IN CASE YOU MISSED IT
OCTOBER 1, 2023
It is a commonly known historical fact that President Nixon ordered the U.S. TREASURY DEPARTMENT to cease and desist printing UNITED STATES NOTES and to replace them with FEDERAL RESERVE NOTES.
What is less known is that the FEDERAL RESERVE is not an agency of the U.S. GOVERNMENT; it is a private corporation.
So, how was it that UNITED STATES NOTES were legally supplanted by NOTES issued by a private entity?
The answer lies in FEDERAL RESERVE ACT SECTION 13, wherein “CURRENT FUNDS IN LAWFUL MONEY” is the first item listed as being acceptable for deposit in any FEDERAL RESERVE BANK, and FEDERAL RESERVE NOTES are also listed; coupled with the judicial ruling PRECEDENT COURT CASE RULING THAT IBOE AND PN ARE CASH FUNDS that a “Note is to be treated as cash”.
That ruling transformed every Note issued by any entity, including the FEDERAL RESERVE, into “cash”, or CURRENT FUNDS IN LAWFUL MONEY.
In recognition of their use as CURRENT FUNDS IN LAWFUL MONEY, President Nixon negotiated with the FEDERAL RESERVE for the annotation “THIS NOTE IS LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE”, underscored with the signature of the UNITED STATES SECRETARY OF TREASURY, to be placed on each such NOTE.
But the Court ruling was not limited to FEDERAL RESERVE NOTES; rather, it included FEDERAL RESERVE NOTES.
What seems to be even less realized is that BILLS of exchange are also, as per that ruling, to be “treated as cash”.
And, as may be negotiated, a BILL OF EXCHANGE valued in UNITED STATES DOLLARS may be signed by a U.S. FEDERAL COURT OFFICER in recognition that it is “to be treated as cash”.
In fact, it may be considered that such a signature carries more legal weight than the signature of the TREASURY SECRETARY because the judicial branch of government has final authority, lacking a congressional law being passed that specifically dictates otherwise.
However, it seems the final “legal litmus” for any form of CURRENT FUNDS IN LAWFUL MONEY is its being lawfully convertible to LEGAL TENDER such as FEDERAL RESERVE NOTES.
In the case of COFFEE IBOE and FIDES IBOE, valued in UNITED STATES DOLLARS, such conversion may be accomplished through commerce, or through CLEARING or EXCHANGE as they may specify, deposited in specified coordinates through IOLTA in major USA banks; thus, in our view, qualifying as cash and as CURRENT FUNDS IN LAWFUL MONEY.
In fact, such conversion and deposits do not require special approval because they are accomplished through means that are of common use in worldwide banking
For more information send an email to attorney@change2100.com