Your Money, My Money, Our money, But who’s Money is it really?

Before we begin:

*photo source

So what would happen if the United States of America, were to print its own money, Instead of the FED?

The better question in life is what is the real difference between a 1.00 Bill and a $100.00 bill?

I have through out my short time on this earth from time to time pulled out a $1.00 bill from my wallet and a $100.00 bill and asked people that I have met If I was to give you one of these bills which one would you want.

Ironically there was only four times someone said they would take the 1.00 bill over the 100.00 bill.  Of course my eyes light up over such, because this is a moment where someone is not affected by the thing called greed. So I have always asked those people this question. Why would you not want to take the 100.00 bill? They all said I do not want to be in your debut. Because no one gives you money with out wanting something in return. I am not sure that I can afford your gift. This has always been something that has impressed me to an extent. I guess it is more important to keep in mind with these experiments are usually conducted in a public place such as a coffee house or a bar with someone I do not know.  However, my these handful of people be wiser than they let on? Was I going to really give them the 100.00 bill. Of course not. I did always give the person I posed this question the 1.00 bill for their time.

I do have my motives of introducing the oddity of the findings first for a reason.

The standard result from the majority of the people that I asked said they would take the 100.00 bill. I asked them well why they did not choose the 1.00 bill. Their response was always the same and similar to the following: ” The 100.00 bill is worth more.”  Which allowed me to ask another question. That question is “why is the 100.00 bill worth more?” Some of these people look at me like I am crazy after I ask this question. But most say something cute, well the 100.00 bill will give me 100 of those 1.00 bills, Or the blanket obvious the 100.00 bill goes further than a 1.00 bill and will buy more things.”  I will thank them for their observation and tell them I have one more question for them at this point. “What really makes this 100.00 bill worth more than the 1.00 bill” they usually will say something well because it is, or the Government says it is.” I ask again, what makes this 1.00 bill worth more than the 100.00 bill.  Usually someone becomes slightly frustrated, and rewords what they already said. I then tell them that. No they are wrong about a few things. That the 100.00 bill has the same value as the 1.00 bill and that the 100.00 bill just like the 1.00 bill has no real value but what you think it is, and that as long as people accept it for the goods that you are buying and then it will have that value. That in all honesty it does not cost the bank any more money to print the 100.00 bill over the 1.00 bill. Thus, creating no real additional value over the other.

I also then trifle on some dangerous territory and inform the individual that the money in my hand is not issued by the Government but a Private institution. That the only money that is real money that is issued by the government is the change in your pocket, and that possibly is the only legal currency to exist. I then tell them that the quarter in their pocket very much has more value than the 100.00 bill in my hand. As it is actually made of a metal that has some value in one way or another. Most are confused by this point and I hand them the 1.00 bill, and thank them for their time.  Every great once in a while, I will run into the person I asked such questions to again, and a few will approach me and tell me Something similar to one of the following quotations: “Man I think you are on to something big.”, One person said to me, “it might be in your best interest to not be doing such experiments, If people knew the truth that you do, they might panic, or create a revolution”, “I looked into what you had to say to see if you were just some nut job, but turns out your right.”  “So I was thinking and asked so and so my smart friend who went to college if you were right, They said they would look into your claims, Turns out you are right, who do you work for, what are you hoping to do when you tell people what you did months ago?”   I ought to come up with another questionnaire for those few and far between people that come and say something when i meet them again down the road. But I have not. My comments to those who probe down the road to why did you teach me that? My response is “Knowledge is Power, It is up to you to decide how to use that power.” and walk off.

I should ask those people that I meet again if they have shared the knowledge or experiment with their friends and family. Maybe with a 1.00 bill and 5.00 bill if they do not have a 100.00 in their wallet. If they say yes. Then I should ask them to keep a detailed record of the events who where and responses. And follow up responses down the road, and if we were to ever met again email me those results.  Ask them once they have looked into it what does this mean to them? Has it made any impact one way or another?  With this knowledge how does it empower them or discourage them? What do they think should be done. So on and so forth.  :End:

Here is something that is interesting as well. Why do they call a 1.00 dollar bill a “BILL”? This possibly could be another experiment or demonstration regardless to get people talking about their money. Paper money is called a bill.  Here is what the dictionary has to say about bill.

bill  Origin

noun1.a statement of money owed for goods or services supplied: He paid the hotel bill when he checked out.2.a piece of paper money worth a specified amount: a ten-dollar bill.3.Government . a form or draft of a proposed statute presented to a legislature, but not yet enacted or passed and made law.4.bill of exchange.5.a written or printed public notice or advertisement.6.any written paper containing a statement of particulars: a bill of expenditures.7.Law . a written statement, usually of complaint, presented to a court.8.Slang . one hundred dollars: The job pays five bills a week.9.playbill.10.entertainment scheduled for presentation; program: a good bill at the movies.11.Obsolete .a.a promissory note.b.a written and sealed document.c.a written, formal petition. *source

Interesting right?
But who’s money is it anyway.
I have already stated that the dollar bills in your pocket are not printed by the US government. What I have not stated is who insures the money or backs the money. Interestingly enough you will find that the US government does not back that money with anything neither does the FED.  What is the Fed? Well the Fed is short for Federal Reserve, which is a Private Institution. You will see Federal Reserve Note, on every dollar bill regardless of denomination in your wallet. ** disclaimer** you might actually have a non federal reserve note in your wallet. Which could look like this.
or possibly this which is a United States Note
Now it is very similar to a Federal Reserve Note, but this would be a non federal reserve note. Silver certificates were discontinued in 1968 and all Non Federal Reserve notes were discontinued after 1971.  So it is possible that you have something “special in your wallet” but they are no longer redeemable for silver or gold or what have you.  Which is why our money was called a bill in layman’s terms, or promissory note for those who might be more legal buffs than others.  Because they were promising that they were worth something worth more physical value than the Cotton paper they were printed on.
So what does this really mean?  Well, a couple of things. 1. The Federal Reserve is printing money that has no real value other than that of what the consumer thinks it is worth. I chose the word consumer for a reason because the Dollar Bill that you worked for one way or another is actually a good. That is sold to the banks, government etc.. Thus, coming down to you to buy other goods that you may or may not need. Fiat money. Money that is well backed by nothing but good will and standings. A decree by those who make it and use it as currency that is is worth well what ever it says on the front of it.  However, Fiat money does not make any promise of backing it or that it is good. It merely states on the front of it that “THIS NOTE IS LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE”.  You will notice that there has been a variant of such for quite some time on bills even those which were not Fiat currency of sorts. Such as the 1 dollar silver certificate bill
The word NOTE has been changed to CERTIFICATE.  If we look at the 1928 United States 2 dollar Note however, we will notice a slight change in the wording which reads “THIS NOTE IS A LEGAL TENDER AT ITS FACE VALUE FOR ALL DEBTS PUBLIC AND PRIVATE” Which is interesting inside itself. But why is this on our paper money in one form or another?  Well it is simple, if I owe someone a debt, this money has to be accepted as a form of payment, assuming that the contracted debut did not specify a different currency but it usually will specify a particular currency such as USD. However, if someone did not accept that bill as a form of payment, then the debt would be null and void, making the previous debt no longer binding.  In other words, if you do not accept this money as repayment then I owe you nothing.  Interesting right.
So why is these words all CAPS? Well to make it official it needs to be. I will not go into the legal reasons behind it. Just take extreme notice to what the Government does and how it works and what not you will notice on certain paper work you will find your NAME such as my pen name in this case THEPHILOSOPHER, while this is really not my LEGAL name you can get the the picture. So if you have ever been to court, had to fight a legal battle regardless of how where and or why Civil or Criminal battle. You will notice at the top of the page you will see something like THEPHILOSOPER VS. JOHN Q PUBLIC in caps.  Now who other than the government uses ALL CAPS TO WRITE THEIR NAME OR YOUR NAME. Interesting right? But that is for a different day and I won’t get into it.
So Who really owns your money? Is it your Money? Is it our money? Well that is up for debate you will have to make up your own mind.  Do you really own that money in your pocket. I honestly don’t think so.
So I never did answer my first question in this blog. I have a very good reason for this. I want you to think. This will require some investigative work on your part. It will cause you to have to use your research to form your own opinions or Ideas.  I will however make some  suggestions at where to start your research so here it goes: Look into the Federal Reserve when it was created. Find out if I am telling the truth if it is a Private Institution.   Also you could look into President Lincoln’s “GreenBacks”dollar. But focus on why it was created, and if it had any backing, or better yet what was the backing behind those notes.  I suggest you do research and see what you can pull up on the UNITED STATES NOTES, how they were backed and the reasons why they existed? Those are a few places to start. As a professor once told me, “knowledge that you have to work for you will remember for a lifetime.”   Which is true, and could bring about the next blog which should be Properly Titled Generations before the Internet Age or (age of knowledge), smarter than our Generation?
But in all due time..
~The Philosopher~
*If there is an unfortunate error in facts to be found. Please notify me immediately. I will delete, make an amendment, or correct any error that is found if based off of fact.  I will look into the matter make note with an * saying this may not be correct, doing research and proper amendments will be made upon completion of such said research.  All facts, ideas, hypothesis are presented with good faith.