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Kucinich bill seeks to end the Federal Reserve

danarhea

danarhea

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A bill put forward by Congressman Dennis Kucinich (D-OH) would do what libertarians and conservatives have long wished for: effectively end the Federal Reserve.


The National Emergency Employment Defense (NEED) Act of 2011 would place the Federal Reserve, a private, qusai-governmental institution that controls the nation’s monetary policy, under control of the U.S. Treasury. It would also implement new rules for the financial industry, in hopes of ending the worst abuses that created the 2008 financial collapse and the ensuing recession.
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Politics does make strange bedfellows. Ron Paul and Dennis Kucinich? Who would have thunk it? But guess what? They are both right. The FED needs to be strangled, and the power to create money given back to Congress, who unconstitutionally created the FED in the first place.

Article is here.
 
Absolutely. Go Dennis. I hope this is more than the fact that he's actually in a race this time.
 
danarhea said:
Politics does make strange bedfellows. Ron Paul and Dennis Kucinich? Who would have thunk it? But guess what? They are both right.
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Just because you can find a few extremists on BOTH ends of the political spectrum to support your insane views on the Federal Reserve doesn't make them any less insane. Fortunately most mainstream politicians won't touch this.

The FED needs to be strangled, and the power to create money given back to Congress, who unconstitutionally created the FED in the first place.
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What's unconstitutional about it? The Constitution explicitly gives Congress the power to create money. By creating the Federal Reserve they've essentially outsourced the task and pledged to stand behind the Fed's decisions until further notice. This is no different than the president having the constitutional responsibility of being commander-in-chief, but outsourcing most of the operational responsibility to generals and colonels and whatnot.
 
Kandahar said:
What's unconstitutional about it? The Constitution explicitly gives Congress the power to create money. By creating the Federal Reserve they've essentially outsourced the task and pledged to stand behind the Fed's decisions until further notice. This is no different than the president having the constitutional responsibility of being commander-in-chief, but outsourcing most of the operational responsibility to generals and colonels and whatnot.
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....................................
 
danarhea said:
Yea, he does tend to contradict himself sometimes. LOL.
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Umm where do you think the Federal Reserve CAME from? From an act of CONGRESS. By this same asinine logic that would suggest to you that Congress needs to PERSONALLY handle all decisions over the things to which they have constitutional power, do you think that the President of the United States also needs to personally tell each enlisted member of the military how many push-ups they need to do on a daily basis? I don't see any constitutional authority for anyone else to command them. :roll:

The fact is that both the president and the Congress outsource some of their tasks to other entities, and have implicitly pledged to stand by those decisions. They can revoke that pledge at any time, but unless they do, those agencies have authority and there is nothing unconstitutional about it. Congress created the Federal Reserve, so the Federal Reserve's decisions are Congress' decisions.
 
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I appreciate the sentiment, but the Federal Reserve is not going to end until the system ends. That institution is the most stubborn of them all, and it has fully integrated itself into all our points of power and points of weakness. If the Reserve does go down, it will go down fighting hard.
 
Temporal said:
I appreciate the sentiment, but the Federal Reserve is not going to end until the system ends. That institution is the most stubborn of them all, and it has fully integrated itself into all our points of power and points of weakness. If the Reserve does go down, it will go down fighting hard.
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Its not going down in anyones lifetime that visits this board today. Im not stating whether it should or not..just that its not going anywhere....
 
Kandahar said:
Umm where do you think the Federal Reserve CAME from? From an act of CONGRESS. By this same asinine logic that would suggest to you that Congress needs to PERSONALLY handle all decisions over the things to which they have constitutional power, do you think that the President of the United States also needs to personally tell each enlisted member of the military how many push-ups they need to do on a daily basis? I don't see any constitutional authority for anyone else to command them. :roll:

The fact is that both the president and the Congress outsource some of their tasks to other entities, and have implicitly pledged to stand by those decisions. They can revoke that pledge at any time, but unless they do, those agencies have authority and there is nothing unconstitutional about it. Congress created the Federal Reserve, so the Federal Reserve's decisions are Congress' decisions.
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The Federal Reserve Corporation was created on Jekyll Island and a deal made to get Wilson elected if he promised to make it the Central Bank. It is a private Corporation that will not reveal the names of its stockholders. It has twelve member banks and the head of each of those banks has a vote on the board, plus the US gov't has three votes, including Bernanke, I think. Allegedly, David Rockefeller owns five of those Federal Reserve Banks. Before that, the US Treasury was our banker and JFK had signed an executive order for the US Treasury to start printing US Notes again. It was the Executive Order that was repealed as LBJ's first official act of business.
 
Kandahar said:
Umm where do you think the Federal Reserve CAME from? From an act of CONGRESS. By this same asinine logic that would suggest to you that Congress needs to PERSONALLY handle all decisions over the things to which they have constitutional power, do you think that the President of the United States also needs to personally tell each enlisted member of the military how many push-ups they need to do on a daily basis? I don't see any constitutional authority for anyone else to command them. :roll:

The fact is that both the president and the Congress outsource some of their tasks to other entities, and have implicitly pledged to stand by those decisions. They can revoke that pledge at any time, but unless they do, those agencies have authority and there is nothing unconstitutional about it. Congress created the Federal Reserve, so the Federal Reserve's decisions are Congress' decisions.
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Perhaps the president and congress should just outsource their decision concerning war to Haliburton. Just think about all the votes and decisions they could avoid.
 
Temporal said:
I appreciate the sentiment, but the Federal Reserve is not going to end until the system ends. That institution is the most stubborn of them all, and it has fully integrated itself into all our points of power and points of weakness. If the Reserve does go down, it will go down fighting hard.
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It isn't. But it's also not going to be a bad thing if there is oversight in what they are doing. One shoul dnot have to sue to find out what the Fed is doing with OUR money.
 
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