Acceptance Process

[clarkee]

Originally Posted by Notorial dissent

Clarkee,

One. There is ONLY one account that is called a TDA account, and it is a Treasure Direct Account, and that is ONLY used for the purchasing of Treasury securities, and they are of high denomination, and individuals generally do not qualify for them. Plus, they are only one way, money going into the treasury.

Two. The Treasury does not act and never has acted as a checking account for anyone but the government. They may issue checks/payments to individuals, but it is from pre-established government accounts, read IRS refunds, pension payments, disability payments, whatever, and they are on gov’t accounts not individuals.

Three. There are no payment accounts anywhere that will consist of your social security number in any form. They may reference your social security number for IRS or social security payments or as a taxpayer id, but that will be all.

When you show me something from the Dept of the Treasury that says you have a TDA, or any other type of account with them, then I will believe you, until then NO.

Well, you see, they have this special file for documents/information like you sent to the Treasury, and it is generally round about about 18" deep and is where they put the rest of the waste paper.

Question. If I owe one neighbor $100 and have an IOU from another neighbor for $100, and the neighbor I owe the money to accepts the IOU as payment, then is not my debt discharged?

Sure it would be discharged because its both on the private side of your account. What about public debt? Do banks or lending institutions do that? I don't think so.
I sign a promise to pay(IOU) and they give me a check.
One for one swap. Is that discharged, no. So, in your opinion, how would that be discharged? I think I know your response but I'll wait.

[Notorial dissent]

Originally Posted by clarkee

You can't pay a debt with a debt

So let’s be clear about this, you are now saying that I can pay a debt with a debt(IOU), when before you said uncatagorically that you could not pay a debt with a debt.

So which is it?

[robhalford88]

Originally Posted by Notorial dissent

Question. If I owe one neighbor $100 and have an IOU from another neighbor for $100, and the neighbor I owe the money to accepts the IOU as payment, then is not my debt discharged?

That is TOTALLY different to passing an FRN. An IOU is not borrowed into existence and has no interest on it. So, the IOU is not a debt instrument like our friend was referring to.

[aksis]

clarkee, I believe Gray is clear. In relation to the mechanic, are you a creditor, and that person the debtor?

If not, how do you intend to accept their work for value and offset aginst the debt they owe you? They owe you nothing, and you have incurred a debt to them.

[Dillon Hunt]

Originally Posted by robhalford88

That is TOTALLY different to passing an FRN. An IOU is not borrowed into existence and has no interest on it. So, the IOU is not a debt instrument like our friend was referring to.

FRN's are legal tender this mean a legal Offer for all debts which one can reject or accept. Tender mean offer.

TENDER, contracts, pleadings. A tender is an offer to do or perform an act which the party offering, is bound to perform to the party to whom the offer is made.

[Notorial dissent]

Originally Posted by robhalford88

That is TOTALLY different to passing an FRN. An IOU is not borrowed into existence and has no interest on it. So, the IOU is not a debt instrument like our friend was referring to.

Sorry, an IOU is created out of a debt, so it too is borrowed into existence, and there is nothing to say it cannot be interest bearing. An IOU is a true debt instrument. After all, a promissory note is nothing but a fancy name for an IOU.

Originally Posted by aksis

clarkee, I believe Gray is clear. In relation to the mechanic, are you a creditor, and that person the debtor?

If not, how do you intend to accept their work for value and offset aginst the debt they owe you? They owe you nothing, and you have incurred a debt to them.

Clarkee is the debtor here, he owes the mechanic for repairing his car, the mechanic is the creditor as he has extended to Clarkee credit while fixing his car, and now must be paid. The rest is nonsense.

[fulltitle]

Originally Posted by Notorial dissent

Question. If I owe one neighbor $100 and have an IOU from another neighbor for $100, and the neighbor I owe the money to accepts the IOU as payment, then is not my debt discharged?

Without Prejudice.
#1. An IOU isnt necessarily a note.
#2. There is also such a thing as an 'offset'.

[robhalford88]

Originally Posted by Notorial dissent

Sorry, an IOU is created out of a debt, so it too is borrowed into existence, and there is nothing to say it cannot be interest bearing. An IOU is a true debt instrument. After all, a promissory note is nothing but a fancy name for an IOU.

An IOU is basically an invoice with a promise to pay attached. It is not borrowed into existence in the same manner as an frn. AN frn is created by the government borrowing the note from the Federal Reserve. They put the interest on top. The money supply is always smaller than the debt. How do you pay that back?

[Notorial dissent]

Originally Posted by fulltitle

Without Prejudice.
#1. An IOU isnt necessarily a note.
An IOU is exactly, precisely, necessarily, and always a note.
#2. There is also such a thing as an 'offset'.
Not in the context tried here.

Originally Posted by robhalford88

An IOU is basically an invoice with a promise to pay attached. It is not borrowed into existence in the same manner as an frn.
An IOU is NOT basically an invoice or any other such thing, it is by definition and fact a NOTE, a NOTE is by definition a promise to pay, and it is created as a debt by the borrowing of money.

AN frn is created by the government borrowing the note from the Federal Reserve. They put the interest on top. The money supply is always smaller than the debt. How do you pay that back?
An FRN is not the result of the government borrowing from the Fed. It is the result of the government selling paper, usually T-notes and bills, the FRN’s are issued on the govt’s behalf and backed by the gov’t securities sold.

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[robhalford88]

Originally Posted by Notorial dissent

An IOU is NOT basically an invoice or any other such thing, it is by definition and fact a NOTE, a NOTE is by definition a promise to pay, and it is created as a debt by the borrowing of money

An FRN is not the result of the government borrowing from the Fed. It is the result of the government selling paper, usually T-notes and bills, the FRN’s are issued on the govt’s behalf and backed by the gov’t securities sold.

1. An IOU is from someone extending you credit, that does not necessarily mean you have borrowed money.
2. You need to go review the process of the creation of money.

I can see that you are the typical naysayer. You provide nothing other than negativity in every thread I have seen you in.