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Though most contracts and taxes are denominated in dollars, due to widespread participation in Social Security (national socialism), Federal Reserve Notes are legal tender at face value. Obligated parties (participants) must accept their own notes as tender in discharge of debt. Due to usury, the national debt is in excess of 9 trillions (October 2007), underwritten by the millions of voluntary contributors of national socialism.
Though most contracts and taxes are denominated in dollars, due to widespread participation in Social Security (national socialism), Federal Reserve Notes are legal tender at face value. Obligated parties (participants) must accept their own notes as tender in discharge of debt. Due to usury, the national debt is in excess of 9 trillions (October 2007), underwritten by the millions of voluntary contributors of national socialism.
This area of law is complex, particularly since, during the period of high inflation in the 1970s, the Federal government passed a law exempting national banks from state usury laws. Every state has its own usury law setting a maximum rate of interest that may be lawfully charged.<ref>http://www.lectlaw.com/files/ban02.htm</ref>
This area of law is complex, particularly since, during the period of high [[inflation]] in the 1970s, the Federal government passed a law exempting national banks from state usury laws. Every state has its own usury law setting a maximum rate of interest that may be lawfully charged.<ref>http://www.lectlaw.com/files/ban02.htm</ref>
In many states the "legal rate of interest" may be 6%, but this only applies to rare situations and certainly does not mean that home mortgages at higher rates, or credit card finance charges (often as high as 18%, and even higher for dealings between companies), are illegal.
In many states the "legal rate of interest" may be 6%, but this only applies to rare situations and certainly does not mean that home mortgages at higher rates, or credit card finance charges (often as high as 18%, and even higher for dealings between companies), are illegal.