> “no private entity can claim monetary power, which is inherent to the sovereignty of nations” From a legal perspective, there are three things that create mo

> “no private entity can claim monetary power, which is inherent to the sovereignty of nations” From a legal perspective, there are three things that create monetary power. 1. The money created by the monetary power can be used to settle tax liabilities. Currently no currency except Federal Reserve Notes can be used to settle U.S tax liabilities. 2. The money created by the monetary power is not subject to capital gains tax when it is transferred. Currently, everything that pretends to be money is actually considered property and thus subject to capital gains tax on every single transaction. The tax is measured in its value in money. 3. The monetary power has the power to destroy money's value. In United States v. Kahre, a guy in Nevada was paying people in gold coins that were issued by the U.S government and circulated in daily commerce in the 1900s as legal tender. He used the face value of the coins stamped on them to report and pay his income taxes. The IRS said to him that those coins aren't money any more, even though they were at some point. A 15 year criminal conviction resulted. By virtue of the taxing authority of governments, only the government has a right to monetary power. In fact, without tax authorities, the monetary power wouldn't exist.