monetizing a CPN??

sadie · #1 01-07-2005, 05:10 PM

If a CPN is a negotiable instrument can the bank accept this and deposit it like they do our "promissory note" signed agreement?

Can it be used to set up a new deposit account and create money from it tenfold as in Modern Money Mechanics?

If so then it would be to their benefit to accept it create more money then do their journal entry magic to get rid of the CC account and the new CPN account after they made all this new " money".

Thoughts please.

#2 01-08-2005, 12:13 AM

i think that is incorrect thinking.

your cpn, tendered against the alleged CC debt only discharges the CC debt. therefore, it is a wash...

i could be wrong, however.

jon

#3 01-08-2005, 01:01 AM

no, the only reason they wouldnt do it is because the feds would come down on them for exposing the fraud. who would slave and work for them if they let it out the bag that your personal promissary note is equivalent to a federal reserve note.

vanton57 · #4 01-08-2005, 06:41 AM

I'll throw my 2 cents in on this one. Many folks have gone to the big house for doing what you are suggesting.

Remember the CPN is discharging from the private side a public debt. (Reduces the public debt) It's a bookkeeping entry.

Please don't try this because we'd have to be sending care packages to you......

gregtu · #5 01-08-2005, 06:47 AM

Please do not try this at all!!!

iamfreeru2 · #6 01-08-2005, 08:45 AM

I agree. The CPN or BoE should never be used as a cash item. It is for offset and adjustment only. Like Vanton said "It's a bookkeeping entry."

Jerseee · #7 01-08-2005, 11:32 AM

ditto. ditto ditto

sadie · #8 01-08-2005, 05:44 PM

I'm not using it as cash!!!! But what would prevent the bank from using it the same as a check?

vanton57 · #9 01-09-2005, 04:38 AM

The Creature from Jekyll Island by G. Edward Griffin.

It is a well written book and not as dry of a reading as you may think. He goes back and gives the history and evolution of the federal reserve system, and the reasons for its existence.

If you haven't read this one, it may help answer some of the questions your asking here to understand how the system is working.

iamfreeru2 · #10 01-09-2005, 04:49 AM

Quote:

Originally Posted by sadie

I'm not using it as cash!!!! But what would prevent the bank from using it the same as a check?

The banks can do as they like with them. What does that matter? All we are interested in is that they accept it as discharging the alleged debt. It is as simple as that and nothing more. Just correct the record to show the account is now zero.