PAYBACK

Even though in the case, Guaranty Trust of New York vs. Henwood; 1977 (makes reference to Title 31 § 5118 ) “...legal tender for the discharge of debt is no longer required”, legal tender are Federal Reserve Notes.

The Federal Reserve Bank of Chicago in its booklet: Modern Money Mechanics (page 2), states; “In the United States neither paper currency [e.g., Federal Reserve Notes] nor deposits have value as commodities. Intrinsically, a dollar bill is just a piece of paper, deposits merely book entries. The acceptance of said “currency” is merely a “confidence” game predicated upon the people’s faith or “confidence” that these currencies/instruments can be exchanged/accepted for goods and services”. Does this go against the LON? Absolutely! It is Treason!

From the document “There is no legal tender”, it concluded with “In section one of HJR-192 there is a single very important sentence, which states: “Any such provision contained in any law authorizing obligations to be issued by or under the authority of the United States, is hereby repealed.

This is hugely important because under § 16 of the Federal Reserve Act (above, at PART ONE) the Federal reserve notes issued under that section were expressly said to be obligations of the United States. Then, in June of 1933 the authority to issue those § 16 Federal reserve notes was repealed! Result? ALL Federal reserve or Reserve notes are without authority of law.”

If there is a method to get the government to settle the claims of the public debt, what is it? After all, this is the only way we can actually claim our property, toys, our lives and get rid of the national debt. The United States Supreme Court said, in United States v. Russell [13 Wall, 623, 627] “Private property, the Constitution provides, shall not be taken for public use without just compensation.”

The National Debt is defined as “mortgages on the wealth and income of the people of a country.” (Encyclopedia Britannica, 1959.)

The United States cannot pledge or risk the property and wealth of its private citizens, for any government purpose without legally providing them remedy to recover what is due them on their risk.

Black’s Law Dictionary, 5th edition, defines “surety”: “One who undertakes to pay or to do any other act in event that his principal fails therein. Everyone who incurs a liability in person or estate for the benefit of another, without sharing in the consideration, stands in the position of a “surety.”

The rights of a surety to recovery on his risk or loss when standing for the debts of another was reaffirmed again as late as 1962 in Pearlman v. Reliance Ins. Co., 371 U.S. 132 when the Court said: “sureties compelled to pay debts for their principal have been deemed entitled to reimbursement, even without a contractual promise”