What's telling in this image, about the nature of these layers, is all of the little stray letters left behind. Virtually every kind of visual element that you or I would consider a cohesive whole is split up.
"None" is split into "Non" and "e." The "D" splits off of "Dunham." The bottom signature is split up, too. Both date stamps at bottom are split into different layers, though in different places. The "R" is split out of "BARACK." In the tiny print you can catch split-out bits of words. "add" "Co"
All of this speaks to a machine driven process, not something that a human being has designed from elements cut and pasted together.
Sorry to all who thought this was the smoking gun.
On another thread, there was a link to a great You Tube video that you did on this matter. I can’t find the link to the video.
As you can see from the image below, the scanning software DID seperate elements as can be seen by the Illustrator handles. These would be picked up as separate layers. I was able to move these elements including the black type. Moving the type did leave a white area beneath it.