United States banks insolvent

[Zanzibar]

I am writing this to inform as many people as possible about a terrible situation with my country's banks. I work at a gas station. I recently aquired a real, united states issued silver certificate. (customer handed it to me in payment for an item, I exchanged it for a more modern dollar bill out of my wallet).

So, today, I go to four seperate banks in Fort Lauderdale, FL; Bank of America, Bank Atlantic, Wachovia, and Citibank. Not a single one was able to pay me in silver upon demand, as required by federal law (under thier FDIC insurance). The bank with the absolute worst handling of this, was Bank of America. They called security when I made my demand (it does say on the bottom of the bill that I must demand it... I'm well within my legal rights to do so) to be payed in Silver.

The best bank, was Bank Atlantic, who directed me to the nearest federal reserve branch in Miami, Florida. I am very sadly dissapointed in my financial institutions today by thier inability to back one, single, dollar bill by any real form of money.





Some more, interesting reading about this issue

Did you know that the only legal MONEY of the united states, that has not been modified by congress is the EAGLE? I would suggest from this day forward, armed with this knowledge, you do all future money transactions in EAGLES and CENTS instead of DOLLARS.

[utilae]

Hmmm, here in New Zealand our $1 and $2 are coins. The lowest our notes go is $5.

Is it annoying to have $1 as notes ?

[noelte]

US money is anyway somewhat bad. All values look the same. Sizes also match. When you talk about silver, you meant 1-dollar coins, right? Even i think they react strangely too, where is the point to insist on it. I guess is much easier for a bank to handle paper than coins.

In germany, some special coins you have to get from "Bundesbank", it's the bank from the >state<, if you like. Maybe in US there is something smilar...

[Zanzibar]

Well, not only does American money come in dollars and cents, but it also comes in Eagles. I would suggest, if you want your american money actually backed up by a piece of metal, doing business in Eagles instead of Dollars. It is lawful money, as defined by congress,Act of April 2, 1792, 1 Story's L. U. S. 229. Section 1.9 (and never changed after that by another act of congress... The only acts of congress changing united states money afterwards have been in Dollars).

[Moriarty]

Bank Atlantic had the right idea in forwarding you. Normal banks shouldn't have to keep large quantities of silver/gold lying around - all they do is provide independent banking facilities.
The money itself ($1) is owed by the US government, not a private banking facility. Thus the federal reserve (or similar federal institutions) is the only real place I'd expect to be able to exchange a dollar for bullion.

So unless you did indeed try to get the money from the reserve I think you've got yourself a non-issue.

[marhawkman]

More ado about nothing.....
PAY ATTENTION!

It says "This certifies that there is on deposit in the treasury of the United States of America One Dollar in Silver payable to the bearer on demand."

Note the bold part, it means that only a FEDERAL BANK should be expected to be able to actually give you the silver.

[Moriarty]

Basically what I said, only more concise.