Diving into the U.S. Statutes that make juro possible

Juro-friendly Federal laws, State laws, and Definitions used by the government.

Federal Statutes

All of the series of juro Digital Money fall within the treatment and definition of “money”, “cash”, “funds”, and “money’s worth” in Title 31 of the US Code as well as in Title 11 of the US Code.

Furthermore, the series of the juro United States Dollar (§$) is the same as U.S. currency for tax purposes in accordance to Title 26 of the US Code.

All other series of juro Digital Money are classified as the same as the respective sovereign currency they form a part of the money supply or, in the case of the commodity series of juro Digital Money, they are classified at the fair market value of the respective commodity which they are backed by, for tax purposes.

Relevant U.S. Treasury Department Glossary Terms

Fund(s).

Fund has more than one meaning. Depending on the context it may mean merely a resource as in funds available to pay an obligation. Or, for budgetary accounting, it may mean Federal funds or “trust funds,” the two major groups of funds in the budget. The Federal funds include all transactions not classified by law as being in trust funds.

Nominal Dollar.

The dollar value assigned to a good or service in terms of prices current at the time of the good or service is required. This contrasts with the value assigned to a good or service measured in constant dollars.

Fund(s).

Fund has more than one meaning. Depending on the context it may mean merely a resource as in funds available to pay an obligation. Or, for budgetary accounting, it may mean Federal funds or “trust funds,” the two major groups of funds in the budget. The Federal funds include all transactions not classified by law as being in trust funds.

Outlay.

The issuance of checks, disbursement of cash, or electronic transfer of funds made to liquidate a Federal obligation. Outlays also occur when interest on the Treasury debt held by the public accrues and when the Government issues bonds, notes, debentures, monetary credits, or other cash-equivalent instruments in order to liquidate obligations. Also, under credit reform, the credit subsidy cost is recorded as an outlay when a direct or guaranteed loan is disbursed. (GAO Budget Glossary).

Relevant U.S. Government Accountability Office Glossary Terms

Cash or Cash Equivalent Basis.

The basis whereby receipts are recorded when received and expenditures are recorded when paid, without regard to the accounting period in which the receipts are earned or the costs are incurred. “Cash” generally refers to payment by cash, checks, or electronic funds transfers. “Cash equivalent” refers to the use of an instrument or process that creates a substitute for cash. For example, when the government issues a debt instrument of any kind in satisfaction of claims, the transaction is recorded as simultaneous outlays and borrowing—the outlays when the debt instrument is issued, not when it is redeemed.

Obligations Basis.

The basis whereby financial transactions involving the use of funds are recorded in the accounts primarily when goods and services are ordered, regardless of when the resources acquired are to be received or consumed or when cash is received or paid.

Capital.

Capital has different meanings depending on the context in which it is used. Physical capital is land and the stock of products set aside to support future production and consumption. In the National Income and Product Accounts, private capital consists of business inventories, producers’ durable equipment, and residential and nonresidential structures. (See National Income and Product Accounts.) Financial capital is funds raised by governments, individuals, or businesses by incurring liabilities such as bonds, mortgages, or stock certificates. Human capital is the education, training, work experience, and other attributes that enhance the ability of the labor force to produce goods and services.

Chained Dollars (Economics Term).

Dollar values calculated by taking the current dollar level of a series in the base period (or period from which the weights for a measurement series are derived) and multiplying it by the change in the chain quantity index number for the series (calculated using chained weights) since the base period. Chained-dollar estimates correctly show growth rates for a series, but the summed components do not equal the aggregate in periods other than the period from which the weights for a measurement series are derived. (See also Chain Price Indexes; Real Dollar) .

Debt Service.

Payment of interest on, and repayment of principal on, borrowed funds. The term may also be used to refer to payment of interest alone. (See also Means of Financing.) As used in the Congressional Budget Office’s (CBO) Budget and Economic Outlook, debt service refers to a change in interest payments resulting from a change in estimates of the surplus or the deficit.

Disbursements.

Amounts paid by federal agencies, by cash or cash equivalent, during the fiscal year to liquidate government obligations. “Disbursement” is used interchangeably with the term “outlay.” In budgetary usage, gross disbursements represent the amount of checks issued and cash or other payments made, less refunds received. Net disbursements represent gross disbursements less income collected and credited to the appropriation or fund account, such as amounts received for goods and services provided. (See also Outlay; Expenditure).

Money Supply (Economics Term).

Anything that is generally accepted in payment for goods and services or in the repayment of debt. Narrow definitions of the money supply include currency and checking accounts, while broader definitions include other types of assets, such as savings deposits and money market mutual funds.

Outlay.

The issuance of checks, disbursement of cash, or electronic transfer of funds made to liquidate a federal obligation. Outlays also occur when interest on the Treasury debt held by the public accrues and when the government issues bonds, notes, debentures, monetary credits, or other cash-equivalent instruments in order to liquidate obligations.

Seigniorage.

The difference between the face value of minted circulating coins and the cost of their production, including the cost of metal used in the minting and the cost of transporting the coins to Federal Reserve Banks for distribution to the public.

Seigniorage reflects an increase in the value of government assets when coinage metal is converted to a coin whose face value is higher than the cost of the metal. Seigniorage arises from the government’s exercise of its monetary powers. In contrast to receipts from the public, seigniorage involves no corresponding payment by another party.

For budget reporting purposes, seigniorage is excluded from receipts and treated as a means of financing a deficit—other than borrowing from the public—or as a supplementary amount that can be applied to reduce debt or to increase the Treasury’s cash. The budget includes an estimate of receipts (offsetting collections) equal to the cost of manufacturing and distributing circulating coins, including a charge for capital. (See also Means of Financing).

Unliquidated Obligations.

The amount of outstanding obligations or liabilities. (See also Obligation; Undelivered Orders).

Expenditure.

The actual spending of money; an outlay.

Juro Founder. An international lawyer, trustee, banker, technologist, venture capitalist, and venture philanthropist. When not designing bespoke investment banking products or creating a solution to a seemingly impossible problem, he spends time with his family, practices mindfulness, travels, does pro bono work, and he is a foodie.

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