Does using Federal Reserve Notes place one within equity jurisdiction?
This is another question creating a discussion much about nothing. The answer is no. Today, monetizing debt introduces Federal Reserve Notes (FRNs) into circulation. Some people will argue that whoever holds an FRN in hand is holding evidence of debt and therefore will always find him or herself in equity jurisdiction. This is misleading at best. We provide a detailed discussion about the character of money in our Letters from College section and in Back to Basics—The Nature of Money (page 3). However, the short answer is that once currency is placed into circulation, the character of currency is lost. That is, nobody can determine who borrowed the currency or when. In fact, just because monetizing debt places most FRNs into circulation in no way means this method places all FRNs into circulation. However, a contributing reason why many believe that using FRNs places a person under equity jurisdiction is the overwhelming presence of administrative law. A court that is moved under admin
