The Federal Reserve Note is not a dollar. It is a Note denominated in dollars.

If the green piece of paper is redeemable in dollars, that raises the question, what is the dollar? A quesition which interestingly enough nobody raises or answers. A conflict of interest?


http://www.ecclesia.org/truth/reserve.html

 

Let me guess - you have gold and silver coins buried in the back yard?

There isn't anything inherently wrong with paper money, except for the major fault that governments are run by people, and people tend to be crooks. Notice no "legal tender" laws were ever required when gold and silver was used as money. Once a government starts cranking up the ole' printing press, then they have to pass laws forcing people to take it.

The problem ultimately lies in the unit of account. Inflation is a hidden tax on all of us. "The yard lost several inches against the meter in heavy measuring yesterday"; or how would you feel if your state redefined an acre of land to half its original size.

 

You know, I have always wondered just how long us ignorant American's were going to ignore this issue !!

I mean after all; Just who's FOOT are we talking about here?!?!?!

Them Asian folks have little bitty tiny feet - most Scandanavian folks have big feet. So . .

before I buy a 4 FOOT by 8 FOOT sheet of plywood I always have to ask "whos' feet measured it?" - quite a hasle of you ask me!

 

A majority of people like the fuzzy haze (no reference to ctfuzzy) projected by governments and revel in their ability to remain pacified. That’s a big crowd to convince.

 

So wqhat are we to do about this?

 

'We', when compared to the public majority who never questions and supports almost any of the actions of our government, are way too small to do much more than discuss it. If Patriot II is ever enacted, we may not even be able to discuss it on a public forum without a filter picking it up and inviting a visit from the Gestapo. ctfuzzy, is there any investment going into private secure transmission capabilities for the average joe? Seems like that could eventually be a huge market.

 

What is paper money? (As used above)

Is there a legal definition of the term?

 

Look in your wallet, if you are lucky, you will have several green pieces of paper with numbers on them with depictions of various dead presidents and important figures in US history.. That's paper money.

 

A legal medium of exchange currently valued against other sovereign (nation) paper money on a second by second demand basis in three primary world money trading centers.

 

Yes there is. Definitely. As more and more folks realize they can follow their job overseas from their office at home, the demand is rising quickly for cost effective *home based* secure network technology.

Understand - it exists - and has for some time now. But you had to be a me (professional geek) to make it work properly, and you have to have a TON of money (I am easy - not cheap!). What has not yet made it into the public domain George, is the point and click stuff.

 

A legal medium of exchange currently valued against other sovereign (nation) paper money on a second by second demand basis in three primary world money trading centers.

I am not asking for a street definition, but something admissible in court - in legal terms. The question remains unanswered. A "legal medium of exchange" describes one characteristic but it is certainly not a definition. Therefore, I don't know what you are talking about.

 

I'm not a lawyer, but for a country's paper money to be traded in world markets (used as a medium of exchange) it must be approved by the International Monetary Fund before other countries will accept it. I'm sure there are several hundred pounds of hardcopy boilerplate legal definitions and compliance issues available, but I'm not aware of a website containing a synopsis.

 

You keep using the term without explaining what exactly it is. You are either unable, or unwilling to do so. And it is not just you, but everyone in our society it seems. That fact is rather disturbing. Neither the business world, not media nor colleges nor churches - everybody who is a product of the system is institutionalized into it.

There are several problems with it. In legal context,which is the focus of this discussion, precise terminology is critical. As it is in other professions. If you are a brain surgeon, you want to be very certain what you communicate to your assistants is exact and precise. If you work with cars, you will not use 9/16 socket when you really need 10mm - etcetera. This is no exception. No meaningful discussion can occur without being on the same page about using words - the right words and in the right context and precisely. But that applies only to those who want to seek the truth of the matter.

If you take out the contents of your wallet at the currency - see where it says "Federal Reserve Note"? Now look up the definition of the Note.

It must fulfill 4 criteria. Financial instruments called Notes are contracts containing four elements: a 1) Maker, who promises to pay a certain 2) Amount of money, to a 3) Payee, on a certain 4) Date. For example, a U.S. five-dollar bill issued prior to 1963 said, "The United States of America will pay to the bearer on demand five dollars."

The term "paper money" is a legal impossibility, designed to confuse the public, which doesn't understand the difference between Note, dollar, currency, and money and thinks they are all equivalent. Maybe in your local supermarket but certainly not in the courtroom or in Congress where these matters are shaped - could it be that the confusion is intentional so that people are not able to communicate their concerns properly?

 

OK, people use slang to descibe their medium of exchange. A lot of slang. Where are the correct legal definitions going to be used outside of a court of law or in congress and for what purpose? Why would the average person ever have any reason to use them? A majority of people have problems balancing their checkbooks or counting paper money and seem to live in a state of confusion. Where are you going with this?

 

http://www.thefreedictionary.com/dollar

http://www.wordreference.com/english....asp?en=dollar

http://www.hyperdictionary.com/dictionary/dollar

\Dol"lar\, n. [D. daalder, LG. dahler, G. thaler, an
abbreviation of Joachimsthaler, i. e., a piece of money first
coined, about the year 1518, in the valley (G. thal) of St.
Joachim, in Bohemia. See {Dale}.]
1.
(a) A silver coin of the United States containing 371.25
grains of silver and 41.25 grains of alloy, that is,
having a total weight of 412.5 grains.
(b) A gold coin of the United States containing 23.22
grains of gold and 2.58 grains of alloy, that is,
having a total weight of 25.8 grains, nine-tenths
fine. It is no longer coined.

Note: Previous to 1837 the silver dollar had a larger amount
of alloy, but only the same amount of silver as now,
the total weight being 416 grains. The gold dollar as a
distinct coin was first made in 1849. The eagles, half
eagles, and quarter eagles coined before 1834 contained
24.75 grains of gold and 2.25 grains of alloy for each
dollar.

2. A coin of the same general weight and value, though
differing slightly in different countries, current in
Mexico, Canada, parts of South America, also in Spain, and
several other European countries.

3. The value of a dollar; the unit commonly employed in the
United States in reckoning money values.

{Chop dollar}. See under 9th {Chop}.

{Dollar fish} (Zo["o]l.), a fish of the United States coast
({Stromateus triacanthus}), having a flat, roundish form
and a bright silvery luster; -- called also {butterfish},
and {Lafayette}. See {Butterfish}.

{Trade dollar}, a silver coin formerly made at the United
States mint, intended for export, and not legal tender at
home. It contained 378 grains of silver and 42 grains of
alloy.


HTH.