The Federal Reserve: Illegal???

This could very well be the reason behind the JFK assassination... as Kennedy made an amendment in 1963, a few months before getting killed, BANNING the Federal Reserve and clearly identifying it as an illegitimate instution that exploited the US government and population via the control of currency.

www.apfn.net...

Americans, sorry to say that, but you are being fooled...

Time to wake up and shake the hell out of your government, people... before it throws what's left of your civil rights and liberties away!

The Federal Reserve System is a completely legal authority controlled by the U.S. government. The Chairman and governors of the Federal Reserve Board are appointed by the President and confirmed by the Senate. All of this is accordance with the Federal Reserve Act, a law which supercedes any executive order.

If you want to find out more about the Fed, visit this site www.federalreserve.gov... instead.

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.

[edit on 1/19/2005 by djohnsto77]

here's a big whatever......
"The Federal Reserve Banks are privately owned, locally controlled corporations."
Lewis -v- U.S., 680 F.2d 1239, 1241 (1982)

"From a legal standpoint these banks are private corporations, organized under a special ACT of congress, namley, the Federal Reserve Act. They are not in the stricts sense of the word, 'Governmant banks.' "
William P.G. Harding, Gov of the Federal Reserve Board (1921)

"As we have advised, the Federal Reserve is currently paying the Bureau approximately $23 for each 1,000 notes printed. This does include the cost of printing, paper,ink, labor, ect. Therefore, 10,000 notes of any denomination, including the $100 note would cost the Federal Reseve $230. In addition, the Federal Reserve must secure a pledge of collateral equal to the face value of the notes."
William H. Ferkler, manager Publis Affairs, Dept of Treasury, Bureau of Ingraving & Printing

on and on and on and on and on and on and on...

Damn it..I did it again...posting to a post that probably ha hunfreds more just like it in the SEARCH feature on ATS.....

The Federal Reserve System is a completely legal authority controlled by the U.S. government.

have'nt you read anything from the link I posted??? The Federal Reserve is a PRIVATELY OWNED monopoly. It has no legal status within the US government. It's under the control of the government? yeah right... then just show me the law that subordinates the Federal Reserve to Congress.
Show that sentence in the Constitution that says that it is a

The Constitution says that only Congress has to be responsible for controlling the production of currencies, as the dollar is supposed to be a State-owned currency... a free public service to the American people in other terms. And a right. Giving that responsibility to Federal Reserve has been the biggest and most devastating action of privatisation the US government has ever made.

The Federal reserve may distort the truth in any ways they can with insidious rhetoric, it remains that they are not a government or public institution. Same thing as the IRS... private financial firm that's based... in Switzerland!

The federal reserve system violates the US constitution, yes, Echtelion is correct. The Federal Reserve Act of 1913 pushed through the legislature by Woodrow Wilson was nothing short of treason and a clear violation of the US constitution. Article 1, section 8 of the US Constitution states that Congress shall have the power to coin money and regulate it's value, but the federal reserve act gave this power to a private corporation, the shares of which are not traded publicly, nor is it regulated or mandated by congress. They print money with no backing whatsoever, at no interest, then loans it to the treasury, with interest. They also retain the rights to purchase national debt (which is also illegal) and charge interest for it. The ones chiefly responsible for this are...

www.worldnewsstand.net...
Rothschild Bank of London (Jewish)
Warburg Bank of Hamburg (Jewish)
Rothschild Bank of Berlin (Jewish)
Lehman Brothers of New York (Jewish)
Lazard Brothers of Paris (Jewish)
Kuhn Loeb Bank of New York (Jewish)
Israel Moses Seif Banks of Italy (Jewish)
Goldman, Sachs of New York (Jewish)
Warburg Bank of Amsterdam (Jewish)
Chase Manhattan Bank of New York (Rockefellers Interesting History...)

To put this in layman's terms, your ten dollar bill is not ten dollars, it's a note, or a debt. In actuality, your ten dollars is a ten dollar debt, which you, as a taxpayer, are paying interest on.

A few points of interest...

www.scionofzion.com...
The Federal Reserve was incorporated in 1914 and has been creating a completely unnecessary national debt ever since. In simple terms, the Fed creates money as debt. They create money out of thin air by nothing more than a book entry. Whenever the members of the Fed make any loans, that debt money is our money supply.
The United States went bankrupt in 1938 because of this system. It took the Fed only 25 years to bankrupt the USA. Can you imagine how little time it would take these vultures to bankrupt a developing nation? The American people are paying about $300 billion dollars a year in interest to this phony organization. When you look in the Washington, D.C. phone book, you will not find the Federal Reserve in the Government section as they are a private concern.
The national debt is increased about $1.71 billion dollars every day (as of October 12, 2004) . Have you taken a look at your money? It says "Federal Reserve Note" which means it is an instrument of debt. There is no real money in circulation.

There is no system in place to audit the Federal Reserve, at all. And not only is it illegal by the terms of the US constitution, the US supreme Court has also declared this practice unconstitutional...

www.totse.com...
Although the FED is required to give back most of its PROFITS back to the Treasury Dept., there is NO ORGANIZATION that has the power to AUDIT the FED (not even the Congress or the IRS). This creates a HUGE opportunity for "creative accounting" to hide the profit that ROBS the US Tax Payers Hundreds of Billions of Dollars annually....
According to Article 1, Section 8 of the Constitution, the US Congress has the power to print money (The Congress shall have the power... ...to coin money, regulate the value thereof, and of foreign coin, ...). According to the Supreme Court, the Congress can not transfer its power to other organization like the FED....

From the same source, a good summary as to how the system operates...

www.totse.com...
The US goverment runs a $400 billion deficit annually. To cover this, the US goverment issues bonds which are bought by the FED.
Since the FED has the POWER TO PRINT MONEY, it can buy any amount of the US Government bonds at almost NO COST, save for the expense of printing money (~3 cents/$100).
At this point, the owners of the FED already profit $99.97 for every 3c they invested to print the money. Basically, they exchange something that costs almost nothing to them with the US Government Bonds.
Since the FED can NOT be AUDITTED by the IRS (or even by Congress), most of this profit can go anywhere the FED owners want to. BTW, did I mention that the profit is TAX-FREE?
After buying the bonds, the owner of the FED can either:
1. Keep the bonds, and collect the interest the US Government now OWES them.
2. Sell the bonds to the US Tax Payers or foreigners.
In either case, the FED owners have profitted $99.97 for every 3 cents it invested to print the money. Remember, the FED is a PRIVATELY OWNED corporation, just like the Federal Express. The profit of the FED goes to the FED owners.
The US Government now owes the FED owners the interest on those bonds. Remember that the FED owners DO NOT EARN the bonds. They simply PRINT the money to buy the bonds. In other words, they created money out of thin air, and exchange it for the interest bearing bonds.
In order to pay for the bonds' interest, the US Government taxes the US population.
When a US Citizen holding US Government bonds receives his/her return of investment on the bonds, essentially the money he/she receives is the tax money he/she is paying to the Government.
When the OWNERS of the FED receives the interest on the BONDS they're holding, they are receiving that money for FREE (save the initial 3cent/$100 investment to print the money)! Not only that, the FED owners receive the money TAX FREE.
Under the LAW, the FED is REQUIRED to RETURN its PROFIT back to the US Treasury. However, NEITHER the Congress NOR the IRS have the POWER to AUDIT the FED. The FED has used this obvious loophole to profit via 'creative accounting'.
Consider this: every year, the FED profits by hundreds of billions of dollars by buying US Government Bonds. Yet it only returns ~$20 billion to the US Treasury. The rest of the profit has been spent as "Operational Expenses".
The FED expects us to believe that the FED operational expenses amounts to $100's billion dollars annually!!!
The truth is, those profits were spent as "DIVIDENDS TO SHAREHOLDERS"!!!!

The final blow to the US Currency came in the form of the Emergency Banking Act, designed to 'pull us out' of the Great Depression, all it did in reality was eliminate the last obstacle to the Federal Reserve Company by elimination the need to back their notes. A good explination of the act is here...
www.fourwinds10.com...

Income tax is also illegal, but that's a whole other can of worms. How do they get away with this kind of crap? Ever wonder why the District of Columbia isn't a state? We the people are basically ruled and taxed by a foriegn entity...
home.iae.nl...
Scary stuff...

[edit on 20-1-2005 by twitchy]

With all the stuff going on lately with the Ed and Elaine Brown tax thing, I thought I would give this ancient thread a bump. Our entire monetary system is apparently an illegal house of cards.

The Federal Reserve is no more federal than Federal Express.

djohnsto77... I'm ashamed.

Just three years after signing the Federal Reserve Act into law, Woodrow Wilson, I think, finally realized the full implications of what he had helped create...
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation therefore and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilised world. 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 1916

Well it wasn't an Amendment the President signs Executive Orders, aand Kennedy did sign an EO that made 4 billion in US Treasury Notes, backed by silver. Those notes are still in circulation, althugh collectors grab them fast, they have red ink and say Silver Certificate. Kennedy did say he would do more but started with 4 billion in 1's and 5's I believe. They killed him 10 days after he signed that order, and no more Presidents have ever threatened or moved to make REAL MONEY since.

Now the other point to the OP, the fed Res is NOT illegal, but it is UNLAWFUL. This may be weird to some of you so let em explain.

Illegal means against the Law, basically they passed a Law letting the fed make money so it is NOT againstt he law therefore not illegal.

Unlawful means that it violates the Constitution or Common Law base of our legal system. Like when a law is passed and the Courts say its unconstitutional, that Law was Legal but Unlawful....

So my point is the Fed Res is not Illegal, but certainly unlawful in that it violates the Constitution. Dr. Ron Paul is running for the Rep nomination and said the first thing he would do is get rid of the IRS and go after the FED, so to take this nation back and have REAL MONEY again VOTE RON PAUL!!!

Originally posted by theindependentjournal
Illegal means against the Law, basically they passed a Law letting the fed make money so it is NOT againstt he law therefore not illegal.

Unlawful means that it violates the Constitution or Common Law base of our legal system. Like when a law is passed and the Courts say its unconstitutional, that Law was Legal but Unlawful....

The Constitution is the Supreme Law of the Land. The Federal Reserve system is in violation of the Constitution. They passed a Law that was unconstitutional, therefore making it unlawful.

When a court deems a law unconstitutional, said law is rendered null and void, therefore making it not a law, therefore, cannot be deemed illegal since it is not a law.

The Constitution sets limitations on our Federal Government, not it's people. And the Constitution states in black and white....

The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;

To borrow money on the credit of the United States;

To regulate commerce with foreign nations, and among the several states, and with the Indian tribes;

To establish a uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the United States;

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

To provide for the punishment of counterfeiting the securities and current coin of the United States;
Article 1 Section 8

Nowhere in the Constitution does it say Congress may hand over it's sole authority.

It's a big surprise to me that the Federal Reserve Act of 1913 was not ever challenged in court, so that it may be proven to be unconstitutional.

[edit on 7/14/2007 by Infoholic]

Congress still has the legal authority to mint and print money, yet they choose not too further running up the debt. I wish they'd abolish the Fed and I'd also like to see millions of Americans realize that income taxes are illegal as well.

it's all illegal. Just like the war profiteers from WW2. It's all illegal but won't be addressed by the powers that be...

This true, and its sad. It got me thinking, because I dont' want to go to colorado for a vacation, maybe because I post on this forum, these powers that be will put me on a no fly list.

Sorry, the federal reserve is legal.

Way back in the early 1800's the Supreme Court ruled that the predecessor to the federal reserve, the National Bank, was constitutional. (McCullock v. Maryland) The Supreme Court ruled that when the constitution says Congress can do what is "necessary and proper" to raise armies, regulate interstate commerce, etc. that this meant any means that were legitimate to carry out a legitmate end and not only means that were absolutely necessary to carry out ends. Here, the Federal Reserve was created by Congress to carry out the goal of regulating interstate commerce and financing the military, among other things. Therefore, construing "necessary and proper" as the McCullough court did in the 1800's would allow for the creation of the federal reserve by Congress.

Also, many judges adopt the theory that the Consitution is a living document whose gloss is written and refined when actions become widely accepted over a long period of time. The federal reserve has existed for decades, and will perhaps continue to exist for decades without any serious challenge to its constitutioanlity. Therefore, its existence will become part of the constitution's gloss of what is allowable.