0 votes

How to end the Federal Reserve (possibly)

First lets start with the definition of one dollar...in 1792 congress wrote a bill called "an act establishing a mint and regulating the coins of the united states" In this act, they described the dollar and defined it as "Dollars Or Units- Each to be the same as a Spanish milled Dollar as the same is now current, and to contain 371 4/16 parts of a grain of pure, or 416 grains of standard silver. That is the money of account of the united states"
Next we look at a current "dollar bill". Note the most important words of "Federal Reserve Note".
Next we look up the definition of the word note in a financial dictionary and come up with...."A written promise to pay a specific sum of MONEY on a certain date" now since the date for that note to come due is not specified on a dollar bill we can only assume that makes it open ended...meaning it can be collected at any time.
480 grains of silver make one troy ounce...so 416 would be .86 troy ounces of silver. What I propose is a giant protest in which everyone against the Fed decides to call their federal reserve notes due on the same day. The Fed is legally bound to pay their notes to the holder of those notes. It stands up in the full court of law. While the Fed may hold some silver, the question is do they hold enough to pay us all off without failing? Go ahead Ben...print all the FRNs you want...it wont get you out of this mess should it ever happen.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

I wonder if any enterprising robber has ever...

defended himself in court with the argument that, since Bernanke cannot define the value of a "dollar" that he cannot be charged with a felony vs. a misdemeanor?

They will give you B.S. about the note being legal tender

and that it is not a certificate and infact "real money". Which is a load, but you'll need to know that is what you will hear.

The easiest way to "defeat the fed" is simple, non-violent, a passive act, not a conspiratoral plot in any way shape or form. You and friends, family, and other community members to buy gold and silver in enough individual quantities that you can use in a dollar collapse enviornment as a substitute for normal day to day trading. If the fed, imf, world bank, or other private central banks try to swindle the public again with another fiat currency, simply have the community officially legalize/recognize/promote/accept as offical payment the new gold/silver exchange.

The fed and the government are cutting their own throat currently and are doing nothing to stop their destruction and in the case of the government their bankrupcy.

Just step back, get your finanical house in order, get your ability to trade with your neighbors without an official functioning dollar in order. All of our national and personal debt is denominated in Federal Reserve Notes. None of our debt is based on any form of commodity backed currency.

It doesnt matter if the note

It doesnt matter if the note is legal tender...its still a note...therefore a contract...they can say what they want, but when the contract is called due they have a legal obligation to pay in real money....as described in 1792. Sure you can pay your debts with FRN....but this is not so much about as what is considered legal tender as it is about calling a legally binding contract due.

I agree with you..

Everything you said is accurate which I did try to point out.
Still, buy gold and silver.