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<p>[QUOTE=&quot;fatima, post: 1208057, member: 22143&quot;]Yes they are.&nbsp; Since 1971, this is the only dollar available.&nbsp; Even if you show up with a silver certificate $, or a US Treasury $, it will be treated as a FRN.&nbsp;&nbsp; All other obligations on those dollars were nullified.&nbsp; &nbsp; Furthermore, if you go to your bank and withdrawn your account into dollars, you will be given FRNs.&nbsp;&nbsp; Since the late 1970s, all financial institutions in the USA were forced into the Federal Reserve System.&nbsp; There are no individual banks that issue currency now, i.e. direct debt.&nbsp; </p><p><br /></p><p>As I said earlier, current USD are obligations of the Federal Reserve.&nbsp; They are not obligations on the US Treasury.</p><p><br /></p><p>-----------------------------</p><p><br /></p><p>Relative to this topic, this is why the economies are in trouble.&nbsp;&nbsp; All countries in the world now use this sort of arrangement and in the western world currencies are exactly this model.&nbsp; Bank of Japan, European Central Bank, Bank of England, etc are all other examples of the Federal Reserve in their respective countries.&nbsp;&nbsp; And this is exactly why the economies of this world are failing now.&nbsp;&nbsp; This alliance between governments who have given the banksters 100% control over the currency is supposed to be governed by a strict set of laws and oversight that prevent banksters from using this privilege in destructive manners for profits.&nbsp; However since the Reagan administration these laws where weakened.&nbsp; They were delt a serious blow by the Clinton Administration, and made almost irrelevant by both parties during the Bush years.&nbsp;&nbsp; Obama has further worsened it by absolutely refusing to perform any serious oversight of the banks since he was elected.&nbsp; </p><p><br /></p><p>Without these laws, the banksters get into trouble, and they have to run to the governments to bail them out.&nbsp; Treasuries don&#039;t have to do this, since these are not their liabilities, but they don&#039;t want to deal with the repercussions when the true nature of the people&#039;s money (it&#039;s worthless) is exposed.&nbsp; This entire system works due to the endless obfuscation of the difference between banker currency and national currency (which doesn&#039;t exist now).&nbsp;&nbsp; Rather deal with revolutions they bail out the banksters.</p><p><br /></p><p>So far, there has only been one country that has broken this trend.&nbsp; Iceland.&nbsp; Banksters destroyed that currency, went to Iceland&#039;s taxpayers to bail them out via loans from the IMF.&nbsp; The people there revolted, showed up at the Presidents house with torches threatening to burn it down, and thus the government relented, told the IMF to go to **** and let the currency collapse.&nbsp;&nbsp; Iceland is doing fine now.&nbsp;&nbsp; The banksters didn&#039;t get their bailout and as an added bonus, Iceland threw the ones in Iceland, in jail.[/QUOTE]</p><p><br /></p>

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