1913. Same year, by the way, that the Sixteenth
were both supposedly ratified, and
2 of the Federal Rules of Civil Procedure
was proposed to merge the courts of law and equity. Quite
a year, huh?
Good question. Much of the debate in Congress over Lincoln’s Greenbacks was whether Congress had constitutional authority to print paper currency. The debate still rages today. However, several United States Supreme Court decisions essentially rendered the discussion moot.
Nonetheless, is the Federal Reserve itself constitutional? Congress certainly has power to coin and regulate the value of money. However, does that authority include delegating those duties to another institution such as the Fed? The Fed, although ultimately controlled by Congress, nonetheless is an entity existing outside the executive, legislative, judicial branches of government. This existence is the core of the long and heated debate over administrative agencies. This debate continues to rage today, but several Supreme Court decisions have rendered the discussions moot.
This is not say the Supreme Court is correct, only that the Court has quashed
the debate. However,
NESARA bypasses the Court and restores
as well as restoring to the Treasury the duties to
the value of money
Depends upon the Treasury. Like any corporation, the Fed gets to spend profits throughout the year (reportedly, Christmas parties are quite extravagant), but most of the excess is recycled back into the Treasury.
However, the point is largely academic. The debt owed to the Fed is mere
bookkeeping. NESARA will
eliminate the facade and concern over interest paid. That is, once NESARA
becomes law, the debt “owed”
to the Fed is effectively cancelled.
The Fed uses three mechanisms to implement monetary policy.
The problem with these three mechanisms is they are basically step functions
These mechanisms create and produce knee-jerk responses rather than
smooth transitional feedback as in a
typical feedback control loop. Hence, the tendency toward “booms” and
“busts” and the rough ride
in between. Imagine trying to control your car with the same type of step
function response from the
accelerator and brake pedals—you’d have whiplash every time you traveled.
The reason for these boom
and bust cycles is that the Fed is provided no lawful mandate—or a
goal—of how to control the money
supply. Within strict respect to these three mechanisms, creating money
“out of thin air” is not the
problem. The problem is not having a smooth control mechanism to regulate
the money supply. Lastly,
Congress has deemed that having a slightly inflationary money supply to
be “politically expedient.”
In other words, an inflationary money supply supports Congressional legal
What a great attitude! If only more people yearned for the truth rather than chasing emotionally exhausting rabbits!
First, this web site should answer many of your questions. Second, if you’d
like to read more
straight from the “horse’s mouth” then obtain the many publications
issued by the Fed. Further
information is available on this web site:
Federal Reserve Banks
If not abolished, at least strongly amended, and that is much of what NESARA is
Sponsored by the NESARA Institute
23805 Greenwell Springs Rd.
Greenwell Springs, Louisiana 70739