Re: FBI Raids Liberty Dollar - Confiscates All Ron Paul Dollar


"Deadrat" <a@xxxxx> wrote in message
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"Robert Miller" <xyzstargazzr@xxxxxxxxxxxxxx> wrote in
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"Deadrat" <a@xxxxx> wrote in message
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"Robert Miller" <xyzstargazzr@xxxxxxxxxxxxxx> wrote in
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<snip>

ange with which to discharge that debt. Am I missing
something?

A Federal Reserve Note is a promissory note.

A FRN is not a promissory note, since it doesn't say that you can redeem
it for anything. A FRN is legal tender, which means that creditors must
accept it when their debtors discharge their debts.

So what happened the day the Federal Reserve stopped backing their
Promissory Bank Notes with gold. Did they do as many banks before them
and printed more Notes than they had gold to back them? Then did it again
when there was not enough silver in the bank vaults to cover them again?

A dollar is still defined as:
DOLLAR, money. A silver coin of the United States of the value of one
hundred cents, or tenth part of an eagle.
2. It weighs four hundred and twelve and a half grains. Of one thousand
parts, nine hundred are of pure silver and one hundred of alloy. Act of
January 18, 1837, ss. 8 & 9, 4 Sharsw. Cont. of Story's L. U. S. 2523, 4;
Wright, R. 162.


372.25 grains of pure silver

480 grains = 1 troy oz.

480 / 372.25 = .7755

1 Silver $ .7755 oz pure silver

Sept 20 Monex.com Silver @ $13.36 per ounce Spot.
Dec. 19 Monex.com Silver @ $14.12 per ounce Spot.

..7755 oz. = $10.36 in a real silver dollar Sept. 20 2007
..7755 oz = $10.95 in a real silver dollar. Dec. 19, 2007

Notice a trend?




You say below that merchants must accept FRNs in exchange for their
goods. They don't. They're free to set whatever terms they want. If
your corner gas station advertises that they want 10 pounds of potatoes
for a gallon of gasoline, then you'd better have spuds in the trunk when
you fill up.

What if they want NORFED's Silver Libertys.


NOTE OF HAND, contracts. Another name, less technical, for a
promissory note. (q.v.) 2 Bl. Com. 467. Vide Bank note; Promissory
note, Reissuable note.

NORFED's Silver Libertys are money because
they have value even if NORFED is permanately shut down.

United States Federal Reserve Notes will be worthless the same day
the United States is shut down.


Robert


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