WTP "Historic Lawsuit" Dismissed by DC Circuit

[David Merrill]

FED Stock can be transferred between banks.

Between member banks.

And to be a banker you must have some FED Stock.

No, that is not a correct statement.

I believe it is correct according to the Supreme Court.

[Cobalt Shiva]

FED Stock can be transferred between banks.

Between member banks.

And to be a banker you must have some FED Stock.

No, that is not a correct statement.

I believe it is correct according to the Supreme Court.

Case citation, please.

[notorial dissent]

You are both wrong, quite wrong, absolutely wrong!!!!!!!!!!

Merrill is no surprise, the surprise would be if he ever got something right.

Shiva, shame on you, contact with Merrill is rotting your mind.

There is no such item as “Fed Stock” to begin with. Each member BANK, that is BANK, not person, not individuals, not anything else, but BANK, owns a small, fixed percentage share of the local Fed Reserve Dist Bank. It is a requirement to use the Federal Reserve System, and it is required that ALL banks be members of the Federal Reserve. The share ownership is not transferable, not tradable, not assignable, and not saleable, it is the equivalent of a joint stock membership society. You have to have stock to be a member, and you can’t be a member without stock. It is strictly a book keeping entry, and if the bank ceases to exist so does their stock.

FRNs are not stock certificates, they are not checks, they are not IOU’s or any other bit of Merrillian nonsense, they are legal tender US currency and so designated by statute.

[David Merrill]

For all intents and purposes we are discussing FRNs as elastic. Creating elastic currency is a fancy way of saying counterfeiting money.

There must be a bond behind that elasticity since it only stretches in one direction. Like Cobalt's expanding mind...





Regards,

David Merrill.

[LPC]

For all intents and purposes we are discussing FRNs as elastic. Creating elastic currency is a fancy way of saying counterfeiting money.

There must be a bond behind that elasticity since it only stretches in one direction. Like Cobalt's expanding mind...

Regards,

David Merrill.

Only 14 more posts and I can lock this thread. I'm really looking forward to it.

[LPC]

Make that 13.

[Doktor Avalanche]

For all intents and purposes we are discussing FRNs as elastic. Creating elastic currency is a fancy way of saying counterfeiting money.

There must be a bond behind that elasticity since it only stretches in one direction. Like Cobalt's expanding mind...

Regards,

David Merrill.

Only 14 more posts and I can lock this thread. I'm really looking forward to it.

Now you can reduce it to twelve.

[David Merrill]

endorsement is the supersedeas bond.

[Florida]

endorsement is the supersedeas bond.

Drugs?

[Doktor Avalanche]

endorsement is the supersedeas bond.

Drugs?

Wow! He bears a striking resemblance to Charlie Sheen.

[webhick]

endorsement is the supersedeas bond.

Drugs?

Wow! He bears a striking resemblance to Charlie Sheen.

Or that guy who married Denise Richards.

[notorial dissent]

Make that 13.

Please can we go a little faster.

[webhick]

Make that 13.

Please can we go a little faster.

Can't. Union rules. I'm only allowed to pretend to contribute when my mental instability peaks. It happens several times a day.

[wserra]

Please can we go a little faster.

[Homer]Mmmmm . . . Denise Richards.[/Homer]



If that doesn't make it go faster, I don't know what will.

[Doktor Avalanche]

Please can we go a little faster.

[Homer]Mmmmm . . . Denise Richards.[/Homer]



If that doesn't make it go faster, I don't know what will.

My heart is beating faster. Does that count?

[sucker4lush]

...Someone calling herself Doktor Avalanche teases someone else for using his real given name...Others join...

[sucker4lush]

One of the voices in David Merrill's head:

...any time we wish to add to the national wealth, we are compelled to add to the national debt.

Thomas Edison

[sucker4lush]

Another of the voices in David Merrill's head:

Fiscal and monetary policies are just euphemisms for debt creation.

Prof. Ravi Batra

[sucker4lush]

Another voice in David Merrill's head:

...And when they run out of money, our elected leaders just print more. You know what they call that in middle America? Counterfeiting.

Joe Scarborough

[sucker4lush]

Another incoherent babbling voice:

Where did the money come from? It came- and this is the most important single thing to know about modern banking- it came out of thin air. Commercial banks- that is, fractional reserve banks- create money out of thin air. Essentially they do it in the same way as counterfeiters. Counterfeiters, too, create money out of thin air by printing something masquerading as money or as a wherehouse receipt for money. In this way, they fraudulently extract resources from the public, from the people who have genuinely earned their money. In the same way, fractional reserve banks counterfeit wherehouse receipts for money, which then circulate as equivalent to money among the public. There is only one exception to the equivalence. The law fails to treat the receipts as counterfeit.

It should be clear that modern fractional reserve banking is a shell game, a Ponzi scheme, a fraud in which fake wherehouse receipts are issued and circulate as equivalent to the cash supposedly represented by the receipts.

Prof. Murray Rothbard