Bill of Exchange Now we will turn our attention to the bill of exchange. You might be wondering where people got the idea of using a bill of exchange. The idea came from a Federal Reserve publication. Modern monetary systems have a fiat base – literally money by decree – with depository institutions, acting as fiduciaries, creating obligations against themselves with the fiat base acting in part as reserves. The decree appears on the currency notes: “This note is legal tender for all debts, public and private.” While no individual could refuse to accept such money for debt repayment, exchange contracts could easily be composed to thwart its use in everyday commerce. However, a forceful explanation as to why money is accepted is that the federal government requires it as payment for tax liabilities. Anticipation of the need to clear this debt creates a demand for the pure fiat dollar. [“Money, Credit and Velocity,” Review, May, 1982, Vol. 64. No. 5, Federal Reserve Bank of St. Louis, p. 25] The Federal Reserve is saying that the people could easily replace the use of Federal Reserve Notes in daily life by using exchange contracts. This is very interesting idea. It means that we can use exchange contracts to discharge out debts. So what is an exchange contract? The legal dictionaries do not give a definition for “exchange contract.” So, let’s see what the words mean individually. Contract. An agreement between two or more persons which creates an obligation to do or not to do a particular thing. It’s essential are competent parties, subject matter, a legal consideration, mutuality of agreement, and mutuality of obligation. … [Black’s Law Dictionary 5th Edition] Exchange. To barter; to swap. To part with, give or transfer for an equivalent… [Black’s Law Dictionary 5th Edition] exchange. … 2. The payment of a debt using a bill of exchange or credit rather than money… [Black’s Law Dictionary 7th Edition] Taking these two words together, it seems reasonable to conclude that an “exchange contract” is a contract in which equivalent value is transferred between two parties under the terms of a contract. Black’s 7th edition also indicates that an exchange can include a bill of exchange. So, what is a bill of exchange? Bill of exchange. A three party instrument in which first party draws an order for the payment of a sum certain on a second party for payment to a third party at a definite future time. Same as “draft” under U.C.C. A check is a demand bill of exchange. See also Advance bill; Banker’s acceptance; Blank bill; Clean bill; Draft; Time bill. [Black’s Law Dictionary 5th Edition] So a bill of exchange is also called a draft, but what is a draft? Draft. A written order by the first party, called the drawer, instructing a second party, called the drawee (such as a bank), to pay a third party, call the payee. An order to pay a sum certain in money, signed by a drawer, payable on demand or at a definite time, and to order or bearer. … An unconditional order drawn by a drawer on drawee to the order of the payee; same as a bill of exchange. U.C.C. § 3-104. See also Check; Documentary draft; Redraft; Sight draft; Trade acceptance. [Black’s Law Dictionary 5th Edition] So, a bill of exchange is the same as a draft and a check is a demand bill of exchange. We are all familiar with a check, which is just a special form of a bill of exchange. It appears to be possible to use a bill of exchange to access what the government owes us: our exemption. Before you can issue a BoE, there are several steps that should be completed. These include: copyrighting your straw man name as a trade name/trademark, signing a security agreement between you and your straw man, filing a UCC-1 with both your birth state and your state of residence, and establishing an account with Secretary of the Treasury. Each of these pieces is critical and they must be done in a specific order. It appears that the straw man was created by the government. Therefore, based upon the principle that someone who creates an entity owns the entity, the government owns the straw man. It is not clear exactly what kind of entity the straw man is. Some have suggested that it is a trust while others say it is a corporation sole (a corporation of one). For our purposes, it does not matter. What does matter is that we must take control of the straw man, both its name and its finances and assets. We can take control without taking ownership. By copyrighting your straw man’s name as a trade name/trademark, you will take control of the use of the straw man’s name, but not the entity. A common law copyright is the type of copyright we use for this purpose. You have the right to copyright the straw man’s name because it was created from your true name, which is your full birth name printed in with upper and lower case characters, e.g. John Quincy Public. The names that you would copyright would include all spelling variations of your true name except the true name itself, e.g. JOHN QUINCY PUBLIC; john quincy public; JOHN Q. PUBLIC; John Q. Public; JOHN Q PUBLIC; John Q Public; JOHN PUBLIC; John Public; J. Q. PUBLIC; J. Q. Public; J Q PUBLIC; J Q Public; PUBLIC, JOHN QUINCY; Public, John Quincy; PUBLIC, JOHN Q.; Public, John Q.; PUBLIC, JOHN Q; Public, John Q. The true name itself can’t be copyrighted. The copyright notice is either recorded with a county recorder in your state or published in a newspaper once a week for four weeks. The copyright name has to be established before you can file the UCC-1 because the filing is done using the copyrighted name as the debtor on the UCC-1. Corporations and the government can only deal with legal fictions. So, all contracts and official records are in the straw man’s name. Title to all property, bank accounts, stock accounts, licenses and permits, and everything else is all held in the straw man’s name. Once the straw man’s name has been copyrighted, you can create a security agreement. The security agreement is a contract between you, the living soul, and the straw man. This contract pledges everything that the straw man now owns or will ever own to you. This is reasonable because, without you, the living soul, the straw man would own nothing. After the security agreement has been executed, you can file a UCC-1. In order for a UCC-1 filing to be legal, there must be an agreement between the parties. The security agreement is the contractual evidence upon which the UCC-1 filing is based. The UCC-1 filing is a public record of a lien that exists upon all the assets of the straw man to secure the debt the straw man owes you for your labor. The priority of this lien is based upon “first in time is first in line”. This means the first lien filed has priority over all subsequent liens. Anyone who has a lien with lower priority can’t get paid until the first priority lien holder is satisfied. Since you, the living soul, have a lien on everything the straw man will ever own, this effectively means that anyone else who files a lien after yours will never get paid. So, the UCC-1 can be a very powerful defense against all who would attack the finances of the straw man, including but not limited to IRS liens. A UCC-1 should first be filed in the your birth state (if you were born in another country, it would be where you were naturalized) because that is where the straw man was created. Your birth certificate was recorded with the county recorder and, within 14 days, then sent to the State Department and monetized. A UCC-1 should also be filed in the state where you reside, if different from your birth state, and any state in which the straw man owns real property. The UCC-1 lists the copyrighted name as the debtor and the living soul’s name as the secured party. This allows you to differentiate between the straw man and the living soul. If the state where you file the UCC-1 thinks the debtor and the secured party are the same person or entity, the state will refuse to file the UCC-1. Some states are extremely difficult to file UCC-1’s in. If that is the case, you may record within your UCC Region. Once the UCC-1 is filed in the birth state, you can establish a personal UCC Contract Trust Account with the Secretary of the Treasury. This is accomplished by sending the Secretary a cover letter, an initial BoE, a copy of the UCC-1 from your birth state and other documents. The Secretary will send these documents to the UCC Department of the IRS. If all of these documents are properly prepared, the IRS UCC Department will establish the UCC Contract Trust Account; however, you will not receive any notification whether your documents were correct or even if the UCC Contract Trust Account is set up and operational. So, you must know what is required and take it upon yourself to correctly follow each step and have every detail perfected. The Secretary and the IRS won’t help you. Only after the UCC Contract Trust Account has been established can you successfully issue BoEs. If you issue a BoE before the account is established, the Secretary will dishonor and refuse to do the ledgering for your BoE. Obviously, there is a tremendous amount of detailed information about how to accomplish all of these steps that has not been covered here. All this detail and exactly how to prepare and issue a BoE is beyond the scope of this essay. But I would strongly advise that you not attempt to perform all of these steps without some help by someone who knows what they are doing. There is simply too much that can go wrong. At this point, you are no doubt wondering what a BoE looks like. The next page contains a sample. Notice that there are several sections of text in green ink. These are variables that must be customized. When sending a BOE, the original charging instrument that has been accepted for value (A4V) must be included and it must be sent by certified mail. A copy of the entire package must also be sent to the Secretary of the Treasury so he will know that you have authorized the BoE. The BoE package to the creditor must have attached the original presentment (bill) with an accepted for value wording written on it and signed. There are many variations of the A4V wording, but here is the wording that I recommend: Non-Negotiable Non-Transferable Charge Back Office Holder - Secretary of the Treasury I accept for value all related endorsements in accordance with UCC 3-419, HJR 192 and Public Law 73-10. Charge my Private UCC Contract Trust Account Employer Identification # for the registration fees and command the memory of account # to charge the same to the Debtor’s Order, or your Order. Employer Identification # – Bond # – Pre-Paid – Preferred Stock – Priority Exempt from Levy – Posted: Certified Account Invoice #___________________ Date __________ ________________________________________ $ $ BONDED BILL OF EXCHANGE ORDER Bill of Acceptance – Time Draft - # NOT A SECURITY – NOT FOR DISCHARGE OF PUBLIC DEBT , Secured Party—Drawer Date: c/o To: Secretary of the Treasury, Department of the Treasury Bank – ABA Ledger #000000518 No later than 15 days after receipt, please Credit the account for at --------------------------------------------------------- $ Personal Treasury UCC Contract Trust Account # The obligation of the Drawee (acceptor), Secretary of the Treasury, through the bailee (authorized agent) of Claimant’s financial institution, TTL Department, hereof arises out of the want of consideration for the pledge and by the redemption of the pledge under Public Resolution HJR-192, Public Law 73-10 and Guaranty Trust Co. of NY v. Henwood et al, 307 U.S. 247 (FN3), represented by the attached claim Accepted for Value and bearing the account number # . This claim document Order complies with UCC 3-104, the terms of the original contract, hereby surrendered as said pledge is redeemed (discharged) by the drawer through the attached document by acceptance for value and exempted from levy. Federal regulations require Claimant’s financial institution to accept this bill, sign and present directly via Certified or Registered mail, Return Receipt to the Secretary of the Treasury — Department of the Treasury on Drawer’s UCC Contract Trust Account. Unless the original Negotiable Instrument is dishonored in writing within 15 days of receipt by the Secretary of the Treasury Claimant’s financial institution is to release the credit on hold to the payee (Claimant) within the time stipulated by Regulation “Z”, Truth in Lending Act or on the date designated, whichever is later. The amount of this accepted draft is to be ledgered by Claimant’s financial institution, TTL Department, to the designated account for the discharge of this claim (Regulation Z). Bond # These are Certified Funds. NOTICE: The law relating to principal and agent applies. by ______________________________________________ Bailee’s signature (authorized bank TTL agent) w/o prejudice Accepted at __________________________ (city), _______________ (state) on __________ (date) Document Copies filed with the DTB _____________________________________ Drawer, Secured Party-Creditor; Without Recourse To be processed as a check – Do not present for collection $Bonded Negotiable Instrument - Void Where Prohibited By Law. $
Posted on: Sat, 01 Nov 2014 13:07:26 +0000
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