"The Congress shall have Power To coin Money and regulate the Value thereof."
(1.) Why is our money issued by the Federal Reserve Bank and not Congress?
(2.) Is this legal?
by 
Friendo
ANSWERS: 7
-
Good question. I have no idea. :(
-
Our esteemed president can start a war..he doesn't fight it..."we the people" do..he starts the war and our youngsters go and fight and die. So too, Congress doesn't physically "coin Money"..it causes it to be done, like the president causes people to go fight his wars. Happy Monday! :)
-
The Federal Reserve is, without question, unconstitutional. The Constitution was written, primarily, as the result of revolution against the inherent unfairness of central banking, or more simply, taxation without representation. Be it through overt means, or via covert inflation from the actions of a king's bank, the American Revolution happened for Article I, Section 8, Congress shall (which means "must") coin money and regulate its value. "Must" is never subject to delegation or legal interpretation, and certainly not for the sole motive of private profit.
-
The Federal Reserve Act is an unconstitutional piece of legislation passed by Congress in 1913, giving the privately operated "Fed" sole power over printing money. The "Federal Reserve" is a misnomer: it is not federal, nor are there reserves (see G. Edward Griffin's "The Creature from Jekyll Island," p. 1). They print money at will and loan it to smaller banks, who pay it back with interest. Since the Fed creates money out of nothing, it can loan it out at a low interest rate. Banks, therefore, can charge lower interest than usual, which means customers can afford more home, a bigger car, or more of whatever else they're borrowing for. This pumping of dollars into the system (called "inflation") drives prices up, and everyone's dollar is worth less. The Federal Reserve should be abolished, and we should be looking to elect congressmen who understand this.
-
congress created the federal reserve in an act called the federal reserve act, according to wikipedia it was passed in 1913, my history book says 1914, i dont really care about when, but since it was created by congress it therefore has the power to regulate the value of money and, can you imagine congress attempting to try to do such a job, i cant.
-
Does it really matter? The government of the US stopped operating under the cover of law and the Constitution a long, long, long time ago
-
For the same reason the Post Office and Amtrack operate under Congressional oversight. Efficiency isn't always a good thing.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC