NOTES ARE NOT FIAT
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As to the "Fiat" argument -
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From wikipedia,
"The term fiat money has been defined variously as: any money declared by a government to be legal tender. State-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard. Money without intrinsic value."
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From those words, it says MONEY declared to be LEGAL TENDER.
Agreed?
Take out one of those green pieces of paper and read the top of it : "Federal Reserve NOTE".
MONEY - In usual and ordinary acceptation it means coins and paper currency used as a circulating medium of exchange, and does not embrace NOTES, bonds, evidences of debt, or other personal or real estate. Lane v. Railey, 280 Ky. 319, 133 S.W. 2d 74, 79, 81.
- - - Black's Law Dictionary, Sixth Ed. p. 1005
MONEY does not embrace NOTES. A Federal Reserve Note is therefore NOT FIAT.
It IS legal tender on obligated parties to said note (under the "law of notes" - not as money).
Title 12 USC Sec. 411 defines the United States government as an obligated party and it must accept said notes in lieu of lawful money.
Can you GUESS what made "all the rest of America" into obligated parties?
Here's a HINT:
CONTRIBUTION - ... The share of a LOSS payable by an INSURER when contracts with two or more insurers cover the same loss... The sharing of LOSS or payment among SEVERAL...
--- Black's Law Dictionary, Sixth Ed., p. 328
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Enumerated human resources who sign up with the
Federal Insurance CONTRIBUTIONS Act are obligated parties on the debt, since they SHARE the loss, thus making those FRNs into "their" notes... and LEGAL TENDER.
In
Helvering v. Davis and
Flemming v. Nestor, the U.S. Supreme Court ruled that Social Security taxes are
simply taxes and convey no property or contractual rights to Social Security benefits. Congress is under no obligation to pay benefits - they are entirely at the government's discretion. So FICA is not insurance... at least not for the enumerated bankrupted pauperized socialist serfs - and volunteers, no less!
http://www.treasury.gov/resource-center/faqs/Currency/Pages/legal-tender.aspx" Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything. This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy."
[The site coyly avoids mentioning that FICA is the means by which all YOUR goods and labor back their worthless IOUs. Remember, no American government can take PRIVATE PROPERTY for public use without paying just compensation.]
Re-stating the point - an IOU is not fiat. It is a debt; an obligation.
The question is : WHO are obligated parties on said note?
(Only obligated parties are at risk when the CREDITOR forecloses. Public properties held in trust by the government are not attachable by any creditor.)
I hope this illustrates the IMPORTANCE of extricating oneself from socialist insecurity and usury (banking).