ACCOUNTS RECEIVABLE ... ACCOUNTS RECEIVABLE is a legally enforceable claim for payment from a business to its customer/clients for goods supplied and/or services rendered in execution of the customers order. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. NOTE - An instrument containing an express and absolute promise of signer (i.e. maker) to pay to a specified person or order, or bearer, a definite sum of money at a specified time. An instrument that is a promise to pay other than a certificate of deposit. U.C.C. 3-104(2)(d) - - - Blacks Law Dictionary, Sixth Ed. p. 1060 TENDER - An offer of money ... Legal tender is that kind of coin, money, or circulating medium which the law compels a creditor to accept in payment of his debt, when tendered by the debtor in the right amount. - - - Blacks Law Dictionary, Sixth Ed. p. 1467 In some respects, the Federal Reserve NOTE (“dollar bill”) is like accounts receivable. The tally in the accounts receivable column is denominated in money (“dollars”). And it is a claim for money owed by the obligated party (minus value). The note is also denominated in money (“dollars”). It is a sum owed by the obligated party (debt). Since 1933, dollar bills have not been redeemable in lawful money (“dollars”), which makes them worthless IOUs - except that obligated parties on the notes must accept them in lieu of payment for debt. Title 12 USC Sec. 411 lists the United States government as an obligated party. And FICA / Socialist InSecurity imposes the obligation upon voluntary “contributors.” ... CONTRIBUTION - ... The share of a loss payable by an insurer when contracts with two or more insurers cover the same loss... The sharing of loss or payment among several... --- Blacks Law Dictionary, Sixth Ed., p. 328 ... Every enumerated contributor under FICA (Federal Insurance CONTRIBUTIONS Act) is equally liable for the public debt, making dollar bills into legal tender. Hence you cannot object to their tender. And when the government is deemed insolvent, and the creditor forecloses, it cannot take anything held in trust. However, if you’re one of the 315+ million “contributors” underwriting the bankrupted government, you’re [expletive deleted]. If you thought FICA (Federal Insurance CONTRIBUTION Act) was insurance for YOU, you were misled. FICA is nothing but a Tax and Bribe scheme. In Helvering v. Davis and Flemming v. Nestor, the U.S. Supreme Court ruled that Social Security taxes are simply taxes and convey no property or contractual rights to Social Security benefits. Congress is under no obligation to pay benefits - they are entirely at the governments discretion. So FICA is not insurance - for YOU. What does the government admit? treasury.gov/resource-center/faqs/Currency/Pages/legal-tender.aspx 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 have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are backed by all the goods and services in the economy. ... Since 1933, Congress will not redeem their notes with lawful money. They have no par value. Congress worthless IOUs are backed by all YOUR goods and YOUR labor... if you are a contributor under FICA. Your property has been rehypothecated to underwrite their profligate spending. In other words, the “intrinsic value” of a Federal Reserve Note is akin to shares in a bankrupt corporation, owing 17+ trillion dollars, in accounts receivable, that if liquidated, might net 2.8 billion dollars (in stamped gold coin). (That’s 1.6 hundredths of a cent per dollar owed) For each billion dollars owed, $168,361 might be credited... assuming the gold is in Fort Knox depository. Any “faith” in the dollar bill is entirely based upon a misunderstanding of law, gullibility, and ignorance.
Posted on: Sun, 14 Sep 2014 13:18:26 +0000
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