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To: TaxPayer2000
Your argument as to whether Congress can delegate the power to determine the value of money to a central bank was resolved by Chief Justice Marshall in 1819 in the case of McCullough v. Maryland, in which he ruled that the first Bank of the United States was constitutional.

It should be noted that the Federal Reserve does not print money - that is done by the Treasury, and the mint coins money. The Fed does control the money supply to some extent, although not nearly as much as most people seem to think.
89 posted on 02/07/2002 1:47:03 PM PST by CobaltBlue
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To: CobaltBlue
okay, thank you, I was unaware of that ruling, however, until I investigate it further, I can see no reasonable justification for the delegation of these particular powers of the congress.

From what I understand on the latter matter, is that when needed government barrows money from the fed, at a pre-determined intrest rate, money which in fact congress has the power to print itself. It seems very wrong to me to pay intrest to a 3rd party as it were, for something that could be "created" interest free.

114 posted on 02/07/2002 6:55:35 PM PST by TaxPayer2000
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