Is The Fed A Private Barter Club?

[palani]

http://adask.wordpress.com/2011/10/14/things-to-come-2/


If so, could the U.S. economy, based on use of the privately-issued, US fiat dollar–also be presumed in law to be just another private “barter club”? Is our national economy presumed in law to be a “club“? Insofar as we merely use US fiat dollars, are we presumed to be members of that private “barter club” called the Federal Reserve System? Are we presumed to be subject to certain “laws” of the Federal Reserve System/”Barter Club” every time we use it’s currency?

If so, are those who trade in gold and silver coins deemed to be “members” of a completely different (constitutional) “barter club” and thus subject to a different set of laws unique to their particular “barter club”?

My belief is that these two paragraphs are spot on target.

[Glass]

It's a good question and I think it's on the money. What does the law say about calculating the value of transactions in other barter clubs?

In Australia we had/have several different large scale bartering "clubs". The biggest being bartercard. They were taken to court and forced to convert all barter to an Australian dollar value. All participants are required to include any barter credit in their taxable income. In my opinion this ruling virtually killed that business. It was growing exponentially until then.

The one reason I never got involved. I would have been aquiring barter credit that I could not fully utilise in a financial year and would have to pay tax on it. The tax would come out of my Australian reserve cash position (FRN's equivelant) leaving me in a negative position. You can't pay the tax on barter with barter credits, only ARN's.

So you need to see if the barter is required to be reported into the Federal Reserve system or not. These guys claim everything is theirs from what I can tell so it's likely they have some rule or code regarding this.

[palani]

These guys claim everything is theirs from what I can tell so it's likely they have some rule or code regarding this.

Exactly the point. If you dabble in barter, dabble in gold/silver/pm's, dabble in FRNs or ARNs, then the rules of all three systems must be regarded.

Forget barter. Forget fiat money. Stick with gold/silver/pm's and you have the same issue that the Girl Scouts have when required to abide by Boy Scout regulations ... "Exactly how does that apply to me?"

[iOWNme]

Considering you cant buy property with debt or cant pay debt with debt, i trust that 'club' comes with fringe benefits such as: abolishment of private property, registration and taxation and usury based debtor prisons.

[palani]

Considering you cant buy property with debt or cant pay debt with debt, i trust that 'club' comes with fringe benefits such as: abolishment of private property, registration and taxation and usury based debtor prisons.

Of course. They look out after their own!!!