H.R. 2755: Federal Reserve Board Abolition Act

reply to post by TheRedneck


Good point, Redneck!

The only thing is, we need to refuse it. Because it's an "Amero" doesn't make it any different than the Federal Reserve's dollar, because it's the same company, and founded on the same pretenses as the Dollar. Because the currency changes, doesn't mean the system does. We need to do everything we can to prevent this to coming into play.

reply to post by NeverSurrender


And sacrifice even more of our sovereignty like the Euros. We don't need an international supra-national "central bank," We need a National Bank, like the First National Bank of the US, under the Dept of the Treasury, subject to the President and to Congressional oversight. One of the justifications of the Independent Federal Reserve was to "depoliticize" it. Whenever you hear the world "depoliticize," you are hearing in effect, "While the Constitutional Republican system of government, with elected and appointed officials accountable to the people, might be just fine in theory, in practical application, it does not work because the people are too ignorant to govern themselves." The Federal Reserve is operated of, by and for financial interests and contrary to the general welfare.

In addition to eleimiation of the Federal Reserve, fractional reserve banking myst also be banned. If banks wish to lean more than the funds they have on deposit, let them go to the discount window of the US National Bank, who would issue credit for re-lending in specified areas at interest rates mandated by the national bank, as authorized by Congress. Only Congress has the right to utter currency, including money issued as credit. And Congress has no Constitutional right to delegate this authority to a private entity like the Federal Reserve. Money lent to banks by the National Bank would be made available for upgrading infrastructure, including roads, bridges, power and communication grids, manufacturing, R&D, education and hospitals, agriculture. In short those entities that either directly or indirectly increase and improve output and consumption per capita of the market basket of goods produced by the US economy.

In conjunction with this, an international convention like Breton Woods, with fixed rates of exchange among the world's major currencies would cut off currency speculation at the knees. George Soros and his ilk might not like it, but we dont' care about them, do we?

For those that are concerned about the Amero:
www.snopes.com...

Although the Amero does exist, as Snopes states, it is minted by a private company, to be sold as a collectible. As Snopes points out in the above link, it has no connection to the US government at all. For those that are worried, I suggest you read the entire link article. I cannot copy any portion of the Snopes article here, due to their copyright stipulations.

reply to post by DeadFlagBlues
The only way to refuse it is to do so early on, and consistently, regardless of what our leaders promise us about this Amero. Because once it is adopted as the official currency, we are helpless.

And according to my good friend Prof below, it is being minted by a private company, so yes, that would make it no different from a Federal Reserve note. Money should be under the strict control of the government using it, not delegated to some private firm.

edit: I replied in a hurry, so I failed to notice you had said the same thing as Prof. My apologies, my friend, for missing that.

TheRedneck


[edit on 27-9-2008 by TheRedneck]

shameless bump. The federal reserve needs to be SHUT DOWN

Kennedy had a good idea but they killed him.

Originally posted by rakeswapper
Why would people owe the government money if this was passed?

Why should the Fed still get paid if it is clear that they have been profitting from a scam?

I see no problem with zeroing personal debt.

It would be a wash. Congress has specified that a Federal Reserve Bank
must hold collateral equal in value to the Federal Reserve notes that the Bank receives.
This collateral is chiefly gold certificates and United States securities . The idea was that if
the Congress dissolved the Federal Reserve System the United States
would take over the notes (liabilities). This would meet the requirements of Section
411, but the government would also take over the assets, which would be of equal
value. Federal Reserve notes represent a first lien on all the assets of the Federal
Reserve Banks, and on the collateral specifically held against them. It would be a win win for America. There are however two HUGE problems. The first being, Congress will never allow this to happen. The FRB is their magic piggy bank. They do not have to directly raise taxes. Of course we catch it on the back end through devaluation of the dollar. The second issue is do we actually have any gold reserves ? Here is a current example given to me directly from the FRB. Our government wants to borrow $42.00 from the FRB. They say fine, and tell the BEP to print two $20.00 dollar bills and two $1.00 dollar bills. They then credit the BEP 0.28 cents ( 0.7 ) per note. The Fed lends the $42.00 to the US GOV. We give the FRB a gold certificate for one oz of pure gold from our gold reserves as collateral. (The price of gold was pegged at $42.00 for all our gold reserves regardless of the spot price) The FRB now is the legal owner of that one oz of gold and may choose to remove it from deep storage if they wish. The big question is have they taken that position ? The last request to audit the entire reserve was rejected. The upfront screw job is obvious. The FRB has invested 0.28 cents for a net gain on the spot price of one oz of gold minus 0.28 cents. Todays price is $877.00
What type of numbers can be imagined when the Gov. borrows 200 Billion ?

This one is long overdue. Placing 300 families out on the curb on their ear would be worthwhile and a huge laugh for 330 million Americans.

Let us not stop with just the Federal Reserve. Let's take the collection arm of that organization out as well (The Infernal Revenue Service).

This bill needs to pass. Please write your representatives and tell them to pass this bill. Now is the perfect time, congress actually stood up to the fed and said no to the bailout. We have more momentum now than ever before to push something like this ahead.

We need more direction to get backing for HR 2755. Everyone in favor should have a "to do" list...what now?

Originally posted by DeadFlagBlues
I wonder what the implications would be to have only state banks. Balancing gold, silver, and other hard assets around from state to state, creating a bunch of national competing monies. If you had states balancing their checkbook every month, and exchanging hard money as it stands, there would need to be any adjusting currency rates and printing off ghost bills.

Not really...The Constitution (& therefore, We the People who ordained & established the Constitution) gave to Congress the Power to "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;" (Article1, Section 8, Clause 5) & to "To provide for the Punishment of counterfeiting the Securities and current Coin of the United States" (Article 1, Section 8, Clause 6). Therefore, the States don't need to figure relative exchange rates...Congress would merely need to "fix the Standard," uniform among all States.

Also, since the Federal Reserve Act of 1913 is in violation of the law by giving over a Power of Congress to a foreign controlled, privately-owned cartel of bankers, that means that Congress itself violated its own duty to the Constitution (& the People!)...Since Congress has not been given any Powers to violate the law, even by legislation, then the Federal Reserve Act itself was not valid in the first place. The only way it could have possibly been made valid would be as an actual Amendment to the Constitution, but no office or branch of the government is allowed to act in direct opposition to the Constitution itself either.

Since the Emergency Banking Relief Act of 1933, the government has also further violated the Constitution by allowing the Federal Reserve Bank to achieve a total monopoly on the use of Federal Reserve Notes as currency...In which case, Congress gave up on the "Punishment of counterfeiting" & also violated Article 1, Section 10 Clause 1 by forcing the States to adopt the use of FRN's! After all, that particular Clause includes specifically, "No State shall...make any Thing but gold and silver Coin a Tender in Payment of Debts;"

So if the Federal Reserve Bank is, by strict definition of the Law, nothing less that an illegal counterfeiting, loan-sharking organization, then is any debt owed to the Fed Res even a legal debt? If the Federal Reserve Act & the Emergency Banking Relief Act were never legally valid as legislation in the first place, doesn't that mean that the whole of the federal deficit is invalid? Even by the Uniform Commercial Code, under the sections on Remedy & Recourse (UCC 1-203 & UCC 1-207), doesn't that mean that the whole of the Federal Reserve Board should be arrested & tried? Doesn't that also mean that they must also provide just recompense for all of the wealth they've literally stolen/conned from the People & the Nation?

No, I don't believe that repealing the consequences of those two illegal Acts is a matter of question: The act of Repealing something means that it must have been valid to begin with, which is not the case here...Even the UCC says that any contract entered under fraudulent terms is automatically voided right back to the moment of inception...Which means that such "contracts" were never valid. I'd say it's less a matter of throwing more legislation around than it is more of a matter of enforcing the Law (including JFK's EO 1110) & bringing the lawbreakers to Justice, followed by restoration of asset-backed (gold/silver) currency instead of continuing to allow a nation-wide (& world-wide!) fraud.

Originally posted by Equinox99
The bill will most likely be killed off. If it does pass then the people will owe the government money, and I wouldn't be surprised if it was with the interest.

Actually, the reverse is true...The Government owes the People lots of money. Everything they've ever borrowed from those criminal banksters was based upon the credit standing of the People! Our "taxes" go directly for making payments on the mere interest charged on the deficit! The federal deficit is not what the People owe to the government...It's what the government owes to the People! It's way past time for some serious payback, I think...

There's no one from the generation (during the timeframe of 1913 to 1933, when the Fed Res was illegally established until they engineered the first Great Depression) alive today to teach us "newbies" how it happened. That's why it's happening again...They think that we've "forgotten" our own history. Even though the wide-spread cry of "Never Again" was declared after Hitler's Holocaust, we can see in our own very recent history how it is happening again...America is on the verge of repeating the history of Hitler & it takes blindness, through ignorance or denial, to fail seeing it.

Originally posted by TheRedneck
It is technically illegal to not accept Federal Reserve Notes as payment within the United States of America.

Well, that's true, but part of my point earlier is that Congress (nor any other part of the government, or the government in whole) ever had the legal authority to pass that legislation at all...The legislation itself is voided by Law, because the legislation itself was based upon a fraud. That's why I've referred to FRN's as being counterfeits of money. I think a more accurate (& oft-used) term (well, oft-used by me, anyway) for FRN's would be "corporate scrip" because it's issued by a corporation...And therefore, automatically illegal by Constitutional Law for use as "legal tender."

Originally posted by Anonymous ATS
The FRB now is the legal owner of that one oz of gold and may choose to remove it from deep storage if they wish. The big question is have they taken that position ?

They did...With the Emergency Banking Relief Act of 1933: I really don't have any factual evidence to determine whether or not the Treasury actually has anything in reserve today...They may have gotten something by now, but I don't think so because (for example) the Social Security Fund has nothing but Congressional IOU's in it.

The Treasury didn't have enough gold assets to completely cover the federal deficit at the time & that's why all of the current deficit is backed by the credit of the People now. It works, in a nutshell, like this: When a new infant is born, somebody on the hospital staff shoves a bunch of paperwork at the parents, saying that they "have to fill this out." Some of that paperwork is for the registration of a live birth...Had the parents simply recorded & filed the live birth with the Hall of Records (in the County of birth), then that bypasses the registration process (all done legally...The registration itself is a form of "contract" with the government).

When registered the Birth Certificate passes through the Department of Health & Vital Statistics to complete the registration with the federal government, then gets bundled with others & gets shipped to the Bureau of Commerce! From there, that's how the government "justifies" making the general public "obligated" to the federal deficit. This is also what gives those "child protection agencies" any kind of "semi-legal" authority to whisk away our children if they have any reason whatsoever...There have been some cases where, children taken away at first have been returned to the parents, simply because the child was recorded & filed instead of registered!

However, the whole registration process violates several UCC clauses, as well as the Constitution's clauses against "indentured servitude!" Are the parents provided with Full Disclosure of all terms & conditions? Is it duly represented by legal counsel when presented to the parents, instead of uninformed hospital staff that cannot properly present such "contracts?" Doesn't this constitute Constructive Fraud!!??

Originally posted by FiatLux
As for my rep., I think his days of representing this district is about over. And many people out there should do the same, get rid of the whole bunch, and start new.

The Kick Them All Out Project