards,

David Merrill.

Not allowed in to a Federal Reserve Bank?

I know it can't be redeemed for gold. However we do have US Notes and coins (non gold)

Did I misunderstand or not read correctly
12 USC 411
or
Federal Reserve Act - Section 16 - Paragraph 1

Any clarification would be helpful.

And am I correct in thinking quarters, dimes, nickles, pennies are non-FR money?

Thank you all for your input.

[indio007]

Originally Posted by GenXPatriot

Not allowed in to a Federal Reserve Bank?

I know it can't be redeemed for gold. However we do have US Notes and coins (non gold)

Did I misunderstand or not read correctly
12 USC 411
or
Federal Reserve Act - Section 16 - Paragraph 1

Any clarification would be helpful.

And am I correct in thinking quarters, dimes, nickles, pennies are non-FR money?

Thank you all for your input.

The are legal US tender in script i believe. Not really lawful coin because they are not the right purity. The gold dollar The coins are not redeemed at the exchange rate of it's constituent elements. US script floats just like paper and doesn't not constitute payment. It's still the discharge of debt.

[David Merrill]

Originally Posted by antjraf

But, what if he carries in lawful US Notes in the form of FRNs accompanied with a notarized affidavit from the bank which redeemed lawful money for him and verified the serial numbers on the "bills" that were issued to him?

What would happen at the Fed then?

Why redeem lawful money twice? That would be the waste of gasoline I was warning about.

Originally Posted by GenXPatriot

Not allowed in to a Federal Reserve Bank?

I know it can't be redeemed for gold. However we do have US Notes and coins (non gold)

Did I misunderstand or not read correctly
12 USC 411
or
Federal Reserve Act - Section 16 - Paragraph 1

Any clarification would be helpful.

And am I correct in thinking quarters, dimes, nickles, pennies are non-FR money?

Thank you all for your input.

Maybe you can get in but at best they will give you more FRNs. I heard that security will send you on your way as soon as you bring up what you are trying to do. The 1984 article in my video focuses primarily around coins and seems to presume that in 1984 anyway, there were still US notes to be had. US notes are inelastic currency and FRNs are elastic - ergo FRNs are not considered lawful money in themselves unless you bond them yourself. If you look at that pre-1934 remedy it will make no sense unless you consider the FRNs as stock certificates in the Fed. Therefore if you do not redeem them in lawful money by non-endorsement of private credit, the FRNs in your pocket make you the reserve bank spoken of in the Fed Act.

Logic dictates that FRNs can still be redeemed in lawful money. But in a fancy Act of Congress making legal tender, both FRNs and US notes, seem synonymous as lawful money people seem to think the remedy has somehow gone away. No the remedy is still in full force and effect. You have to accept your US notes in the form of FRNs but since you did not endorse private credit, your demand to redeem lawful money with your paycheck is on the record.

So you have redeemed the lawful money and the national debt by the amount on your paycheck.

Originally Posted by indio007

The are legal US tender in script i believe. Not really lawful coin because they are not the right purity. The gold dollar The coins are not redeemed at the exchange rate of it's constituent elements. US script floats just like paper and doesn't not constitute payment. It's still the discharge of debt.

I started a thread a while back private currency exchange, or something like that. The coins do not differentiate themselves to be divisible into FRNs or US notes. And that is why gold is still earmarked at $42.22/ounce for uses in the UN's IMF Trust Fund for SDRs - Special Drawing Rights = paper gold.

http://www.federalreserve.gov/releas...0408assets.htm

Look carefully at the footnotes. You could redeem the $42 in lawful money in the form of FRNs but it would be the $.22 that would collapse the gold window between the earmarked value from the late Seventies and Spot ($1K/ounce). You would be holding the proof that those coins hold two vastly different values between the coins as lawful money and divisions of FRNs.


Regards,

David Merrill.