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Originally posted by Common Good
Congradulations on your 100th flag.
Your welcome btw.
On Topic-
FROM MY UNDERSTANDING, the Federal Reserve does in fact PRINT the money, but its the BORROWERS that actually CREATE IT by asking for the loan.
So in a sense, YES they (FED)does "print it", but the people/govt are the ones who CREATE it.
So yes, they are a private entity because their sole responsibility is the MANUFACTURING of money.
They are in the manufacturing/distribution buisness of money (so to speak).
Someone has to get paid by taking the time and having the resources to print those bills.
If Im wrong, I would really like a correction.
The Promissory Note To Pay Our Debts
HJR-192 of June 5, 1933 is the promissory note (the promise of Abraham) the
government issued to balance the exchange to credit the people. The Promissory note is on
the debit side of the United States Governments ledger, which was a debited from their
credit, created by the Executive Order of April 5, 1933 when they took the gold out of
circulation. Public Policy is rooted in HJR-192 and is Grace that creates our exemption.
This is your temporal saving grace. Under grace, the law falls away to create a more perfect
contract. Public Policy removed the people's liability to make all payments by making a
contract null if it required the payment to be in substance, because the people didn't have
any money to pay with. All that must be done now is to discharge the liability. Pay and
discharge are similar words but the principles are as different as Old and New Testaments.
The word "pay" is equated with gold and silver, or something of substance like a first-born
lamb, which requires tangible work to be invested in it to remove the liability because an
execution must occur. The word "Discharge" is equated with paper, or even more basic,
simple credits and debits, that exist on paper only, like the slate held by the agents/angels
of heaven that get swiped clean. You cannot pay a bill with a bill and you cannot pay a debt
with a debt. What HJR-192 did was, remove the liability of an obligor (someone obligated to
pay a debt) by making it against Public Policy to pay debts. All that needs to be done now is
discharge the debit with an appropriate credit "dollar for dollar." Debt must be discharged
dollar for dollar in the same sense, as sin was discharged on the Cross. The moment a debt
exists, it must be written off. The catch is, we can't write off the debt because we are not in
possession of the account in deficit; our fiduciary agent is in possession of the account so
we must provide him with the tax return (by the return of the original offer) so the fiduciary
can discharge the liability through their internal revenue service (the bookkeeper). Most feel
that when the money was taken out of society, the people became the slaves, this is not
true, the people were freed from every obligation that society could create thus freeing the
people from any obligation which they may incur simply because we cannot pay a debt. Ask
yourself the question, What are you charging me with? And how do you expect Me to pay?
Simply said, there is no money, plain and simple for me to make the payment with and on
top of that, if I were to pay, who is paying Me to pay that guy and who's paying that guy and
so on... Public Policy is the supercedious bond because it limits our liability to pay. It is the
more perfect contract because it operates on grace to pay our debts after we have done all
that we can. We go as far as we can to fulfill the obligation (acceptance and tax return) and
after we have done all we can, mercy and grace kick in being our exemption to make the
payment. Grace creates our exemption in the industrial society so long as we accept the
charge.
Originally posted by SavedOne
Originally posted by fltcui
I love Ron Paul but.... the Federal Reserve is a private bank. It's not owned by the US. So why would a private bank tear up those bonds and lose the interest on them?
Correct me please if i'm incorrect.
Correct, the assumption seems to be that the Fed is part of the government, but it is not. The below really doesn't make any sense considering this fact:
In fact, there is no direct loss of income to anyone associated with the Fed’s destruction of its bonds. This means that if Congress told the Fed to burn the bonds, it would in effect just be destroying a liability that the government had to itself
My limited understanding is that the Fed as a private bank buys up government bonds and then sells them off later to recoup its investment. So in essence they would be telling a bank to burn all the investment bonds that it had purchased from the government while offering them nothing in return for doing so. That would be great if the they would be willing to do it, but it wouldn't exactly make good business sense to the Fed now, would it? LOL!
Originally posted by BiGGz
Wow Ron Paul never seizes to amaze me.
For some reason, it's starting to feel to good to be true.
Or maybe, this may be our first real candidate for the presidency of the United States of America.
Originally posted by McGinty
If the government were to tear up it's debts to the FED it would ruin any reputation as a responsible debtor, thus who in the world would lend to the U.S after that?
Originally posted by hab22
"...All the Fed has managed to accomplish is to privatize profit while distributing losses to the population from whom all wealth is derived...
Originally posted by expat2368
Originally posted by McGinty
If the government were to tear up it's debts to the FED it would ruin any reputation as a responsible debtor, thus who in the world would lend to the U.S after that?
So the Fed is owned essentially by the government, it is a quasi-independent agency of the government and someone is going to be upset if the government decides not to pay itself what it "owes" ....to itself?
That's like saying my credit rating is going to get screwed if I don't repay what I borrowed from my own private "stash"
All your predictions and problems would be put to rest by:
1. Tying the value of the dollar to a basket of commodities such as precious metals and currency.
2. Abolishing speculation on those currencies altogether.
The last time the US govt issued notes was under President John Kennedy. Furthermore the notes were backed by silver and redeemable for silver. As soon as he was murdered, the process was stopped and the Fed has been issuing all of the money ever since.