Ever since we (The People or Sheeple), came to the understanding of value of labor and time, we have been conditioned by our parents, educators and others we choose to be in our circle of influence, to know the value of our time and labor. There are movies out there that give us clues and understanding to what maybe perceived as truth by others and stories by those that would like to stifle or balk at the truth because it stands in the way of their progress to be in greater power and increase the power they already hold.
What I present here in this post is truth backed by facts that are available to anybody. The choice is yours to determine where you fit. Do you think outside the box, or do you live and play in the sandbox that you don't own? In times like these, we need to step outside ourselves for the betterment of not only ourselves, but humanity as a whole.
There is a financial term that affects all of us and without understanding the definition, you can't possibly understand finances at all. Full, Faith and Credit is the most mis-understood term and without understanding what it truly means, you don't have a chance of understanding finances at all. Following, is the definition as well as where the definition can be found (fact).
"FULL FAITH AND CREDIT phrase meaning that the full taxing and borrowing power, plus revenue other than taxes, is pledged in payment of interest and repayment of a bond issued by a government entity. U.S. Government securities . . . are backed by this pledge." John Downes and Jordan Elliot Goodman, Dictionary of Finance and Investment Terms, 6th ed. (Hauppauge, N.Y.: Barron’s Educational Series, Inc., 2003), p. 166.
"Full faith and credit" amounts to the U.S. (District of Columbia) Government's faculty to tax the American people.
Good reading other than that:
https://medium.com/@mariabustillos/you-dont-understand-bitcoin-because-you-think-money-is-real-5aef45b8e952
Here is another link of interest;
https://www.treasury.gov/resource-center/faqs/Currency/Pages/legal-tender.aspx
Legal Tender Status;
"...This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.
...Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy."
FULL FAITH AND CREDIT...THE PLEDGE OF THE PEOPLES LABOR!
One last thing before closing the post. ALL LAW IS CONTRACT! If you understand that your life is the total sum of all of the contracts you sign (not create!), you will have a better understanding of why you are where you are in your life. Have you ever heard that your signature is GOLD? Next time you go to sign your name for ANYTHING, understand that by signing your name, you now become the underwriter for the entire contract and all contracts created under the original contract.
Stay tuned, I'll share more about what you need to know.
As always, Passionate About your Dreams; Stay Strong, Press On and Charge the Hill!
jeff