Bongo Bucks n. pl. ((b
ng
g
, b
ks)
1. Cash from another country other than you own. I need to go to the bank and change my dollars into bongo bucks. 2. Money obtained via massive returns on little or no investment. example: Selling the Brooklyn Bridge.
Screwed by the Government
The Biggest Bongo Buck Scam Ever
Federal Reserve Notes are authorized by Section 411 of Title 12 of the United States Code and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System (THEM). The notes are then put into circulation by the Federal Reserve Banks. Once the notes are put into circulation, they become liabilities of the Federal Reserve Banks and obligations of the United States.
The authority of the Federal Reserve Banks to issue notes comes from the Federal Reserve Act of 1913. Legally, they are liabilities of the Federal Reserve Banks and obligations of the United States government. Although not issued by the Treasury Department, Federal Reserve Notes bear the signature of the Treasurer of the United States and the United States Secretary of the Treasury.
At the time of the Federal Reserve’s creation, the law provided for notes to be redeemed to the Treasury in gold or “lawful money.” The latter category was not explicitly defined, but included United States Notes, National Bank Notes, and certain other notes held by banks to meet reserve requirements, such as clearing certificates. The Emergency Banking Act of 1933 removed the gold obligation and authorized the Treasury to satisfy these redemption demands with current notes of equal face value (effectively making change). Under the Bretton Woods system, although citizens could not possess gold, the federal government continued to maintain a stable international gold price. This system ended with the Nixon Shock of 1971.
Present-day Federal Reserve Notes are not backed by convertibility to any specific commodity, but only by the legal requirement that they are issued against collateral… basically our ass, smoke and mirrors.
There… It’s 2013… I said something… Bullshit Bongo Bucks… And as soon as enough people figure this out the almighty Dollar isn’t going to be worth the paper it’s printed on.
Happy New Year… Invest in Hard Currency…
I don’t know what though… Something like Soda Crackers?