Axenolith wrote:
“...I always indorse checks with “redeem lawful money per 12 USC Sec 411” and receive same. That is not taxable as I understand it. Should I open a checking or savings account with that stipulation I will not be paid interest upon same BUT that money is not a debt obligation of the bank to me and in theory (i.e. non crooked world) it shall not be loaned and is not at risk as is an interest bearing deposit. ... “
What happened after you opened an interes-bearing checking or savings account with that stipulation; did you get a statement showing you had earned interest?