Q: Malika ewe keep saying to just sign-n-drive and let that be it but what if they want a down payment of to check ones credit? A: [Businesses accept Applications from customers and deposit them on their corporate bank accounts to get Federal Reserve Notes in the equivalent] 12 U.S. Code § 412. *Application for notes*; collateral required. Any Federal Reserve bank may make application to the local Federal Reserve agent for such amount of the Federal Reserve notes hereinbefore provided for as it may require. Such application shall be accompanied with *a tender to the local Federal Reserve agent of collateral* in amount equal to the sum of the Federal Reserve notes thus applied for and issued pursuant to such application. The collateral security thus offered shall be notes, drafts, bills of exchange, or acceptances... or bills of exchange endorsed by a member bank of any Federal Reserve district... or bankers’ acceptances... or gold certificates, or Special Drawing Right certificates, or *any obligations which are direct obligations of, or are fully guaranteed as to principal and interest by, the United States* or any agency thereof, or assets that Federal Reserve banks may purchase or hold... or any other asset of a Federal Reserve bank. 12 U.S. Code § 411. Issuance to reserve banks; nature of obligation; redemption Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be *obligations of the United States* and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. A: 18 U.S. Code § 8. Obligation or other security of the United States defined: The term “obligation or other security of the United States” includes all bonds, certificates of indebtedness, national bank currency, Federal Reserve notes, Federal Reserve bank notes, coupons, United States notes, Treasury notes, gold certificates, silver certificates, fractional notes, certificates of deposit, bills, checks, or drafts for money, drawn by or upon authorized officers of the United States, stamps and other representatives of value, of whatever denomination, issued under any Act of Congress, and canceled United States stamps. 31 U.S. Code § 3123.Payment of obligations and interest on the public debt (a)The faith of the United States Government is pledged to pay, in legal tender, principal and interest on the obligations of the Government... 15 USC 2509 [loan guarantees] (j) Pledge of full faith and credit of United States The full faith and credit of the United States is pledged to the payment of all obligations incurred under this section. (hh) Vendor means any person, organization, or business concern engaged in a profession, trade, or business and any not-for-profit entity operating as a vendor (including State and local governments and foreign entities and foreign governments, but excluding Federal entities). (b) Vendor payments. All Executive branch vendor payments and payments to those defined as contractors or vendors (see § 1315.2(hh)) are subject to the Prompt Payment Act. [...and who is supposed to #PayTheDebts according to Article 1 section 8?, lol] #MoneyTalk #WhoPaysDebts

Posted by MalikaDulce at 2020-10-28 22:36:27 UTC