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Yes it is. See, when Woodrow Wilson was running for presidency, the international bankers at the time such as the Rothchilds, Warburgs and Rockefellers wrote the Federal Reserve Act on a estate in Jekyll Island owned my J.P. Morgan and was given to the Senator Nelson Aldrich(who soon married into the Rockefellers) to push through congress and all they needed was the presidents okay on it. Fortunately for them Wilson wanted to become president if he agreed to sign it because he would have their full support and unlimited funds, he knew he would win the presidency. However, Federal Reserve Notes are completely unconstitutional, illegal and fraudulent. In Article 1, Section 10 of The United States Constitution, it clearly states that, "No state shall make anything but gold and silver coin a tender in payments of debts." And in Article 1, Section 8 it states, "Congress shall have power to coin money" Notice it says "coin" not "print" The reasoning behind this law is because when money is printed from paper and has no gold or silver, more of it can be printed to create inflation which causes loss of jobs which causes foreclosures which gives money to the banks which gives money to the Federal Reserve. Oh, and to top things off, the Federal Reserve is about as Federal as FedEx. It, in no way, is apart of the US Government. It is it's own company with it's own rules and laws and the IRS is it's own personal army to collect the money and audit people who go against them. IRS isn't even apart of the US Government. They work for the FED. When all was said and done, Woodrow Wilson, the man who signed it for his own personal gain said this, "I am a most unhappy man, I have unwittingly ruined my country. A great industrial nation is now controlled by it's system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men." - Woodrow Wilson

To learn more about this watch the documentary Zeitgeist or just type in Federal Reserve Fraud in Google and do the research. There is WAY more things that are illegal and fraudulent about the Federal Reserve.

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โˆ™ 2009-08-28 21:16:16
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Q: Is the federal reserve act of 1913 a fraud?
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Related questions

What law established the Federal Reserve?

The Federal Reserve Act of 1913


When and how was the Federal Reserve created?

The Federal Reserve was created in 1913 when Congress passed the Federal Reserve Act.


Who signed the Federal Reserve Act?

President Woodrow Wilson signed the Federal Reserve Act into law in 1913.


When was Federal Reserve act passed?

1913


What did the federal reserve act signed by president Woodrow Wilson in 1913 establish?

The Federal Reserve.


When did congress pass the federal reserve act?

1913


In what year was the federal Reserve act passed?

1913


Is the federal reserve a government agency?

The Federal Reserve is an independent entity within the U.S. Government. It was established under The Federal Reserve Act of 1913.


Who started the federal reserve?

Congress created the Federal Reserve in 1913. The Act was signed into law by President Woodrow Wilson.


What is a federal reserve bond?

That would be an illegal issuance of debt by the US Federal Reserve, which is not authorized to do so by the Federal Reserve Act of 1913 or any subsequent legislation.


When was the Federal Reserve system established?

President Woodrow Wilson signed the Federal Reserve Act into law on December 23, 1913; the Federal Reserve became operational in 1915.


When was the federal reserve system founded?

In 1913 by an act of the US Congress and signed into law by US President Woodrow Wilson.


What year was the Federal Reserve system created?

President Woodrow Wilson signed the Federal Reserve Act into law on December 23, 1913; the Federal Reserve became operational in 1915.


What did the Federal Reserve Act signed into law in 1913 by President Woodrow Wilson accomplish?

Created the Fed as an independent institution


The Federal Reserve Act of 1913 created a?

Three-tiered banking system


Who was the US President during the federal reserve act of 1913?

Woodrow Wilson


What was the 1913 law that created rules for national banks?

Federal reserve act


What day of what year was the Federal Reserve Act approved by US Congress?

The Federal Reserve Act was Approved and Signed into Law on Dec. 23, 1913.See WikiPedia Article on Federal Reserve ACT:http://en.wikipedia.org/wiki/Federal_Reserve_Act


What was the federal reserve system established by?

The Federal Reserve was created by act of Congress in 1913, railroaded through in a fashion very similar to the stimulus bill.


Who was the president in the Federal Reserve Act?

The Federal Reserve is the central banking system of the United States. It was created in the year 1913. Ben Bernanke is the chairman of the Federal Reserve. He has been the chairman since 2006. Before him, Alan Greenspan was the chairman of the federal reserve.


What was the singular achievement of the Federal Reserve Act?

Establishing the Federal Reserve was the singular achievement of the Federal Reserve Act.


When was the Federal Reserve Act signed?

To promote the development of a sound economy and a reliable banking system, Congress passed, and President Woodrow Wilson signed, the Federal Reserve Act on December 23, 1913.


What did The Federal Reserve Act of 1913 create?

The Federal Reserve Act of 1913 is an Act of Congress and signed into law by US President Woodrow Wilson. The Federal Reserve System's original purposes were to give the country an elastic currency, to provide facilities for discounting commercial paper and to improve the supervision of banking. It was recognized, however, that the System would be given broader powers in the future.


What banking reform finally gave the nation a flexible money supply?

Federal Reserve Act of 1913.


The Federal Reserve Act of 1913 guaranteed a substantial measure of public control over the American banking system through the final authority given to the whom?

Federal Reserve Board