(NaturalNews) Jerome Daly is one of the few men to take on the might of the Federal Reserve in the courts and win. 40 years ago, a Minnesota bank attempted to foreclose on Daly's mortgage, but he humiliated them, thanks to his profound knowledge of Fractional Reserve Banking and a courageous, scrupulously honest judge.

The bank then appealed, as was their right to do so; but a lawful appeal must be made within 10 days and accompanied by a fee of $2.

When the Notice of Appeal and the $2 fee arrived on Justice Mahoney’s desk for him to make his return to the District Court the judge made a second landmark decision. After examining the two $1 bills he saw that they were Federal Reserve Notes. Justice Mahoney refused the notes and refused to allow the Appeal upon the grounds that the notes were without any lawful consideration and void for any purpose.

Justice Mahoney would not accept the Federal Reserve notes to pay for the Appeal process because they were not true money but represented instruments of debt. If the bank had paid in silver dollars, half-dollars, quarters, dimes, nickels, or even pennies, then the appeal would have been legitimate and would have been heard.

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