You are looking at a Note without collateral
Before it becomes evident why this extravagant claim is true, we must examine two things.
What is money and the recent history of our once mighty currency.
What is Money?
This is the most basic question any 3 year old always asks the parents. But what is not money?
Money is not the stuff you hold in your hand, that is what money is made out off.
Money is not what you buy stuff with, that is what we do with it. So if money is not what it’s made out off. and it’s not what we do with it? Then what is it?
Money is the interchange of energy, the abstract concept in the exchange of energy.
You give me a day of labor/energy and in exchange I’ll give you a trinket that can be exchanged for the labor/energy of others. It takes energy to earn it, energy to spend it and energy save it. In other words Money = Energy.
Let’s look at the dollar a little closer.
On the left side and on top of every paper dollar bill regardless of denomination, you can see the words “FEDERAL RESERVE NOTE” and the words “This note is legal tender for all debts…” 99% of all people in this world don’t have any Idea what the word “NOTE” stands for. The Webster dictionary has 11 definitions of the word NOTE. Definition # 7 says (a) written promise to pay a sum of money or a written acknowledgement of a debt from which a promise of payment can be inferred.
(b) a piece of paper, a Federal Reserve Note.
Definition (a) is quoted because it’s really necessary to understand the concept of “The NOTE”
Any and all Promissory notes are backed by tangible property such as real estate.
Now that you have a better understanding on the concept of “THE NOTE” you’ll see that all notes require collateral as a backup otherwise it can’t be called ‘a note’ but has to be called an unsecured I.O.U.
The big question to you is, the federal ‘reserve note’ is backed up by what? What tangible asset reinforces the Dollar? Gold, Silver? No? Well then, the federal note Dollar is an
un-collateralized promise, an I.O.U that pledges nothing. It is therefore illegal to call it a “NOTE”. It’s a false document because the Fed no longer holds ties the dollar to gold certificates as mandated by article 16 of the federal reserve act. See, Special Drawing rights. Section 16 of the Federal Act clearly states that the currency issued must have a backing collateral.
The final link between the collateral that made the Dollar a note was severed by Nixon. They even have a special name for that event ‘Nixon’s Shock doctrine’
FACT, The dollars says “FEDERAL RESEVE NOTE”
FACT, there is no reserve link to the Dollar
FACT, Notes are backed by Collateral.