Silver Certificates (Act of June 24, 1967)....................................172
Other..................................................................................... 11
Total Not Subject to the Statutory Debt Limit............................. 488
Subject to the Statutory Debt Limit:
Mortgage Guaranty Insurance Company Tax and Loss Bonds....... 215
Other................................................................................... 637
Total Subject to the Statutory Debt Limit...................................852
Total Other Debt..................................................................1,340
Fine. Let this questionable law stand. Use the authority to spend the Treasury account in Federal Reserve Dollars toward the debt, while using U.S. Notes to pay for everything else that there is insufficient funds in FRNs to pay for. This will make it clearer than anything where and how money is actually created.
The president has not just the option to do this, but also the requirement. He would just be following the constitution, something this so-called constitutional scholar has repeatedly failed to do.
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Here is most of the letter I hand-delivered to Representative Jerry Nadler's office a day after we met. It contains a summary of the advantages of U.S. Notes. I have not yet received a reply:
January 22, 2013
Dear Congressman Nadler:
It was a great honor to meet you at the Progressive NYC launch party last night. With your platinum coin idea, you have solidified your reputation as a true progressive, unafraid to think outside the box, a rarity in politics.
To summarize our discussion on Greenbacking last night, these are some of the advantages and features of issuing debt-free money, direct from the Treasury Department:
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