According to my Webster’s Dictionary, ‘legal tender’ is: “Money that must be legally offered in payment of an obligation, and that a creditor must accept.” Note that legal tender’s definition has no indication of value; just ‘money’ which has been made legal with which to pay bills or satisfy debts. ‘Legal tender laws’ are in effect now, in all of the world, regardless of a nation’s political beliefs or political control. It has to be, because no nation ever balances its budget and always pays its bills with paper money, with no value other than what its government says. Smart people, world-wide, protect themselves by saving in real money, in the form of gold and silver, which goes up in legal tender price, as does everything else, and is not government issued, manufactured, controlled by, or even known about, when smart people turn their legal tender into it.
Legal tender laws make it virtually illegal to use anything as money, but what the legal tender laws say must be used as money. As an example, let’s go back almost 350 years. At about 1690, in mother England, virtually all transactions were completed with ‘specie,’ or gold and silver. Naturally, the king ran out of money, because even then, more was spent than was collected in taxes. What to do? First of all, the gold and silver were mixed with brass or copper, to dilute their actual value, but the diluted gold and silver were still used as money. That worked for a little while, but the deficit spending continued. William Paterson got some friends together and raised 72,000 British pounds in gold. They then started a bank which became, and still is, “The Bank of England,” one of the seventh largest banks in the world. The king borrowed some of the pounds to pay his bills, but quickly, it wasn’t enough. Paterson’s Bank of England, then printed 1,200,000 more pounds, which by that time, had little gold and silver to back them, but they were ‘legal tender,’ and were loaned to the king to pay for deficit spending. It went on and on, till the British pound became like the U.S. dollar is now…virtually worthless, except that when the Brits made the pound ‘legal tender,’ and as dollars now are in America, it was illegal NOT to use them to pay bills. Need some legal tender? Sell a few ounces of your gold and silver real money.
Sound familiar? The Bank of England became the Brit’s answer to our Federal Reserve. The bank printed all that was, and I assume still is necessary to pay British bills, and here, Roosevelt, in 1933, told everyone to turn in their gold and exchange it for paper money. The depression was going full tilt, and guess what? The Roosevelt democrat government ran out of money! They were spending money like water to attempt to get America out of the depression, and they needed more money. (The depression was solved when America was forced to get into WW II). The dollar was officially backed by gold and silver, and gold and silver coins were regularly used as money. Real money. Roosevelt needed actual gold and silver to legally print dollars. I still have a little packet of silver grains I received when I turned in a dollar ‘silver certificate’ many decades ago. Roosevelt needed more dollars to pay bills, and he got it by telling people to turn in their gold or suffer jail time. No one went to jail, and most turned in their gold, in exchange for new paper money, or “LEGAL TENDER.” Congress later removed the official dollar’s having to be backed by gold and silver. The reason coin shops have old U.S. gold coins to sell, is because the few that kept their gold, and refused to trade it for paper money, eventually gave it to their kids, or in some other way, it came into antique dealer’s hands, who sell it today. Incidentally, the U.S. $20 gold coins are the most traded antique gold coins, and command little value over the spot price, there are so many of them, plus counterfeits have been made by the many tens of thousands by communist nations, with real gold, and without a jeweler’s loop, it is difficult to detect the real from the fake.
Thomas Jefferson and Alexander Hamilton were at odds over banking, government, and money. Jefferson wanted small government and states’ rights. Hamilton wanted big central government, a central bank, and federal control over the states and money, as much as possible. It was great for then America, when Hamilton was shot dead by Arron Burr. Hamilton’s ideas and philosophy happens to be the current Democrat idea which they are attempting to make into law, with the federal government controlling elections, rather than Constitutional instructions to make individual states control their own elections. Hamilton got his central bank into law, but it was later vetoed and nullified by Andrew Jackson. It reared its ugly head again in 1913, under very suspicious means, as are detailed in a book everyone should read, and that is, “The Creature from Jekyll Island.”
Today, ‘legal tender laws,’ are virtually universal, and it is not necessary to use force, because the legal tender paper money is all that is available to pay bills with, buy with or sell with, everywhere, under whatever paper money a nation might use. Politicians have it all wrapped up in fancy terminology, such as the ‘government is buying bonds,’ which means they are buying dollars from the Federal Reserve, which created them out of thin air, and is charging the Treasury interest for the ‘loan’ of something of no value, from a privately owned Federal Reserve, which is not ‘federal’ and has no ‘reserve.’ Politicians, U.S. government’s Treasury, and all involved, are participating in a total fraud, just as is the current ‘climate change,’ which has penetrated political, un- scientific, and cooperating media, throughout the world, and is very similar to Adolph Hitler’s ‘Third Reich,’ which managed to control all of Germany’s minds, newspapers, armed forces and politicians with the wonderful fraud that Hitler had created. Germany boomed for a while, till as Margaret Thatcher once penned, that the trouble with socialism is that, “Eventually you run out of other peoples’ money.” Hitler spent his legal tender uncontrollably, and lost the war when he attacked Russia, in violation of his treaty with, and promise not to do so. Hitler’s Third Reich was doomed then, but it took a couple more years for it to sink in, at a cost of 20 million Russians, and a hundred million others in World War Two.
World War Two was fought with American legal tender paper dollars, endlessly produced by the Federal Reserve, and in just a 3 ½ year period, U.S. prices of everything more than doubled in legal tender. The same thing happened in Korea and Vietnam. More paper money and higher prices. When Biden was elected, the first thing he did was to sit down at a desk, with a pile of 48 un-Constitutional ‘Executive Orders,’ which he gleefully signed, and which nullified everything Trump had done. We now have millions of illegals flooding our borders, having been invited to come by Biden, and as Fox News uncovered, planes, in the middle of the night being loaded up with male illegals, and being flown to various parts of America to mix themselves with the rest of us, and of course, a 7% inflation rate.
When Jack Kennedy was elected, he realized a lot of things, which he attempted to correct, and which cost him his life. One of them was to get rid of the Federal Reserve and have the Treasury print their own paper money, and not pay interest to anyone at the federal Reserve. He also was going to get rid of the CIA and bring everyone home from Vietnam. Wouldn’t that have been a godsend to America? No, JFK was not shot and killed by a cheap Italian rifle fired from a window of a book depositary, but shots fired from a grassy knoll, which bullet made an exit wound from JFK’s head. The Warren Commission, like Climate change, was also a fraud which unfortunately has polluted the minds of far too many Americans, as did the 911 affair, and of course the current Covid 19 thing, which most seem to have forgotten, and the media never has publicized, that it originated in communist China.
Don Stott- don@coloradogold.com