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To: Pylot
Stock? Except that a company issues stock and hopes someone will buy it. No one is compelled to. But we are compelled to accept FRNs as legal tender. That makes it something different.

Under the money act of 1792, your real work would be paid for in real metal you would hold yourself, privately.

Today, your real work is paid for in symbolic money which means the central bank holds your pay in a constructive trust for you. Your money is not your pay. Your money is not even yours. But are tokens representing your share in the trust pool of tickets. Worse, all the tickets are lent to someone so they represent interest bearing debt, either to an individual or the government. Williams article is a good one because it warns us that we cannot trust the central bank to protect the purchasing power of the tickets.

You can get a portion of your wealth out of the trust by selling some FRNs for gold and holding it privately. This action severs your involvement with the CB to the extent you choose not to employ them as wealth trustees for your estate.

55 posted on 11/16/2005 11:57:22 AM PST by Jason_b
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To: Jason_b
You can get a portion of your wealth out of the trust by selling some FRNs for gold and holding it privately.

But if you can sell FRNs for gold, doesn't that mean FRNs have real value? I mean, who would sell gold to someone for, as you describe it, "symbolic money"?

66 posted on 11/16/2005 12:27:16 PM PST by SolidSupplySide
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