> Every check I receive for compensation as an
> independent contractor is endorsed:
> "Exchanged for nonredeemable federal reserve notes.
> Without prejudice."
> No signature.
Interesting. If I were doing it, and I'd never, it would say, "Federal
Reserve Notes", because there are at least three things that fit that
one homonym, like there are different things that correspond to the
homonym, "United States". When one speaks, one may have to specify the
meaning one intends for a homonym people could fit to different
significant meanings. When one writes, one may have to pay strict
attention to capitalization and other hints in context. As a
progressing gambler, I'd be willing to bet that the documents you
referred to do not come in "one dollar" or "five dollar" denominations,
but more likely exist in denominations of 6 or more figures.
> Taxes can only be assessed on income. The IRS
> cannot tax debt, as debt is not income.
But debt satisfied is considered income. At least, that's what I hear.
Not being a corporado, I really wouldn't know. I know what I eat is not
income even though it comes in. And just because something comes out
does not mean I'm operating a production facility.
> Most everyone who cashes a check and gets worthless
> FRNs in return is tacitly admitting receipt of
> dollars, which are taxable.
> I do not otherwise deal in checks, or else I would
> repeat the same procedure.
I used to do as you do. Then I decided any participation in the scheme
was to my own detriment. If anyone wants me or my labor or my
productive capacity, they can take the time to get acquainted with a
local coin dealer. Or they could order bags of nickel tokens (tokens
currently minted representing 5 cents, yet not BEING 5 cents in
themselves, and yet the mint claims it costs 10 real cents to produce
each one!!) and then I could really clean up as soon as nickels are
> One time last spring, I wanted to cash two checks
> for $5,000 each at a bank. The teller required
> identification and a fingerprint on the check.
> I said, "Absolutely not! My fingerprints are my
> property, and that is backed up by the supreme
> Court in Davis v Mississippi. You cannot require
> them from me. Get your legal counsel on the phone."
If it ever came to it, I'd use the Davis case to keep the cops from
getting my fingerprints. They are property, and mine come with a high
price, not set by the market, but by my own sense of values. If
someone steals them from me, it would be unearned income to them,
wouldn't it? Should I file a 1099 on them for the value? I don't know.
> While nervous phone calls were being made by two
> managers, I called the maker of the checks to
> come over and get them cashed on his say so. He did.
I once had a similar scene at a Bank of America many years ago before I
quit the central banking system. I was loud and let people know that
their instructions over their signature meant nothing to BofA, and I had
them call the check's maker and they dealt with it over the phone with a
few questions from him to which I gave satisfactory answers as my
> The bank complied immediately, not even asking for
Yeah, that's what happened.
> The rest of the tellers were giving me glances
> from the sides of their eyes, watching to see what
> else I might do.
And when they refused to give me all real dollars or even all token
coins, I made them produce a list of all the denominations and serial
numbers of the bills and sign it so later I could not be accused of
having stolen cash or drug money and have it seized. Oh, they hated
that, but they did it, and it took over half an hour.
> I otherwise cash all checks at a currency exchange,
> never letting any bank into my limited financial
> affairs, and there are no questions asked on my
When I was in your state I used a currency exchange and was happy with
the benefits of the slight charges.
> It may cost me $18 to $25 to cash a check, but such
> a small price to pay for privacy and not receiving
Ohhh, that's too much, and not at all worth it! There are better ways
to deal with unavoidable checks, if there is such a thing.
> I also use a currency exchange to remit funds when
> necessary. No banking paper trail there, either.
I have a little network of people I deal with, and some deal in
imaginary credit (rendering them susceptible to government armed forces
in the extreme situation) and some do not. The ones who do, like you,
but less careful than you, are glad to accept and convert a check made
out to them! So if Joe can only come up with a check, and I decide to
work for him anyway, I'll have him make the check out to Mary, who
provides me other services. That way I don't have to sign anything or
have a confrontation or pay an exorbitant fee.