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October 20, 2019 | Digital $ (our money) NOT approved Legal Tender! Let’s Understand!

Donald B. Swenson: Born January 24, 1943, Roseau, Minnesota. Graduated H.S. 1961, Moorhead High, Minnesota. Graduated College 1968, Moorhead State University, Minnesota. Designated member of Appraisal Institute (MAI), 1974. Employed with Western Life Insurance Company, 1968 – 71; Iowa Securities Company, 1971 – 73; American Appraisal Company, 1974 – 81. Part-time teacher/valuation consultant/bartender, 1979 – 2008 (taught workshops at Waukesha County Technical Institute, Wi. and Madison Area Technical College, Wi.). Retired 2008 (part time teacher/blogger), AZ. Self educated economist/philosopher/theologian: http://kingdomecon.wordpress.com.

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Are you aware that the electronic dollar (also called the ‘digital’ dollar, cyber dollar, and virtual dollar) has not been approved by our Congress or our Courts as official legal tender. This is why I state that our banking system is now criminal and illegal (especially the Fed). The officials within our banking system are creating VIRTUAL dollars (from their thinking – in the trillions) and then calling these computer digits official legal tender. But who approved the ‘digital’ $ as our legal tender? Who has approved this electronic digit which circulates as our ‘dollar’? Does this unit of the mind EXIST (where)? Let’s think on this issue!

Our Congress has not approved this virtual/digital dollar IMO. Our court system has not adjudicated this dollar so as to convey legal tender status upon it IMO. The only dollar which our Congress has approved is outlined in the Coinage Act of 1965 and the Federal Reserve Act of 1913. Read these acts to discern what is approved legal tender for all debts public and private (and goods/services). And also for international trade!

Coinage Act of 1965
President Johnson enacted S. 2080 as the Coinage Act of 1965 with his signature on July 23, 1965
Public law: 89–81

1] Federal Reserve Notes are authorized by Section 16 of the Federal Reserve Act of 1913[2] and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System.[2] The notes are then put into circulation by the Federal Reserve Banks,[3] at which point they become liabilities of the Federal Reserve Banks[4] and obligations of the United States.[2]

Federal Reserve Notes are legal tender, with the words “this note is legal tender for all debts, public and private” printed on each note.[5] They have replaced United States Notes, which were once issued by the Treasury Department. Federal Reserve Notes are backed by the assets of the Federal Reserve Banks, which serve as collateral under Section 16.[6] These assets are generally Treasury securities which have been purchased by the Federal Reserve through its Federal Open Market Committee in a process called debt monetizing. This monetized debt can increase the money supply, either with the issuance of new Federal Reserve Notes or with the creation of debt money (deposits). This increase in the monetary base leads to a larger increase in the money supply through fractional-reserve banking as deposits are lent and re-deposited where they form the basis of further loans. Note: legal tender units are money units which EXIST!

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The Digital $ (dollar): What is it? Does it Exist? Nothing can be ‘printed’ on a virtual dollar! Think about this! Our virtual dollar is nothing and derives from the human consciousness (as a mental abstraction/number). It technically does NOT ‘exist’!

Back in 2015 or earlier (I don’t have the exact date) Ms. Yellen, then our Chairperson of the Federal Reserve, was asked if the digital dollar ‘existed’ (the question came from Senator Bob Corker of Tennessee). I remember this question being asked. Ms. Yellen’s response was YES, the digital dollar does EXIST. But is this valid? Does a virtual/digital $ exist within our space/time universe? I would suggest NO. A virtual/digital unit ($1) is merely a symbol ($) and a number (1.00). It is not a ‘thing’ which EXISTS. It is a mental abstraction and/or a unit of my/your consciousness. It derives from the human mind.

Our official money is supposed to be a ‘thing’ which EXISTS (paper/metal/silver/gold). The idea that a ‘virtual’ unit of a banker’s mind ($1) is equal to a money item composed of matter is obviously invalid. Money is supposed to EXIST so that it can be exchanged (from person to person, from customer to retailer, from investor to corporate producer). Money has always been SOME THING (matter). Virtual units of money are IMAGINARY. Think about what our banksters are now doing with these VIRTUAL ($$$$$) units of counterfeit/fake money. They create these units electronically with a typing of numbers into a computer account. Is this valid legal tender? I would suggest, absolutely NO.

We are now living with an illegal monetary system and unconstitutional money. Our money is FAKE and IMAGINARY. It is not real/physical or a substance of matter. Our Fed (Mr. Powell, et al) have just created (electronically) some $253 billion of new money units for their SOMA account. These units are VIRTUAL. The units (called dollars) should not be viewed as official LEGAL TENDER. They are COUNTERFEIT units of a bankster’s MIND. The units get typed into a cyber computer account. The units live within CYBERSPACE (a space which is part of my/your extended consciousness). This is criminal money being created and the entire Fed System is now CRIMINAL. Wake up to this criminality!

Our CONGRESS needs to look into what our Fed is doing and then appoint a committee to legislate a new digital dollar (if this can be demonstrated to exist) and/or announce to the American people that the entire system is a criminal operation which must be closed down. My view is that VIRTUAL dollars (called digital dollars) are mental abstractions and/or units of my/your consciousness. These can not act as official units (our legal tender). These units are fake, counterfeit, imaginary, and unlawful. They are also totally unconstitutional. Think on this issue to discern what is valid and what is fantasy! Why should Mr. Powell have the authority to create imaginary/virtual/digital dollars for the 1%? It’s CRAZY and ILLEGAL!

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Has our Congress approved Powell’s digital money as our legal tender? He just created some $253 billion for his balance sheet (a new liability)!

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Today I buy and sell with digital/virtual dollars? What are they? Do they ‘exist’? What is cyberspace and where does this ‘space’ reside? Think on this!

Have a great day and pass this missive on to people who desire to THINK on these issues. We must get real about issues of MONEY. I am: https://kingdomecon.wordpress.com.

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October 20th, 2019

Posted In: Kingdom Economics

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