Federal Reserve Note is legally not a dollar!
Dec 10, 2007
GOOD ARTICLE:

SILVER BUGS EXCITING BREAKING NEWS:

Exclusive to the Independent American Press

A government witness in a Federal Tax Evasion Case in Las Vegas , Nevada, testified on Friday that a Federal Reserve Note is not a dollar but a silver dollar minted since 1986 AD is a real dollar. When one of the defense Attorneys held up a Federal Reserve Note and a silver dollar minted since 1896 AD and asked, "Now these are both dollars, correct?" the government witness testified that that was not correct and the that Federal Reserve Note was not a dollar. He also stated that a Federal Reserve Note is not real money but the Silver dollar is. He testified that a Federal Reserve Note is just a debt note and not a dollar and has not been a dollar since the United States would no longer redeem them in gold and silver coins with the same face value.

This licensed coin dealer called upon by the government to testify in an effort to convict a man accused of believing that "legal tender" coins minted by the United States with dollar values minted on their reverse sides just as the law requires were actually dollars just like this government witness said they were, also testified that when he receives gold dollars that could be traded in excess of 10,000 FRNs that he does not report the transaction as being in excess of the cash reporting requirements as he uses the gold coins "face value" to judge their value. Remember, this is the government witness. He is not on trial.

The government prosecuting attorney did not try to challenge this testimony or even re-question the witness in an attempt to get a definition of "dollar" that, at least, included a Federal Reserve Note. He just let it stand unchallenged.

In this same case two government witnesses testified that the IRS makes mistakes. (I know this will come as no surprise to any of my readers.)

So now the question must be asked: What is a dollar? It should, after all, be something Americans should be able to look up in the law and find out what it means. After all only congress can regulate the value of money and we know they have done so in the past. And it must be important for most Americans to know what a dollar is since " Federal income tax is imposed in terms of dollars." 26 U.S.C. ? 1." U.S. v. Rickman 638 F.2d 182, p.184 (1980)

It is, after all, impossible to know how to figure out how much income you had or how much you owed for ANY tax if you did not know what the value of a dollars was. Just like if you did not know how long a foot was you could not calculate how many gallons of paint to buy to paint your house. And what if a gallon had no set meaning or several meanings like a dollar may have? Of course the dollar is the monetary measurement unit of the United States of America so it must have a set value or we cannot calculate any financial transactions in dollars.

But the truth is there is no legal definition of a dollar that can be easily accessed by Americans. In fact in a letter received this month, sent by the Honorable Dean Heller to one of his constituents, he tried to answer what law defines a dollar to be and wrote that: "The closest current definition for a dollar comes from the U.S. Code title 31, Section 5116, paragraph b, subsection 2, 'The Secretary shall sell silver under conditions the Secretary considers appropriate for at least $1.292929292 a fine troy ounce.'"

Section 5116 (b)(2) of the code refers to 31 U.S.C. ? 5112(e) several times. This is the section where Congress authorizes the minting of silver dollars with a "value" (sec subsection (d)) of "ONE DOLLAR."

But remember, it was not THE definition of a dollar. It was just "The closest current definition for a dollar?"

Why couldn't we get a REAL definition to a dollar TODAY just like the Honorable Dean Heller said we once had, when he wrote : "In the early days of the United States , the dollar was a defined unit of trade equal to 412.5 grains of 90 percent silver?"

What is a dollar today if it is not a "defined unit of trade"? How can it define your income or tax due if it is not a "defined unit of trade"?

Mr. Ogilvie, the recipient of the letter from Congressman Heller, also received a letter from the Board of Governors of the Federal Reserve System. The Board of Governors also mentions 31 U.S.C. ? 5112 when trying to define what a dollar is today. But they ALSO could not just point to a single statute that says "A dollar is a defined unit of trade equal to WHATEVER weight or whatever (grain, silver, gold, diamonds, paper, lead) Congress determines is the 'value' of this monetary measurement 'unit.'" And remember that the Federal Reserve did not point to a statute that defines a Federal Reserve Note as a dollar like they could for gold and silver dollars.

Instead the Board of Governors gives the following convoluted non-definition as to what a dollar is. If you can tell what a dollar is from this definition then please write to this reporter and explain what the "value of a dollar" is so I can inform our readers.