By Anna Von Reitz
Just today I was talking with a friend about her concerns about her employer-based credit union and I explained that all banks and credit unions are obligated to "denominate" the digits representing funds in our accounts as "lawful money" if and when we request this.
In real terms this means that you digits have to be interpreted as United States Notes instead of Federal Reserve Notes. It may seem like a small thing, but it's not. Every penny that gets redefined as lawful money reduces the US National Debt by the same amount.
The same thing happens when we endorse every check or other financial instrument with a "limited endorsement" that says, "Redeemed in lawful money -- 12 USC 411". It makes no difference to you or your creditors or vendors, but it reduces the US National Debt by the full face value of the check or other instrument.
If every American Senior did this same thing religiously and converted all their retirement accounts and checking and savings and insurance and mortgage accounts and started "redeeming" them all in lawful money, the US National Debt would plummet like a rock, and the Seniors would enjoy the added security of knowing that their funds were no longer subject to seizure by the banks. Lawful money is a material asset, not a credit. The bank has to carry lawful money as a material liability.
It couldn't happen to a nicer bunch of crooked scumbags.
And for all you youngsters just starting out in the world and thinking two thoughts about retirement and Mutual Funds --- here's a bit of mathematics and insight from one of the Fathers of the Mutual Fund industry:
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