An exchange contract at its finest

An exchange contract at its finest ... LOL

“ … EXCHANGE CONTRACTS COULD EASILY BE COMPOSED TO THWART ITS [FRN'S] USE IN EVERYDAY COMMERCE.” [“Money, Credit and Velocity,” Review, May, 1982, Vol. 64. No. 5, Federal Reserve Bank of St. Louis, p. 25]

Dear IRS and CRA

Enclosed is my 2005 tax return showing that I owe $3,407.00 in taxes. Please note the attached article from USA Today, wherein you will see the Pentagon is paying $171.50 for hammers and NASA has paid $600.00 for a toilet seat. I am enclosing four toilet seats (value $2400) and six hammers (value $1029), bringing my total remitted to $3429.00. Please apply the overpayment of $22.00 to the "Presidential Election Fund," as noted on my return. You can do this inexpensively by sending them one 1.5" Phillips Head screw (article from USA Today detailing how HUD pays $22.00 each for 1.5" Phillips Head Screws is enclosed for your convenience.) It has been a pleasure to pay my tax bill this year, and I look forward to paying it again next year.

Sincerely,
A Satisfied Taxpayer

Modern monetary systems have a fiat base – literally money by decree – with depository institutions, ACTING AS FIDUCIARIES, creating obligations against themselves with the fiat base acting in part as reserves. The decree appears on the currency notes: “This note is legal tender for all debts, public and private.” While no individual could refuse to accept such money for debt repayment, EXCHANGE CONTRACTS COULD EASILY BE COMPOSED TO THWART ITS USE IN EVERYDAY COMMERCE. However, a forceful explanation as to why money is accepted is that the federal GOVERNMENT REQUIRES IT AS PAYMENT FOR TAX LIABILITIES. Anticipation of the need to clear THIS DEBT CREATES A DEMAND FOR THE PURE FIAT DOLLAR. [“Money, Credit and Velocity,” Review, May, 1982, Vol. 64. No. 5, Federal Reserve Bank of St. Louis, p. 25]