Source: http://www.freedom-school.com/money/what_is_money.htm
Timestamp: 2019-04-20 06:27:46+00:00

Document:
12. The promissory note, even when payable on demand and fully secured, is still, as its name implies, only a PROMISE to pay, and does not represent the paying out or reduction of assets. See: Don E. Williams Co. v. Commissioner of IRS, 51 L.Ed. 2d 48 (Feb. 22, 1977).
33. Commercial banks are important financial institutions because they can create money -- checkbook money. See: Money's Economic Balance, Federal Reserve Bank of NY, P 17 (8th ed., 1979).
71. It will not do to say that their interest in the welfare of the state and their responsibility to their constituents will be sufficient safeguards against corrupt legislation of this or any other character. Suppose the powerful mining and other corporations doing business in this territory were to concentrate a heavy and combined moneyed influence upon a corrupt and venal legislature -- an institution not entirely unknown to the history of our republic -- and should procure the passage of an act making their certificates of stock lawful money in the payment of taxes, I think it would be difficult to find a lawyer who valued his legal opinion as worth anything, who would be willing to defend such an act as valid. See: Haas v. Misner, 1 Idaho 170, 178.
74. According to State v. Thomas money was property but Federal Reserve notes are only a claim on property and, Federal Reserve notes shall be redeemed in lawful money--not legal tender. See: State v. Thomas, 12 USC 411.
80. The extension of credit is not the giving of value. See: UCC §3-303:0; Atkinson v. Englewood State Bank, 141 Colo 436.
83. Fair and reasonable value means the best price to be at once in money -- cash being the antonym of credit-- cash value importing value in money. See: State v. Woodward, 93 SO 826, 208 Ala 31.
129. The USA has no inland jurisdiction Arndt v. Griggs, 134 US 316 and thus cannot compel one, upon one's proper objection, to obtain, use, tender, nor alienate any private negotiable instruments-- not excluding FRAUDS (Federal Reserve Accounting Unit Devices), and this was held so by the state supreme courts, even when federal gold and silver coins were in existence (see ALZR administrative agency related fines, taxes, bails, etc. See: Perry v. Washburn, 20 Cal 318; Lane County v. Oregon, 7 Wall 71.
Mr. LANGDON had rather reject the whole plan than retain the three words "and emit bills." ---The motion for striking out carried. On August 28, Article 1 Section 10 was debated. The standing version was worded this way: "No state shall coin money; nor grant letters of marquee and reprisal; nor enter into any treaty, alliance, or confederation; nor grant any title of nobility."
138. . . . Bank notes which are issued for circulation by authority of law, and are in actual and general circulation at par with coins, as a substitute for coin, interchangeable with coin, bank notes which actually represent dollars and cents, and are paid and received for dollars and cents at their legal standard value. Whatever is at a discount --- that is, whatever represents less than the standard value of coined dollars and cents at par- --does not properly represent dollars and cents and is not money. See: Klauber v. Biggerstaff, 47 Wis. 551.
Actually, the State common law court is created by the judicial portion of your State constitution. In the Oklahoma constitution, it's Article VII. The "statutory" court, a/k/a "private" court, is convened in the framework of the Uniform Commercial Code; the UCC proceeds "in the course of the civil law" where your constitutional State court, in law, proceeds "in the course of the common law."
This is where the "one form of action" crap began screwing things up as early as 1842. Law proceeds in the course of the common law; equity proceeds in the course of the civil law. Equity has only a civil side. The form of pleading is approximately the same as the UCC, but our respective States constitutions, except in Louisiana, incorporate provisions in the bill of rights that prohibit depriving us of life, liberty or property except by due process of law, "in the course of the common law". This corresponds with the Fifth Amendment of the U.S. Constitution.
All Federally-chartered financial institutions proceed in the framework of the UCC. This is an "adopted act" in each of the several States, and under Conflict of Law Doctrine, which Oklahoma statutes actually set out, adopted acts must yield to original acts, the Constitution of the United States and constitutions of the several States included.
In another forum, I related the definition of "credit" in the Federal Consumer Credit Protection Act; Truth in Lending Act (Title 15 U.S.C.), as set forth in Regulation Z (12 CFR 226): "'Credit' means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment."
I spent much of December researching bank business, which is the way I stumbled across that definition, then in the last week I went to the State code; in Oklahoma Statutes, the UCC is Title 12A, & our Consumer Credit Code is Title 14A. These are both uniform acts generated through the Council of State Governments, so each State will have them.
Now, here is where the cross-over is via State codes. The definition of "credit" in the Oklahoma Consumer Credit Code, which accommodates the Federal, is at 14A O.S. Ann. 1-301(7): "'Credit' means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment."
This has to be considered in the context of Article I, Sec. 10, clause 1 of the U.S. Constitution: "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit..."
Now for our pivotal question: Can the legislature of a State grant an authority which the Constitution of the United States prohibits the State from exercising? Obviously, no. Yet the UCC accommodates the whole Federal Reserve-related fraud, including the private scrip Federal Reserve (bank) Note, and "public money", both of which are predicated on "obligations of the United States".
How is it that Fed.-member banks can grant authority for someone to defer payment of debt, or to incur debt then defer payment? I don't find that power enumerated for the United States or the State in their respective constitutions. Therefore, the whole Fed scam must be limited to territory of the United States where Congress has plenary or municipal power under the territorial clause, which is Art. IV, Sec. 3, clause 2 of the Constitution. This is borne out via the definition of "State" in Regulation Z and elsewhere. Yet even if Congress had this authority, it could not be delegated to private enterprise -- it would be a function of Government of the United States.
There we have the key. National banking associations are formed by five or more people to provide a limited range of financial services to officers and employees of United States Government and/or political subdivisions of the United States. Once formed, they become members of the Federal Reserve, and must subscribe to FDIC insurance. FDIC insurance insures only accounts of "public money", and the only people entitled to use of "public money" are officers and employees of United States Government, etc. Then they apply and become "Federal Tax and Loan Depositaries" (see 31 CFR Part 202 et seq), and once they are certified as such, they serve as "fiscal agents" of the United States. They also apply to become Federal Home Loan Banks, commercial and consumer credit banks, etc., and in these various capacities, they are quite literally agents of U.S. Government. They thereby "hypothecate" loans where the "credit" they extend is credit of the United States -- the authorization to "defer payment of debt or incur debt and defer payment" is predicated on a grant of authority via the financial institution operating as "fiscal agent of United States Government". They are no longer operating in a private capacity.
A national banking association, etc., may be chartered anywhere, but operation as a Federal Home Loan Bank, etc., is territorial -- these Federally chartered entities may extend credit only in the geographical United States subject to Congress' plenary or municipal authority in territory of the United States. They don't even have regulatory authority to file liens in the several States, as is the case for the Internal Revenue Service.
Regulations for the Paperwork reduction Act (5 CFR Part 1320) help to demonstrate that few if any of the documents filed in county courthouses are legitimate.
The definitions of "credit" in Regulation Z and the State version of the Consumer Credit Code demonstrate the Cooperative Federalism "crossover" on the State side.
The wayto attack, in my opinion, is on the State side. The financial institution, IRS or whatever is governed by several legitimizing compliance laws, including the Truth in Lending Act, the Paperwork reduction Act, the Privacy Act, the Federal Register Act, etc., so if they aren't in compliance with these mandates, the State cannot afford them legitimacy merely because the UCC & Consumer Credit Code are on the books. When acting as "agency of the United States", these entities must comply with Federal mandate; only Congress may legislative, and must legislate for any operation of Federal Government, per Article I, Sec. 8, clause 18 of the Constitution. When it exceeds or fails to comply with Federal legislation, the agency takes on "color of authority", so when it executes documents which have the appearance of legitimate Federal claims but don't have, they are counterfeiting securities of the United States. Each of the several States has laws against counterfeiting.
Here is where the well-pleaded case comes in: Proceed under governing State law against the counterfeiting effected in a private capacity. Demonstrate that they are not carrying out legitimate functions of an "agency of the United States". Thereby, State law governs prosecution.
I don't take absolute responsibility for this strategy. Maxine Dawn of Iowa called recently, and subsequent to our visit, sent pleadings from a 1993 case in the United States District Court in the Western District of New York. It was a case where a USDC judge issued an order for the defendant to turn over books & records IRS wanted. As part of the counter-attack, the defendant filed a complaint with the Attorney General against the revenue agent, the judge, and others for counterfeiting securities of the United States. The U.S. Attorney, and the judge, found it convenient to dismiss the case in pretty short order. You don't find many of those "opinions" published, but I suspect there are more than anyone realizes.
Wonder why the judge found it convenient to dismiss? At Article I, Sec. 8, clause 6, the Constitution provides that, "[The Congress shall have Power] To provide for the Punishment of counterfeiting the Securities and current Coin of the United States."
Obviously, there's a choice of "venue" as anyone who proceeds "under color of Federal authority" to file counterfeit (not authentic) securities of the United States in one of the several States party to the Constitution has transgressed State and Federal law. Prosecution can be in either jurisdiction. Since nobody is home in Article III district courts of the United States, it might be prudent to file affidavits of criminal complaint with State magistrates.
We're still working on this somewhat interesting subject, so will have more on it later. Dan Meador.
World Bank's former Chief Economist William Stiglitz who resigned his post in dissent of the bank's policies which cause economic devastation around the world. (Big Brother10-15-01) At the end of his interview journalist Greg Palast concluded "the solution to world poverty and crisis is simple: remove the bloodsuckers."
Henry Ford, Sr., staunch member of the United States' business community, once said "If the people of the nation understood our banking and monetary system, I believe there would be a revolution before tomorrow morning."
How did such a system get started? How do they keep it going? In 1935 during the Great Depression, the Senate Committee on Banking and Currency questioned the role of money as a basic cause of nationwide bank failures. To explain the workings of our monetary system they called Robert Hemphill, a former credit manager of the Federal Reserve Bank of Atlanta, Georgia. Hemphill told the august committee a fable - 'The Temple of the Thirteen Suns'.
The essence of this fable is that a rich man going on a journey wanted a way to pay expenses without having to haul his unwieldy supply of gold. The goldsmith agreed to store the gold at 10% interest and gave the traveler a receipt - an I.O.U. or letter of credit. After the traveler left, the goldsmith offered to lend this gold to any local merchant who would pledge all his possessions to him as security. In each case, the new borrower asked the goldsmith to keep the gold and give him a paper receipt. Thus the goldsmith still had all the gold - not to mention mortgages on the possessions of everyone who had borrowed from him! With each loan and payment of interest the goldsmith's fortune grew until he became the wealthier than everyone in town. Reflecting upon this state of affairs he said, "What a lead-pipe cinch! I can collect just as much usury on this phony money as on the real gold."
So began the banking business. Money is based on credit. To be used equitably, money must be issued and its value controlled by governments for the general welfare of the nation and its people.
There is no need for money to be created as interest-bearing notes. However, it's still being issued this way worldwide by private banks against the security of people's own personal wealth or the wealth of other nations. The 'money' you borrow from them is created 'out of thin air.' It's a piece of paper that indicates you have pledged your possessions in exchange for your promise to repay the lenders of this money - with interest!
The crucial point to understand is that the way money is created and issued determines the workings of the marketplace. Money issued at interest by private banks, such as the United States Federal Reserve Bank, brings with it an overwhelming debt which has devastating effects on its own people and around the world. In contrast, money issued by a government without interest would benefit everyone. Instead of creating artificial shortages and causing horrendous suffering, interest-free money would simply be a medium of exchange and could release the abundance of human production.
Many government and other leaders in the U.S. have understood the power that money issuance gives to those who control it.
* In 1787 John Adams wrote to Thomas Jefferson "All the perplexities, confusion and distress in America arise not from defects in the Constitution, not from want of honor or virtue, so much as down-right ignorance of the nature of coin, credit and circulation."
* President Abraham Lincoln: "By Government creation of money, the taxpayers will be saved immense sums of interest." Lincoln tried to change the system by having the Treasury Department issue "Greenbacks" which were non-interest bearing notes. He was assassinated in 1865.
* President James A. Garfield: "Whoever controls the volume of money in any country is absolute master of all industry and commerce."
Article 1, Section 8 of the U.S. Constitution states "The Congress shall have power to borrow money on the credit of the United States...and to coin money, regulate the value thereof, and of foreign coin." But since the beginning of our country, bankers have been exercising de facto power in issuing the nation's money. In 1913, Congress passed the Federal Reserve Act which consolidated the power to issue and regulate the nation's money and handed it over to the Federal Reserve Corporation, a consortium of private bankers. Understand that the Federal Reserve Bank is "federal" in name only.
* Congressman Charles A. Lindberg, Sr.: "This Act establishes the most gigantic trust on earth. When the President [Wilson] signs this bill the invisible government of the Monetary Power will be legalized. The worst legislative crime of the ages is perpetrated by this banking and currency bill."
* Senator Louis T. McFadden (for 22 years Chairman of the U.S. Banking Currency Commission): "The Federal Reserve (privately owned banks) are one of the most corrupt institutions the world has ever seen."
Others who championed the return of money issuance to the government included Congressmen Jerry Voorhis of California and Wright Patman of Ohio. These men understood what Mayer Anselm Rothschild, patriarch of the banking House of Rothschild, stated so clearly: "Permit me to issue and control the money of a nation, and I care not who makes its laws"
Human corruption has devastated the Earth to the point where many experts fear it's impossible to restore a healthy environment. A change in consciousness is absolutely necessary. We need to stop exploiting each other. We need to act in a kindly and beneficial way toward the Earth and each other. Returning the power of issuing each nation's money to its own government is one step that will ease financial burdens and stop massive genocide against our fellow beings.
(1) Tomorrow's Money by Felix J. Fraser and Elsa Peters Morse, New Age Publishing Co., 1948. (2) (3) (4) (5) Ibid.
Sources re U.S. History: Financial History of the United States by Davis Rich Dewey; The Financier and the Finances of the Revolution. Vol. I Wm. Graham Summer; A World In Debt by Freeman Tilden; History of Great American Fortunes by Gustavus Myers; Journal of Wm Maclay; Constitutional Money by Etta M. Russell; works by Charles Beard; The Formation of the Constitution by G. Bancroft; The Story of Our Money, Olive Cushing Dwinell.
NOTICE: Edwin Vieira, Jr., Richard L. Solyom, [the] Sound Dollar Committee, and others presented are not affiliated with Freedom School.

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