0
Why do some people say the Federal Reserve is against Constitutional Law?
PaulaGem
The simple answer is that CONGRESS has delegated the authority to print money to a PRIVATE institution. CONGRESS is supposed to be answerable to the voters, but since the FED controls the money they now control CONGRESS. Here's a quote from the SUPREME COURT OF THE UNITED STATES the court ruled that the Federal Reserve Banks are "independent, privately owned and locally controlled corporations", and there is not sufficient "federal government control over 'detailed physical performance' and 'day to day operation'" of the Federal Reserve Bank for it to be considered a federal agency: Lewis v. United States, 680 F.2d 1239 (1982) See the references below -
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What is the backing for Federal Reserve Notes?
Nothing tangible. Federal Reserve Notes in the United States are fiat money, backed by the people's faith in the issuing Federal Reserve bank.
How can people get on the federal reserve board?
by getting an interview
How does the federal reserve chairman become apppointed?
The small group of elite banks that is the federal reserve gives the President of the United States of America a list of pre-"authorized" people from which to choose the Federal Reserve Chairman.
What does federal reserve do with money they make?
The federal reserve us there money like every body else. Like using for there family some people just storing it in there bank.
What President created the Federal Reserve system?
President Woodrow Wilson signed the Federal Reserve Act into law in 1913; however, it's inaccurate to say Wilson "created" the Federal Reserve system. The bill was sponsored by Senators Carter Glass and Robert Owen, based on a bill originally introduced in 1908 by Nelson Aldridge, and was a compromise measure between Republicans, who favored the Federal Reserve and Democrats who opposed Wall Street's involvement in its operation. The Federal Reserve become operational in 1915.
When was the federal reserve system founded?
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.
How many employees are in the Federal Reserve System?
I just heard that there are 20,000 employees in the Federal Reserve system! That is insane!! No wonder why we are 14 trillion in debt, with this many people employed in a quasi-governmental body!!
What are 3 areas that some people want passage of constitutional amendments?
Anchor babies and immigration (restructure the 14th amendment), term limits (politicians were never supposed to be career politicians), balanced federal budget, further protections against federal tyranny
Who was the most important people from Alabama that were affected in the great depression?
president herbert hoover federal reserve
The US government borrowed more than 24 billion from the American people through?
the federal reserve banks
Who owns the federal reserve bank in the US?
AnswerThe Federal Reserve Bank in the USA is a privately owned cartel: it is not a Government agency."Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders."- The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s"Most Americans are content with believing that the Federal Reserve is just another stuffy government agency that sets our interest rates and that is watching out for the best interests of the American people. But that is not the case at all. The truth is that the Federal Reserve is a private banking cartel that has been designed to systematically destroy the value of our currency, drain the wealth of the American public and enslave the federal government to perpetually expanding debt. ...#1 The Federal Reserve System Is A Privately Owned Banking CartelThe Federal Reserve is not a government agency.The truth is that it is a privately owned central bank. It is owned by the banks that are members of the Federal Reserve system. We do not know how much of the system each bank owns, because that has never been disclosed to the American people.The Federal Reserve openly admits that it is privately owned. When it was defending itself against a Bloomberg request for information under the Freedom of Information Act, the Federal Reserve stated unequivocally in court that it was "not an agency" of the federal government and therefore not subject to the Freedom of Information Act....[All above quotes taken From "10 Things That Every American Should Know About The Federal Reserve" at http://theeconomiccollapseblog.com/archives/10-things-that-every-american-should-know-about-the-federal-reserve]Who owns the Federal Reserve?The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects. As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.......[Above quote From "Federal Reserve Education Fed Basics" at http://www.federalreserveeducation.org/faq/topics/fed_basics.cfm ]
Which of the following best describes how the federal reserve bank keeps banks during a bank run?
The Federal Reserve Bank can provide a short-term loan to banks to prevent them from running out of money. beeeyotch
