CAVEAT EMPTOR!

When words are missing from our vocabulary we miss the concepts those words convey.

Concealment is the act of intentionally or unintentionally not revealing information that should be disclosed and would otherwise affect the terms or creation of a contract.  A concealment can occur through either purposeful misrepresentation or withholding of material facts. Where the information could not have been known by the other party and it is known to be material by the concealing party, the concealment can give grounds for nullifying the contract.

There are three types of concealments which are as follows:

• Active concealment: The non-disclosure by words or actions in a situation where there is a positive duty on the person to disclose something. 

• Fraudulent concealment: The concealment where the person conceals something with the intent to deceive or defraud the other party. 

• Passive concealment: The act of silence in a situation where the person had a duty to speak and disclose relevant information.

 

Active concealment: Defining Seigniorage.

https://www.investopedia.com/terms/s/seigniorage.asp

“Seigniorage is counted as revenue for a government when the money it creates is worth more than it costs to produce. This revenue is often used by governments to finance portions of their expenditures without having to collect taxes. If, for example, it costs the U.S. government 5 cents to produce $1, the seigniorage is 95 cents or the difference between the two amounts. Seigniorage gives a country the potential to turn a profit when it produces money. . . . “

 

Material facts: Knowing the current cost of producing new currency.

 

From the March 1, 2024 Board of Governors of the Federal Reserve System’s website. https://www.federalreserve.gov/faqs/currency_12771.htm

 

”Each year, the Federal Reserve Board projects the likely demand for new currency, and places an order with the Department of the Treasury's Bureau of Engraving and Printing, which produces U.S. currency and charges the Board for the cost of production. . . . ”

 

 

Fraudulent concealment: Taxing the people on the face-value of the Notes produced.

 

The calculations in the chart below are reasonably consistent with the Lackawanna County, Pa 2024 budget that was published in the November 21, 2023 edition of The Times-Tribune Newspaper.

 

https://www.thetimes-tribune.com/news/lackawanna-county-2024-budget-relies-on-higher-property-tax-one-time-revenues/article_e917401d-0d7c-5b12-81c5-c8f9520ade29.html

Passive concealment: Failure to disclose relevant information.
  

The formulas shown in column’s C, D and E work in Excel and Libre Office and may with other programs.

To calculate the proposed costs in your venue, fill the stipulated amount needed in column A 2-8. In D 13 enter the number of people in your venue (https://www.census.gov/popclock/ may be of help).