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Re: [tips_and_tricks] California Commercial Code 2511 tender of payment

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  • BOB GREGORY
    *I have attached an article about FRN s and Legal Tender.*
    Message 1 of 7 , May 19, 2009
    I have attached an article about FRN's and Legal Tender.

    On Tue, May 19, 2009 at 5:15 PM, Frog Farmer <frogfrmr@...> wrote:


    Al Cintra-Leite:

    > ... thus they are not a "Note" and are "Legal


    > tender" that is , a contract forced on those who don't want to use it
    > , as a debt tendered and refused is a debt paid at law, this is unfair
    > to someone who is owed money and is offered Federal reserve notes
    > instead , as there is no real money...... just some thoughts....

    Maybe they were "just thoughts"... I hope that's all they were, because
    I am convinced that FRNs are NOT "legal tender" at all, except in the
    same sense that ANYTHING is legal to tender (offer).

    .


  • dave
    In a free society anyone is allowed to tender payment to another in any form possible .that is accepted. For example: . I can tender you a pencil and
    Message 2 of 7 , May 19, 2009
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      In a free society anyone is allowed to tender payment to another in any form
      possible .that is accepted.



      For example:



      . I can tender you a pencil and claim it worth a nickel.

      . I can tender you one blue pencil for another red in color.

      . I can tender you a pencil and claim it worth 1000 ounces of gold.

      You see it is the ACCEPTANCE that determines the tendered worth. Now surely
      someone would claim the last example was "crazy"..but in a free society if
      someone VOLUNTARILY accepted the offer, the worth was established. By the
      way, "tender" is used in the verb-sense above.



      Let's go on.



      In a free society:

      . I can promise things to another.

      . I can tender you a NOTE and claim it worth whatever it says on its
      face.

      . I can thus tender PROMISSORY NOTES.

      You tender PROMISSORY NOTES all the time..they are called checks. You
      VOLUNTARILY offer the note as tendered payment and it's up to the recipient to voluntarily accept same.



      Per the Constitution government is granted power to coin money. No coin will
      tell you it's truth on its face for this truth is printed in the
      Constitution. It is implied that it can't print money. To date government
      doesn't claim to print money and its printed currency tells you same: Its
      LEGAL TENDER.not LAWFUL MONEY. It prints same on its face to make clear the
      distinction.



      So what you have in your pocket is a VOLUNTARY method of exchange of notes.
      Their worth is established by what you are willing to exchange them for.



      To give you the ILLUSION that government is allowed to PRINT MONEY, it
      turned the verb "tender" into the noun of same and added the adjective
      "legal" to give it an aroma of legitimacy. Next to fool a Chr-stian
      population into acceptance of this non-golden-based graven-image calf, it
      added the words "In G-d we Trust." [Look how far we've come: At least the
      Children of Israel worshipped gold and not paper.]



      Folks..the deviousness of this new Roman Republic can be traced to the
      person whose portrait is on the NUMBER ONE federal reserve note. Think how
      effectively George and his CONstitutional CONvention CONvinced people that
      they would be better off with an OWNERSHIP POSITION in government then to be
      declared separate from same. A masterful stroke of the pen ushered in the
      words "we the People" as OWNERS of an alleged debt called public and a mere
      POSTION in government called VOTING. In this manner they were able to
      accomplish what no Roman emperor managed to do: Convince people to worship
      paper as money and to insist on G-d's name on same. [Moderator/Bear: Or, what most people consider to be the Creator's Name.]



      Maybe they were "just thoughts"... I hope that's all they were, because
      I am convinced that FRNs are NOT "legal tender" at all, except in the
      same sense that ANYTHING is legal to tender (offer).

      You also said, "Federal reserve notes..." Didn't you mean "Federal
      Reserve Notes" because few people ever get to see any "Federal reserve
      notes"? The two are different things.
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