The Federal Reserve’s fiat credit used to buy the Treasury security from the government historically was identified as redeemable in gold, and then redeemable in lawful money. The rumor is that this never happened. In 1933, by bogus legislation, the credit became identified as a legal tender. By this means, a debt of a private entity became a debt of the residents of the United States. Ref: 31 USC §462. If 462 is found to have been legislated based on fraud, it could be voided at inception and the National Debt is a debt of the Rothschild Federal Reserve.