Is the Federal Reserve unconstitutional

Answer 1

Answer OK - let's keep it simple you say the "Federal Reserve acts as a regulatory agency". But there is no governmental control according to the SUPREME COURT OF THE UNITED STATES No governmental control= UNCONSTITUTIONAL. Lewis v. United States, 680 F.2d 1239 (1982) 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: Congressional Attempts to Control the Fed (quotes courtesy of site linked below - quotes not under copyright) 1937 Rep. Charles G. Binderup of Nebraska 1952 Rep. Wright Patman of Texas ( House Banking Chairman) "In fact there has never been an independent audit of either the twelve banks of the Federal Reserve Board that has been filed with the Congress ... For 40 years the system, while freely using the money of the government, has not made a proper accounting." Patman RE: Federal Open Market Committee "one of the most secret societies. These twelve men decide what happens in the economy ... In making decisions they check with no one -- not the President, not the Congress, not the people." Patman also said: "In the United States we have, in effect, two governments ... We have the duly constituted Government ... Then we have an independent, uncontrolled and uncoordinated government in the Federal Reserve System, operating the money powers which are reserved to Congress by the Constitution." 1971 Rep. John R. Rarick of Louisiana introduced H.R. 351: "To vest in the Government of the United States the full, absolute, complete, and unconditional ownership of the twelve Federal Reserve Banks." He said: "The Federal Reserve is not an agency of government. It is a private banking monopoly." He was later defeated for re-election. 1980's, Rep. Phil Crane of Illinois called for the repeal of the Federal Reserve Act. In 1980 congress passed the Monetary Control Act,it gave the Federal Reserve control of all banking institutions. The majority of the post below was plagiarized from two websites - see links. Answer You know, whenever I hear what I think are just crazy questions like this...one of my first thoughts is: Just for a second...say it was even remotely possible that all those very involved, dedicated people, on all sides of the discussion, knew it was so...why would they keep it hidden...but even more importantly....what do you think... would it take even 5 minutes to correct it and just pass a law, or whatever is needed, allowing it? Maybe less. Then of course...I think your probably so confused that your not asking about anything even related to what you think...I suspect you want to challenge the Constitutionality of an income tax...(which by the way is addressed in the 16th amendment). Not the Federal Reseve..which is defined below and is really just a method for orderly banking and I can't imagine being a Constitutional issue.