Actually frns = bitcons..
almost all frns are not paper (cash) ....
they are just data entries in a computer spreadsheet.
We are not FORCED to accept bitcons ...
We are COMPELLED to accept frns.
frn = non federal non reserve non note
The fed is a private central bank, you will not find it in the phone book
under government agencies. No more federal the fed ex.
It has no reserves ...
It's notes do not specify the terms of redemption, hence are NOT notes.