No do the “ nobody owns their properties because they paid (using the term paid loosely here) with promissory notes. You can’t use debt to “pay” debt. Yes we are all using debt in the form of promises to pay (promissory notes aka Federal Reserve Notes) other debts. Only minted silver and gold coin in exact amounts qualify as money in the constitution. I bet you’re thinking, awe, but FRNs are legal tender. I would argue that the term legal, as used in the previous sentence, is not what you think it means.