Petition to Legislatures - What is a Dollar

 Sent to State and Federal Legislatures on January 28, 2025 at 2pm MT, including Rand Paul and Mike Lee. 

As your constituent, I write to bring attention to an urgent issue regarding the nature and legitimacy of Federal Reserve Notes (FRNs) as lawful "dollars" under U.S. law. I urge you to take action to restore constitutional and statutory standards for lawful money and address the systemic misrepresentation inherent in our current monetary system.

A Revealing Observation

I invite you to make a simple yet significant observation to highlight the inconsistencies in our current monetary system:

Examine a $100 Bill:

A Federal Reserve Note explicitly states that it is both a "Federal Reserve Note" and a "United States Dollar." However, this labeling is misleading, as it does not align with the statutory and constitutional definition of a "dollar."

Compare with U.S. Minted Coins:

A 1-ounce silver American Eagle coin, issued by the U.S. Treasury, is labeled with a face value of $1 and is defined as lawful money under 31 USC 5112(a).

A 1-ounce gold American Eagle coin, also issued by the Treasury, is labeled with a face value of $50.

This comparison reveals a glaring contradiction. Federal Reserve Notes claim equivalence to "dollars," yet lawful dollars—gold and silver coins—are fundamentally different in nature and value.

Implications for Debt and Redemption

** Any entity issuing debt in Federal Reserve Notes can legally be required to demonstrate that they held actual lawful dollars—gold or silver coinage—on their accounting books prior to issuing such debt. You could wipe out the entire US debt with a simple inquiry. 

** Holders of Federal Reserve Notes can lawfully demand their conversion into lawful dollars, as defined by U.S. Treasury-issued gold and silver coins. A person with just 10,000 FRNs could demand 200 Gold American Eagles, a current market value of $560,000.

The Broader Argument

This observation underscores the broader issue:

1. Definition of the Dollar in U.S. Law

Constitutional Context:

Article I, Section 8 of the Constitution grants Congress the power to "coin Money" and regulate its value. Article I, Section 10 prohibits states from making "any Thing but gold and silver Coin a Tender in Payment of Debts."

Statutory Definition:

Federal law, specifically 31 USC 5112(a), defines lawful dollars as tangible units tied to precious metals, such as the gold and silver American Eagle coins.

2. Incompatibility of Federal Reserve Notes with U.S. Law

Severed Redeemability:

FRNs were initially introduced as redeemable instruments connected to lawful money. However, this redeemability was revoked domestically in 1933 and internationally in 1971, severing their link to gold or silver.

Invalid Consideration in Contracts:

Contracts require valid consideration, defined as an exchange of something of value. FRNs, being fiat currency without intrinsic value, fail to meet this requirement.

3. Federal Reserve Notes as Counterfeits of the Dollar

Misrepresentation:

FRNs are labeled as "dollars" but do not meet the constitutional or statutory definitions of lawful money. This misrepresentation amounts to systemic counterfeiting under statutes like 18 USC 471 and 18 USC 486.

Legal and Economic Consequences:

The continued circulation of FRNs undermines the stability of our monetary system and the enforceability of contracts based on invalid consideration.

Call to Action

Restore Lawful Money:

Congress must ensure that gold and silver coinage, as defined by the Constitution and statutory law, are recognized as the only lawful money.

Hold the Federal Reserve Accountable:

The Federal Reserve and its network of banks should be scrutinized for issuing fiat currency labeled as "dollars," which misrepresents lawful money and violates constitutional principles. The consequences of note doing this cannot be understated. Every day in America 3000 people are evicted from their homes and there are over 500,000 people who are homeless due to this predatory, inflationary, and fraudulent scheme run by private banks. 

Propose and Support Legislation:

I call on you to propose or support legislation that restores the integrity of our monetary system by recognizing only constitutional money as lawful tender and addressing the fraudulent nature of FRNs.

Conclusion

The systemic misrepresentation of FRNs as "dollars" has undermined the constitutional principles on which our nation was founded. By restoring the proper definition of lawful money and addressing the discrepancies in our current monetary system, we can uphold the rule of law and ensure economic stability for future generations.

Thank you for your time and attention to this critical matter. I look forward to your response and hope to work together to address this issue.

Sincerely,

Zachary Moore