"Federal Reserve Notes Are Not Dollars."
by:
Russell Munk
Assistant General Counsel, Dept. of the Treasury
Date:
1977
Source:
in a 1977 letter
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Reader comments about this quote:
A title (such as dollar) can be given to anything for deceptive purposes. The underlying message here is that a debt note that is forced on the people through governmental threat and duress does not equate to money of intrinsic value.
 -- Mike, Norwalk     
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    I know, debt and note are redundant, so is the tyranny that has infested this land. History is repeating itself.
     -- Mike, Norwalk     
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    Ask someone, anyone, to tell you what a dollar is.It can't be done unless you go to the Constitution. I guess, as Slick Willie once said, it depends on what is means.
     -- jim k, austin     
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    The USD was defined the coinage act of 1792 to be 371-416 grains of silver. Since 1977 to the present the US "Silver" Dollar consists of 88.5% Copper, 6% Zinc, 3.5% Manganese, 2% Nickel. So it is fair to say that the "silver" dollar is not a dollar either. I have not found where the definition has legally been changed. The term dollar was used before 1792 for various coins. The US Dollar be it "sliver" or four quarters or a piece of paper is the official currency of six countries mostly in Latin American and the Carribbean, it is the de facto or preferred currency in five other nations. I hope this helps. If any ya'all want to get rid of any I can tell you a place you can send them.
     -- Waffler, Smith     
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    PS: I have a five candle candelabra that is silver. It is a filthy metal that tarnishes easily. I know because I just polished it yesterday. I think I paid $30 dollars for it 20 years ago. Silver ain't worth all that much anymore.
     -- Waffler, Smith     
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    Mr Munk is spot-on and his wisdom should be given wider circulation
     -- Johnny, Chevy Chase     
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    Waffler, if that filthy metal is pure silver and "ain't worth all that much anymore", how about I send you 15 federal reserve notes and, you send me the candelabra? I'll pay the postage.
     -- Mike, Norwalk     
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    I don't know about its' purity but it tarnishes. Our silver dollars have no silver at all, at least they do not tarnish.
     -- Waffler, Smith     
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    You are slick Mike. I just said that I paid $30 federal reserve notes for it 20 or so years ago. I make you a deal due to inflation send me $300 "silver dollars" and you pay the postage and you get my candelabra. If Federal Reserve Notes are so worthless why are you so stingy parting with them.
     -- Waffler, Smith     
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    A 'dollar' is a unit of weight. In the Coinage Act of 1792, the weight of a silver dollar was standardized at 371 4/16 grain (24.1 g) pure or 416 grain (27.0 g) standard silver. The Act defined the proportional value of gold and silver as 15 units of pure silver to 1 unit of pure gold. Standard gold was defined as 11 parts pure gold to one part alloy composed of silver and copper. Standard silver was defined as 1485 parts pure silver to 179 parts copper alloy. But 27 grams, one ounce, of standard silver was declared to be a 'dollar.' The punishment for debasing the coin of the United States was death -- and as far as I can tell, it is still the case. The fact is that the US is operating under receivership to the Federal Reserve as a bankrupt entity, with the Federal Reserve Note as the 'bailout' money with inflation and income taxes as the condition for using it in lieu of real money. We do not actually buy anything -- we rent everything and pay tribute/protection money to be allowed to play in the game of Monopoly the bankers have set up for us. FDR sold us out when he required all Americans to turn in their gold coins and certificates (i.e. real money) in exchange for interest-bearing promissory notes (Federal Reserve Notes). As a result of using this commercial paper and never actually paying any debts, the Common Law jurisdiction was all but destroyed and the Commercial Law took its place. We are thus all commercial entities operating under color of law using commercial paper issued with strings attached for its use. In other words, folks, we have become enslaved by this phony money system that operates covertly, debasing not only the currency, but the language and the Constitution itself. Federal Reserve Notes are not dollars, and are no more 'federal' than is Federal Express.
     -- E Archer, NYC     
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