Federal Reserve notes are legal tender currency promissory note debt instruments or promissory note Government Military Script Dollars.
The twelve Federal Reserve Banks issue them into circulation out of thin air, monetized by your signature and then securitized by the bank or Treasury pursuant to the Federal Reserve Act of 1913. A commercial bank belonging to the Federal Reserve System can obtain Federal Reserve Notes from the Federal Reserve Bank in its district whenever it wishes. It must pay for them in full, dollar for dollar, by drawing down its account with its district Federal Reserve Bank.
Federal Reserve Banks obtain these promissory Note Dollars from their Bureau of Engraving and Printing (BEP) department. These banks pay the BEP for the cost of producing the notes that is a penny or two, which then become liabilities of the Federal Reserve Banks, and obligations of the United States Government to pay all your debts. In return, the government is obligated to pay all your debts due to the confiscation of all the Gold in America in 1933 and the U.S. Government Bankruptcy thru Public Law 73-10, Chapter 48 Stat §112 and by the CAP Security Instrument at Cancel1Mortgage.info.
This is why the Federal Reserve Private Central Bank prints all the Military Script fiat money Dollars and forces the U.S. and you, the Borrower/ DEBTOR to pay them back with interest. The interest charged you is what makes the banks money since the Banks are just a middleman or wholesale money laundering warehouse.
Congress has specified that a Federal Reserve Bank must hold collateral equal in value to the Federal Reserve Promissory Notes that the Bank negotiates for and receives under Title 12 USC 24, Seventh or Title 62 Congressional Legislative Positive Law. This collateral is chiefly gold certificates and the United States securities. This provides backing for the bank promissory note issue. The idea was that if the Congress dissolved the Federal Reserve System, the United States would take over the notes (liabilities).
Since the UNITED STATES is Bankrupt since 1933, this is impossible. This would meet the requirements of Section 12 U.S.C. §411, but the government would also take over the assets, which would be of equal value. Federal Reserve promissory notes represent a first lien on all the assets of the Federal Reserve Banks, your wealth and property, and on the collateral specifically held against them and you, the Borrower/DEBTOR.
Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything. This has been the case since 1933. The notes are perpetual debt and have no value for themselves, but for what they will buy and your perception and belief of these Promissory Notes being money. In another sense, because they are legal tender, Federal Reserve notes are “backed” by all the goods and services in the economy and your personal good faith and CREDIT and so are the CAP Security Instruments. Think about it..
Each Processed Credit Agreement Debt Payoff, Security at Cancel1Mortgage.info are Registered State Licensed Processed Credit Agreement Payoff Negotiable Security Instruments, similar to FRN Dollars; Mortgage Promissory NOTES; Mortgage Debt Lien Securities; and Auto Financing Credit Applications, etc. .. CAP Security Instruments are also used as money but for debt payoff similar to bank created money, debt, and loans that create debts.. Banks actually verify and accept the CAP Security to pay off mortgages and other bank or finance debts; the maturity date is over 9 months which qualifies the CAP Security as Bank Verified money and legal tender with no interest payments; NOT Capital Gains Taxable; are notarized; are registered securities pursuant to SEC Law; pays bank claimed debt, and meets all Negotiable Instrument laws.
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