THE NEW “REDEMPTION PROCESS”
The United States government issues lots of securities and the job of Treasury is to sell those securities and pay them at maturity. Often, Treasury conducts auctions to sell various securities as explained here. In the past, there were actual bonds that would be sold, however today, these bonds have been replaced with bookkeeping entries.
A Treasury Direct Account (“TDA”) is simply an account a company or private party opens at the Treasury to buy and sell securities held in that account. That account is simply the vehicle by which various Treasury securities are held, as explained by 31 C.F.R., part 363:
§ 363.0 What is the TreasuryDirect system?
The TreasuryDirect system (TreasuryDirect) is an online account system in which you may hold and conduct transactions in eligible bookentry Treasury securities.
§ 363.10 What is a TreasuryDirect account?
A TreasuryDirect account is an online account maintained by us solely in your name in which you may hold and conduct transactions in eligible bookentry Treasury securities.
§ 363.11 Who is eligible to open a TreasuryDirect account?
Only an individual or an entity is eligible to open a TreasuryDirect account. In order to open a TreasuryDirect account, an individual or entity account manager must have a valid social security number (SSN), be 18 years of age or over, and be legally competent. An entity must have a valid SSN or employer identification number. The account owner must have a United States address of record and have an account at a United States depository financial institution that will accept debits and credits using the Automated Clearing House method of payment.
Here, this part in 31 CFR is linked, and various sections thereof are highlighted in yellow for your convenience. No American has an account like this unless he actually opens it, and then buys some securities. And of course, an account owner may sell those securities back to Treasury or another party.
From 1999 through 2002, Roger Elvick, Dave DeReimer and Jean Keating developed and promoted the “redemption process.” Simply stated, they asserted that as a result of the enactment of the 1935 Social Security Act, an account was established for every American into which large amounts of funds were deposited. This account was allegedly the TDA. To gain access to these funds, one needed to engage in “redemption,” a process whereby, using UCC procedures, the “strawman” (that fake “names in CAPS” dude) was “captured.” After having captured the “strawman”, one could gain access to the funds in the TDA simply by writing checks drawn on the US Treasury.
As a result of the promotion of this “process,” lots of people started writing checks, payable by the US Treasury, to purchase homes, cars, boats, and many other items. But by 2002, lots of indictments were flying, charging violations of 18 U.S.C. §514. A more detailed discussion of this process and these events is posted here. Frankly, it is crazy to write a hot check drawn on the US Treasury.
Now, Harvey Dent, “Fake Judge” Anna von Reitz, and Heather Ann Tucci-Jarraf are resurrecting this old and baseless argument, with minor changes. Now, rather than going through the “redemption process”, a follower of this contention merely needs to write hot checks with various and ever-changing ideas about the check routing numbers. They claim that every American has a TDA in which large amounts of funds are on deposit or soon to be deposited. This is a false claim. And if you write some check to pay others to whom you are indebted, there is the very real possibility that you can be charged with writing bad checks.
I am not happy, but sad that there are liars and scammers roaming around, taking advantage of the gullible.
You are Warned!!!
Correction to a misstatement in Larry’s feedback above: Now Anna von Reitz IS NOT resurrecting this old and baseless argument with minor changes, AS HAS BEEN EVIDENCED IN HER OWN WORDS / ARTICLES / POSTS QUOTED ONLINE !
EXACTLY 100% REVERSE AND CONTRARY – SHE HAS BEEN ESPECIALLY ADVISING AND WARNING AGAINST AMERICANS [VS STATUTORY U.S. CITIZENS] USING THIS “NEW” TDA PROCESS, AND ESPECIALLY – WITHOUT DUE AUTHORIZATION !