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**Kalobbis** · 05-17-2012, 10:49 PM

it goes back to ancient Rome

I doubt if a Roman would think to write his slaves name in ALL CAPS.

Are you suggesting that it is not the labor of the people that backs a FRN?

FRNs are borrowed into existence but then 12 USC 411 makes it clear that they are only to be used for transactions between Federal Reserve banks AND THEIR AGENTS.

05-17-2012, 10:49 PM	#10
Kalobbis Join Date Oct 2005 Posts 488 Senior Member	it goes back to ancient Rome I doubt if a Roman would think to write his slaves name in ALL CAPS. Are you suggesting that it is not the labor of the people that backs a FRN? FRNs are borrowed into existence but then 12 USC 411 makes it clear that they are only to be used for transactions between Federal Reserve banks AND THEIR AGENTS.
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