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Thread: House committee subpoenas Federal Reserve

  1. #11
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    Re: House committee subpoenas Federal Reserve

    Quote Originally Posted by Liz Peeps View Post
    Yes i hope you have found this to be enlightening.
    I can honestly say that I learned something.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

  2. #12
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    Re: House committee subpoenas Federal Reserve

    Quote Originally Posted by RightinNYC View Post
    I can honestly say that I learned something.
    Im sorry i thought you were playing the game with me where you get to be intentionally obtuse and waste time and i get to be sarcastic in response to your obtuseness.

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    Re: House committee subpoenas Federal Reserve

    To go back to your questions, at least the examples you brought up serve under a branch of government.

  4. #14
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    Re: House committee subpoenas Federal Reserve

    Quote Originally Posted by Liz Peeps View Post
    To go back to your questions, at least the examples you brought up serve under a branch of government.
    Right, and no branch of government has any control over the Fed.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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    Re: House committee subpoenas Federal Reserve

    Quote Originally Posted by RightinNYC View Post
    Right, and no branch of government has any control over the Fed.
    oh! there you go being obtuse again! look at him go!

    So which branch of government has control over the Fed, NYC?

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    Re: House committee subpoenas Federal Reserve

    Quote Originally Posted by Liz Peeps View Post
    oh! there you go being obtuse again! look at him go!

    So which branch of government has control over the Fed, NYC?
    The president has control over the majority of the FOMC, while Congress has absolute control over the very existence of the Fed.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

  7. #17
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    Re: House committee subpoenas Federal Reserve

    Quote Originally Posted by Ethereal View Post
    1. The authority to create money is limited specifically to the Congress, not an extra-governmental institution created by the Congress.
    No, the power to coin money is limited to Congress.

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    Re: House committee subpoenas Federal Reserve

    Quote Originally Posted by RightinNYC View Post
    Congress is also given the authority to lay and collect taxes. Does that mean that the creation of the IRS to handle that process is unconstitutional?

    Congress is also given the authority to regulate commerce with the Indian tribes. Does that mean that the BIA is unconstitutional?

    Congress is also given the authority to regulate patents. Does that mean that the Patent Office is unconstitutional?

    Congress is also given the authority to make rules for the regulation of the military. Does that mean that the DoD is illegal?
    You did not address my points, nor are the answers to these questions pertinent the constitutionality of the Federal Reserve.

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    Re: House committee subpoenas Federal Reserve

    Quote Originally Posted by celticlord View Post
    No, the power to coin money is limited to Congress.
    I clarified this in my second point, I believe.

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    Re: House committee subpoenas Federal Reserve

    Quote Originally Posted by RightinNYC View Post
    The president has control over the majority of the FOMC, while Congress has absolute control over the very existence of the Fed.
    I like how you word that very specifically. First you're saying sarcastically that the Fed does not have oversight by a government branch, then you say Congress has absolute control over the existence of the Fed. Yet to even perform a basic audit of the Fed, the Congress has to pass special legislation. What other organizations in the federal government require special legislation to audit, NYC?

    If you could, please elaborate the President's powers of the FOMC and how they are derived.
    Last edited by Liz Peeps; 06-12-09 at 03:48 AM.

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