What if I told you that every time you spend a dollar you are doing something unconstitutional? That the so called legal tender probably in your pocket right now is part of the greatest theft in human history, that our national central bank, The Federal Reserve is unconstitutional? You would probably call me a conspiracy theorist or a crazy person. How can our central bank be unconstitutional? How could we all be so blind to it if it was? In this article, I am going to prove that the Federal Reserve is unconstitutional using government sources of information.
First, I feel the need to define the Federal Reserve Bank. It is a privately owned corporation, with the unique power to coin, print and monetate the U.S. dollar. The part of that definition that is unconstitutional is the fact that the Federal Reserve is privately owned and controlled by private stockholders. A privately owned bank is unconstitutional because only Congress is supposed to have the power to directly control the dollar. Section 8 of the constitution of the United States of America states, “Congress Shall have power to [numerous powers]…To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”. No where else does the constitution grant similar or the same powers. On top of that, the 10th Amendment states, “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.” With these two combined, a privately owned bank that controls U.S. currency like the Federal Reserve is unconstitutional because the Federal Reserve is not controlled by congress nor does the constitution grant those powers to any other body.
Now that we’ve established that a privately owned Central Bank is unconstitutional, I must prove that the Federal Reserve is Privately owned. First, I will admit that there is a group called the Board of Governors who are appointed by the president and okayed by the Senate. Although they are supposed to oversee the Federal Reserve they are not in control of anything. The Federal Reserve Act states, “No member of the Board of Governors of the Federal Reserve System shall be an officer or director of any bank, banking institution, trust company, or Federal Reserve bank or hold stock in any bank, banking institution, or trust company.” This prevents the Board of Governors from meaning anything. However, the Board of Governors have to approve new stockholders, but at the time this bank was created they did not approve anything and so this becomes meaningless since the Board is most likely controlled by the already established feds through bribes anyway.
To make matters worse, only banks can become stockholders, the Federal Reserve Act states, “Any bank incorporated by special law of any State, operating under the Code of Law for the District of Columbia, or organized under the general laws of any State or of the United States, including Morris Plan banks and other incorporated banking institutions engaged in similar business, desiring to become a member of the Federal Reserve System, may make application to the Board of Governors of the Federal Reserve System, under such rules and regulations as it may prescribe, for the right to subscribe to the stock of the Federal reserve bank organized within the district in which the applying bank is located. Such application shall be for the same amount of stock that the applying bank would be required to subscribe to as a national bank.
For the purposes of membership of any such bank the terms “capital” and “capital stock” shall include the amount of outstanding capital notes and debentures legally issued by the applying bank and purchased by the Reconstruction Finance Corporation. The Board of Governors of the Federal Reserve System, subject to the provisions of this Act and to such conditions as it may prescribe pursuant thereto, may permit the applying bank to become a stockholder of such Federal reserve bank.” This proves that the Federal Reserve is privately owned by other banks and therefore those bank owners. The fact that the Federal Reserve is Private and has congress’s exclusive power, makes the bank unconstitutional.
Link to the official Federal Reserve Act: https://www.federalreserve.gov/aboutthefed/fract.htm