David Merrill wrote:
Maybe to you; that is all you can understand.This article explained it quite well
The process works like this. Suppose $1000 in Federal Reserve notes are presented for redemption in public money. To raise $1000 in public money the Fed must surrender U.S. Bonds in that amount to the Treasury in exchange for the public money demanded (assuming that the Fed had no public money on hand). In so doing $1000 of the National Debt would be paid off by the Fed and thus canceled.
I don't think that is too complicated. At least a lot of other people get it easily.
So you think, going by your link you provided, because someone "said" bonds Congress creates from thin air that are deposited in a reserve bank somehow is deemed "private" and "credit" of the reserve bank?
Well you can think that assumingly but:
1. The bond is an asset of the depositing government, not the private reserve bank to assume the deposit somehow magically turns into an asset of the bank. The deposits are a liability of the reserve bank, not their credit!
Have you ever sat back and thought about what you are saying?
Have you ever put yourself in the shoes of the people you are telling these story's of yours to see how bizare and backwards they really are?
2. Lets assume your theory is true. You still havent tied this theory to Title 26, particulary the issue regarding "wages".
As far as what you wrote above I think you need to read the link you provided. That link says Congress issues bonds from thin air and deposits that into the rederal reserve.
How are you getting the idea the deposits that are a liability to the bank are somehow surrendered?
1. Why are you injecting this "redemption" thingy in the process of a government depositing bonds to pay its debts to other governments?
Why I dont know or understand except maybe you are trying to keep those willing to beleive you from uncovering the truth.
Like I say, I beleive you couldnt figure out the tax code and came up with conspiracy story to try and explain it.
What do you mean the federal reserve surrenders
Are you suggesting the reserve banks surrenders the deposits belonging to the depositing government back to the depositing governments?
And the reserve bank redeems what?
411 does not
say federal reserve banks redeem as you are now suggesting. (Do you make this up as you go?)
411 says fiat notes can be redeemed by a person walking into a reserve bank for lawful money, assumingly lawful is meant to be treasury notes. And treasury notes are to be backed by silver and gold.
We are no longer on the gold standard since the 1930's and no longer issue silver certificates since 1971.
Also, why do you keep posting pictures of documents that supposedly explains everything?
I'm going to explain something to you Merrill that I explained to your side kick johnn.
Pictures mean absolutely nothing!
For what its worth, and that isnt much, that picture of a supposed NY tax return can be bogus. Any nut case, including yourself, can print that off and fill in the blanks with what ever they want and pass it off as proof.
Those pictures are nothing but hearsay...........they are not proof!
Especially when you refuse to connect the dots between 12usc 411 and the imposing statutes of title 26.
How do you, Merrill, know this person who sent these pictures of a state tax return didnt already have an existing tax credit to off set the next years tax liability and get a full return?
And how do you know the two picture are of the same NY tax document?
They can be from two different tax years and from two different individuals.
To an astute researcher all you are doing is discrediting yourself with these photos absolutely prove nothing.
Seriously Merrill. Do you think I'm that stupid to think for one minute those pictures couldnt be faked? Without positive verification the pictures cant be used as creditable.