Wanta Debt-Free America & $300,000,000 Congressional Greenbacks

in america •  3 years ago 

"32.8 trillion dollars. He promised under an oath to President Reagan that after he pays his repatriation taxes on this money he earned as director general in his Austrian based company, Lee has pledged to eliminate overnight our national debt (approximately 18 trillion)"
https://eagleonetowanta.com/

"29,801,317,600,448"
https://www.pgpf.org/national-debt-clock

"§5115. United States currency notes

(a) The Secretary of the Treasury may issue United States currency notes. The notes-

(1) are payable to bearer; and

(2) shall be in a form and in denominations of at least one dollar that the Secretary prescribes.

(b) The amount of United States currency notes outstanding and in circulation-

(1) may not be more than $300,000,000; and

(2) may not be held or used for a reserve.

( Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 983 .)"
https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5115&num=0&edition=prelim

"A reserve currency is a currency held in large quantities by governments and institutions. These currencies are used as a means of international payment and to support the value of national currencies."
https://www.thebalance.com/what-is-a-reserve-currency-1978926

"The monetary system that prevailed throughout most of the eighteenth and nineteenth centuries up until the Civil War comprised a hodgepodge of different types of money. Circulating money consisted of specie; coins minted by the government; privately minted coins; certain foreign coins; and paper banknotes issued by state-chartered private banks and backed by those institutions. Congress regulated the weight of gold and silver required to be contained in coins, but these ratios were often manipulated for political purposes"
https://www.heritage.org/constitution/#!/articles/1/essays/42/coinage-clause

"Greenbacks—named for their distinctive color—were the first national currency of the United States. The notes, though not redeemable for gold or silver, were lawful money backed by the credit of the federal government"
https://www.visitthecapitol.gov/exhibitions/artifact/greenbacks-united-states-notes-issued-march-10-1862

"The phrase 'lawful money' had appeared repeatedly in the money and banking laws of the U.S. in the first half of this century, but had never been explicitly defined. It first appeared on February 25, 1862 when Congress authorized the issue of greenbacks and declared them to be "lawful money and a legal tender" for all debts, public and private."

"After the Civil War, on July 12, 1870, Congress placed the U.S. back on the gold standard and specified what types of money national banks could count to meet their legal reserve requirements. "The terms 'lawful money' and 'lawful money of the United States," the Act read, "when applied to these banks shall be held and construed to mean gold or silver coin of the United States." 1 So, by 1870 greenbacks, Treasury notes, clearinghouse certificates, and gold and silver coin were all 'lawful money.' The annoying part, though, is that Congress never stated exactly what lawful money was supposed to be. The only concrete conclusion that can be reached is that lawful money and legal tender were two separate things"
https://famguardian.org/Subjects/MoneyBanking/FederalReserve/FRconspire/lawful.htm

"Section 8 permits Congress to coin money and to regulate its value. Section 10 denies states the right to coin or to print their own money. The framers clearly intended a national monetary system based on coin and for the power to regulate that system to rest only with the federal government."
https://www.sidmartinbio.org/does-congress-have-the-power-to-print-and-coin-money/

"It would be very easy to end the Federal Reserve System. Congress would write the following bill. The president would sign it."
https://mises.org/library/how-end-fed-and-how-not

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!