The Federal Reserve—Deadly Hostility to the Constitution

Vijay Kumar for Congress Blog ^ | 24 February 2010 | Vijay Kumar

[Denriddy]

The Federal Reserve is unconstitutional and must be abolished, returning the powers it has usurped to the Legislative Branch where those powers irrevocably were granted by the People of the United States. ...Any argument that the Federal Reserve was created under the "necessary and proper" clause is absurd. The entire bleat of the Federal Reserve against being audited is to preserve its "independence" in monetary policy! That is a blatant admission that it is a law unto itself, a sovereign that has usurped control of, stolen, the entire wealth of this nation.

[bvw]

I’m satisfied already. My judgment is that the Federal Reserve is un-Constitutional. Many agree with me. Including, by obvious research — every Founder.

[DannyTN]

Oh and welcome to FR.
What’s your connection to Kumar’s candidacy?

[Sprite518]

Oh so you like the Federal Reserve? I hope you are not saying that.

[DannyTN]

"I’m satisfied already. My judgment is that the Federal Reserve is un-Constitutional. Many agree with me. Including, by obvious research — every Founder."

Okaaaaay. Well you just share your opinion with the Supreme court and I'm sure they'll remedy the situation.

[Mase]

A legal audit rather than a financial audit? How would that work?

Congress is concerned about whether or not the Fed is constitutional rather than whether or not their books are correct? Interesting. Ron Paul has admitted he's not interested in the financial information another audit might uncover. He's only interested in policy. Does that mean all other members who support the audit agree with Paul?

Paul wants to abolish the Fed and turn the money supply over the Barney Frank, Charlie Rangel, Chuck Schumer and Chris Dodd. What could possibly go wrong with that? Is the problem with our economy that it isn't politicized enough already? Further politicize the economy and surrender as a foreign policy. Is this what passes for conservative thought these days with the Paulbots?

Heaven help us.

[DannyTN]

"Oh so you like the Federal Reserve? I hope you are not saying that."

I'll say it! I like the Federal Reserve. You can't run a modern economy without a central bank like the Federal Reserve.

Hey, but you guys who think barter economies are cool, and want shut down all lending (currency creation) and go back to carrying gold around in your pocket, go for it. There is really nothing stopping you.

[Mase]

Do you happen to have another chart showing real income growth over the same time period? Have our incomes grown faster than the rate of inflation since 1913?

[Travis McGee]

It's too late. You could nationalize the Fed and it wouldn't matter. The US is bankrupt, and there's nothing that can fix it (not that anyone in the Federal government is even trying). Sovereign default isn't just for funny foreign countries any longer.

I agree. The Titanic is taking on water. We're past who's fault it is, or whether the watertight doors and pumps will work.

It's lifeboat time.

[DannyTN]

"Paul wants to abolish the Fed and turn the money supply over the Barney Frank, Charlie Rangel, Chuck Schumer and Chris Dodd. What could possibly go wrong with that?"

ROFLMAO!!!!!

[Mase]

The Federal Reserve has been around since 1913 but you want someone to prove to you that it is constitutional? In 100 years, has no one has challenged the constitutionality of the Fed? Is this true? If so, I wonder why.

[Mase]

It’s better than what existed before. Unless you like 5% inflation one year followed by 5% deflaion the next. That must have been so helpful to a nation where more than half the popoulation was employed by agriculture.

[Mase]

This guy is running for public office? Good grief.

The kind of populist BS, based on a economic ignorance, won't do the Republican Party any good. Let's hope he goes down in the primary.

[bvw]

The Supreme Court has been wrong, way wrong, before. Dred Scott, to name one. But also the Federal Courts were wrong to the Founder's intent in Raichie v. Federal Reserve Bank of New York, a 2nd Circuit decision that some consider the closest that the Federal Courts have to a ruling on the Fed's constitutionality.

And the 2nd Circuit was wrong in that because the Supreme Court got it wrong, or at least allowed too much leeway in Hepburn v. Griswold (1870); Knox v. Lee (1871); and Juilliard v. Greenman (1884). Those three cases are the ones that allowed that which the Founders intended to keep out with the following words:

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

To coin Money is intimately associated by that grammatical construct with a STANDARD weight and measure. Fiat money that is not backed by a fixed weight standard is thus un-Constitutional.

[bvw]

Chattel slavery existed over 100 years before Dred Scott, too.

[bvw]

typo: “Raichle v Fed”

[bvw]

Is that yet another variation on the old “those who do not agree with my stated position are ignorant just by that disagreement” form of false argument?

[Sprite518]

Here is the problem. Look at the link. The reason this is happening is because the Federal Reserve allows congress to spend.

http://www.usdebtclock.org/

This great Federal Reserve you defend did not even warn you about the current crisis. Bernanke said everything was okay. But you still trust him and the Federal Government. This is the same government that said Global Warming was real, Social Security and Medicare will never run out, and Obama, etc... If our government was a person, and lied to you on a regular basis. Would you trust what they say? I have a feeling you would say no.

You obviously do not know your history when it comes to the central bank. That's okay because most people do not. I will admit to you I knew more about the CIA then I did the Federal Reserve until about 3 years ago. If you look at history, then will see the same pattern that we are going down today. Rest assured our nation will not survive if we stay on the current path. And that is not just Obama. It’s the Republicans too. Both parties are spending money like there is no tomorrow. Moreover, it is the Federal Reserve that is enabling them to do this.

I am sure you think pretty highly of our Founding Fathers like I do. Do you know they were strongly against a strong Central Bank like the Federal Reserve. Here is a quote for you.

The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered. —Thomas Jefferson

Here is something you can watch that is where I got my start. This is from 1995.

http://www.youtube.com/watch?v=7auQEXTWomA

I strongly urge you to go back and do some research. If you are objective as you claim you are, then please take some time a look this over.

[Sprite518]

See post 37. Thanks.

[Mase]

Slavery is wrong. Not much gray area there, don't you agree?.

"The Congress shall have Power To coin Money and regulate the Value thereof."

I won't hold my breath waiting for the courts to decree that the Fed is unconstitutional. You may pine for the days where Barney, Charlie, UpChuck and Chris use the Fed for their own political ends (have we learned nothing from the housing bust?) but I guess I'm just a different kind of conservative.

[Mase]

Sometimes ignorance simply speaks for itself. Populism is rife in this article and is based on ignorance. There is no other way to say it and there is no need to treat it with kid gloves. It is what it is. Conservatives should run fast and far from it.