Originally Posted by TSORon
Originally Posted by greentips
1. I never said anything about destroying currency.
2. If it is in my possession, it is simply not the government's money and will never be the government's money unless I hand it to the government to pay a legal debt, usually taxes, but as I've found out, the IRS doesn't accept cash.
It may be the government's currency, but it is, in fact, my cash. The government is not permitted to have any interest in it.
Therefore, your response, as have been so many others, is a non sequitur.
Interesting theory, but incorrect. Sorry about that, but the facts is the facts.
Theory is in fact, correct. But to be doubly sure, the associate dean of a very noted, top 5 ranked law school goes to my church. I asked him over brunch about this. According to him, who is far smarter in these matters than I, and with unquestioned expertise, the congressional intent of the quoted law is to prevent counterfitting of the currency by fraudulently presenting a bill that has been damaged in exchange for one that has not. this is why the fed has a rule that it will not issue a new bill for a damaged one unless more than 50% of the damaged bill is presented to be exchanged. You are not allowed to damage a $20, present 51% of it to the treasury for a new twenty then present the 49% for another new twenty. Otherwise, burn away. As to the ownership of the cash, it is in essence a bearer instrument. Who has it in his possession owns it. No one else.
I am, in fact, correct, unless the good professor is also incorrect. Always a possibility, but I think, a very remote one.