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Case Cites on Lawful Money
Hi All,
Heh... For more than two years now, I have been cutting and pasting anything and everything that even appeared to have a hint of relevancy.... lol
What a mess !!
Anyway, I hope this is constructive....
Current Law: No State Shall Make Any Thing But Gold And Silver Coin A Tender In Payment Of Debt. (U.S. Constitution, Art. 1, sec. 10)
Current Law: 31 United States Code 371: "The money of account of the United States shall be expressed in dollars or units, dimes or tenths, cents or hundredths, and mills or thousandths, a dime being the tenth part of a dollar, a cent the hundredth part of a dollar, a mill the thousandth part of a dollar, and all accounts in the public offices and all proceedings in the courts shall be kept and had in conformity to this regulation."
The question was put to an attorney: Is Article 1, section 10, of the United States Constitution, particularly the words "No state shall... make any Thing but gold and silver coin a tender in payment of debt..." still binding on a State?
He replied, in writing, "...the only lawful answer is Yes. Meant to 'crush paper money' by unanimous consent of the constitutional Convention of 1787, this section prohibits the States from imposing upon the people a paper currency, paper money, or anything else other than gold or silver coin as a medium of exchange in the discharge of debts.
Since the Constitution can be changed by amendment only, and since no amendment has changed this section, no federal action can excuse a State of this prohibition.
The effect of this section is thus:
If a paper FRN is delivered to, or received from a State-authorized party without particular objection to its being an unlawful tender under Article 1, Section 10, no Constitutional question has arisen, and the payor/payee, in remaining silent, has renounced his individual rights flowing from the Constitutional prohibition.
Those rights are the following:
A. Discharge of the debt in gold or silver coin, if provided for in the debt;
B. Dismissal or forgiveness of the debt altogether, if the debt is not denominated in gold or silver coin, since any rule or judgement that is repugnant to the Constitution is void, invalid, and without effect.
As with other rights, the right to gold and silver coin, and the right to be forgiven of any debt not denominated in same, are considered waived unless properly and timely asserted."
Specifically regarding "notes" and such, the courts have had some equally interesting things to say:
"They had a certain contingent value, and were used as money in nearly all the business transactions of many millions of people. They must be regarded therefore, as a currency imposed on the community by
irresistable force." 75 U.S. 11
"Considered in themselves, and in the light of subsequent events, these notes had no real value, but they were made current as dollars by irresistable force. They were the only measure of value which the people had, and their use was a matter of almost absolute necessity. And this use gave them a sort of value, insignificant and precarious enough it is true, but always having a sufficiently definite relation to gold and silver, the universal measure of value, so that it was always easy to ascertain how much gold and silver was the real equivalent of a sum expressed in this currency." 75 U.S. 13
"One is said to act in a fiduciary capacity when the business that he transacts, or the money or property which he handles, is not his own..." A "fiduciary relation" can include "informal relations which exist whenever one man trusts and relies upon another--it exists where there is special confidence reposed in one who in equity and good conscience is bound to act in good faith and with due regard to interests of one reposing the confidence." Black's Law Dictionary, 4th ed.
The Federal Reserve itself tells you that it is "confidence" that is the reason that anyone at all accepts FRNs! By accepting the government's
obligations in good faith and confidence, besides becoming a fiduciary (with a corresponding duty, making you "subject" to specific performance,
you then become an "accomodation party", in effect becoming like a co-signor for the government's debts. Until the Federal Reserve has been fully paid for use of it's special paper, it has a lien upon all that you have acquired with it. Thus that man that passed the FRN to you does not really own your goods - now the Fed owns them, although they do not have possession of them. It is like the plantation owner, who owns the clothes on the backs of his slaves.
Don E. Williams Co. v. Commissioner of Internal Revenue, 429 U.S. 569 (1977): Notes cannot pay debt, debt cannot pay debt.
"No state shall make any thing but gold and silver coin a tender in payment of debts." U.S. Constitution, Article 1, section 10, never amended. Thus, any other form of promised money is a fraud.
"Federal Reserve Notes are not legal money." Justice Martin V. Mahoney, Credit River Township, Dec. 7-9, 1968 in Jerome Daly vs. First National Bank of Montgomery, Minn.
BT: Thanks for your additions...
For HIS Glory,
Akira
__________________
Akira = Akira-
Counselor in Law (student) - I live it, I don't 'practice'
No post is ever intended as 'legal' advice. Lawful perspectives discussed openly.
"Pro and Con are opposites, this is plainly seen.
If progress means 'to move forward', what does congress mean?" - Nipsy Russel
"It's not the will to win, it's the will to prepare to win." - Bobby Knight
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