Claims: in currency theory

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05 Sep 2018
Federal Reserve notes are actually promissory notes issued by the Federal Reserve Corporation.

So you get the United States of America Corporation has a deal with the Federal Reserve Corporation to force us to use the Federal Reserve Corporation's promissory notes. And they're not dollar bills. I mean, we call them dollar bills. So they are dollar bills. Every country that uses federal reserve notes calls them whatever their currency is, but really they're promissory notes.