Black People : The Difference Between Federal Reserve Notes and Real Money

Discussion in 'Black People Open Forum' started by Ankhur, Oct 31, 2009.

  1. Ankhur

    Ankhur Well-Known Member MEMBER

    Oct 4, 2009
    Likes Received:
    owner of various real estate concerns
    The Federal Reserve lies about United States Notes
    Text size
    Exposing Faux Capitalism
    October 30, 2009

    The Federal Reserve first starts off by telling the truth about United States Notes:

    “U.S. notes, the first national currency, began circulating during the civil war; they were authorized by the Legal Tender Act of 1862. The Department of the Treasury issued these notes directly. Issuance was subject to limitations; the Congress established a statutory limitation of $300 million on the amount of U.S. notes outstanding and in circulation. Although this amount was significant in Civil War days, it is a very small fraction of the total currency now in circulation in the United States.“

    Then, they tell a big lie:

    “U.S. notes serve no function that is not already served by Federal Reserve notes.”

    A d v e r t i s e m e n t

    Completely false! U.S. Notes were issued interest-free by the government. The purpose they served was to not bankrupt the American people in funding the Civil War, by not subjecting them to an unpayable, interest-accruing debt, from the moment of creation, as Federal Reserve notes do.

    They lie, not only mislead, since they give so many accurate details, only to lie about the most important distinguishing function of U.S. Notes from Federal Reserve notes — their interest-free issuance. Sarah Emery, in her 1887 work, Seven Financial Conspiracies Which Have Enslaved the American People, states: “the enactments of July 17, 1861, and February 12, 1862, authorizing the issue of $60,000,000 treasury notes, not bearing interest and payable for all debts, public and private.“

    The function they serve that isn’t already served by Federal Reserve notes is that not a single penny of interest was ever due on them, nor will ever be due, by the American people to the bankers or the government.

    Furthermore, Federal Reserve member banks are unable to draw United States Notes whenever they please, unlike Federal Reserve notes. As the U.S. Treasury states,

    full article;