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There is no Constitutional grounds for banks to create money. In Montgomery V. Daly (1969) a jury found if favor of Mr. Daly and he was allowed to keep the house the bank was trying to foreclose on. In the Judges opinion on the case he found that the bank had created money out of thin air and that this constitued a breech of contract. It is furthermore stated in the Constitution of these united States that only CONGRESS shall have the power to COIN money and to set the value thereof. Private banks like the Federal Reserve and other private commericial banks are in total violation of the HIGHEST law in the land the Constitution.
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Why did state banks eventually stop issuing their own currency?
The US constitution reserves the creation to currency to the Federal government
What banks exited the TARP program?
US Government TARP ProgramA total of $700,000,000,000 (Billion) of US Government money was taken to give to US private banks. This is a list of the banks that have taken money and ones that have paid it back.http://www.financialstability.gov/latest/index.htmlhttp://www.financialstability.gov/docs/transaction-reports/1-13-10%20Transactions%20Report%20as%20of%201-12-10.pdfhttp://projects.nytimes.com/creditcrisis/recipients/tableThe deadline was extended to October 2010...... Many have not exited yet.
Why banks let us borrow money?
Because when you pay it back you are paying interest, so you pay more than you borrowed, so they profit from it.
One sign that the economy might be weakening in the 1920s was?
One sign that the US economy might be weakening in the 1920's was the failure of the area banks. Along with the banks failures there was an underproduction of goods due to lack of money.
How can the US discontinue private central banks and the fractional reserve banking system?
See the DVD The Money Masters for a return to having control over our money supply, and a way to quickly pay down the national debt.
What are the origins of the current financial crisis?
Poor monitoring by the US of the banks lead to banks loaning money to people that were not able to pay them back. And/or interest rates went up and many were not able to pay and the US banks were not making money. Now the banks don't have as much money to loan to people and no one has money. Most banks in the world are tied into the US banks and so they have less money too. also, tony Blair and George Bush had tea with kim jong il :)
Can foreign money be taken to us banks to trade for us dollars?
Yes - Banks usually have a foreign exchange counter.
Why did the us not have a central bank before 1913?
The U.S. had 2 central banks before 1913 called the Bank of America, but were shut down because they are unconstitutional and rob the people. The Founding Fathers wanted America to print its own money instead of having Foreign private corporations printing our money and charging the country for the money it could create free and clear.
What did president Jackson do with money taken from the bank of the US?
He had the money deposited in various state banks.
Do banks throw away money?
Banks collect old or damaged bills and send them to the US government for destruction.
Where can you change Mexican money into US dollars?
most local banks
Who do the US own the money to?
What is United States money?
Where can you convert US money to Norway kroner?
in the bank.
What place do Parisians keep money?
Banks, just like the rest of us.
How did jacksons policies contribute to the panic of 1837?
They were directly related to the economic panic of 1837 since he destroyed the bank of the US that could easily transfer money between areas that were in flush with cash to areas that were short on cash. Jackson took the money from the Bank of the US and put it in state banks that coincidentally had Jackson on the Board of Directors. These state banks also contributed by printing their own money and increasing inflation.
What banks in the US use money boxes?
Most banks in the United States use money boxes for transporting money inside and outside of their safes. It is the most secure way to transport large sums of money from one bank to another.
When President Jackson did not renew the charter for the Bank of the US the responsibility of money lending fell to?
When President Jackson did not renew the charter for the Bank of the US the government stated putting money in state banks. Money lending fell on these banks and four anti-bank resolutions were approved.
