Tuesday, November 21, 2017

I have been hearing talk of a new gold backed Treasury note being released to the public shortly

A note is a note is a note.

Anything outside of gold or silver is prohibited for money. A warehouse receipt for deposit of gold or silver is valid for face value just like the old silver certificates. A note is a debt. So the new treasury notes coming out are no better than the unlawful Federal Reserve Note.

Ponder that for a while.


Ps. Reference National Constitution Article 1 Section 10.


Anonymous said...

The problem is not the note itself but the "promise" of exchange. The TRN is "better" if it is worth its exchange in gold or silver.

Anonymous said...

Agreed. The FRN is a debt note based on the full faith and credit of the United States. See 12 USC 411-412. IF the TRN is backed by silver or gold, and I can walk into a bank and exchange my $1 TRN for a silver dollar, that works for me.

Anonymous said...

Article 1 - The Legislative Branch
Section 10 - Powers Prohibited of States

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.