What part of the Constitution do you believe is being violated?
Private banks were issuing their own money prior to 1913. They even printed their own currency. This was called ‘bank money’ or ‘credit money’ during the gold standard era to differentiate it from money backed by gold. JP Morgan, America’s largest banker, used to perform most of the functions of the Fed without any government oversight. He was a driving force behind the creation of the Fed because by 1907 the US banking system had grown too large for a private banker to backstop during a crisis.
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What part of the Constitution do you believe is being violated?
Private banks were issuing their own money prior to 1913. They even printed their own currency. This was called ‘bank money’ or ‘credit money’ during the gold standard era to differentiate it from money backed by gold. JP Morgan, America’s largest banker, used to perform most of the functions of the Fed without any government oversight. He was a driving force behind the creation of the Fed because by 1907 the US banking system had grown too large for a private banker to backstop during a crisis.
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You mean, what part(s) ISN’T\AREN’T??
Is banking/finance one of those areas where their limited Congressional power, given over to a 3rd-party\bureaucracy (usually with an expansion of said power(s)), somehow still retains Constitutional muster?
Your contending that a NON-Fed. entity is\was somehow BETTER able to handle functions of Fed. govt instead...so, what’s the big whoop??
Borrow $$, mint actual $$, define the weights\measures thereof?? Just what *ARE* those ‘other functions’ better handled that the Fed. Govt (Putting aside, for now, the idea that Congress HAS the ability to hand over said functions).