President Woodrow Wilson signed into law the Federal Reserve Act of 1913.
Before it reached his desk, many congressmen were coerced into believing it to be a ‘federal entity’ given its name.
However, there is nothing “federal” about the #FederalReserve. It is owned by 12 member banks spread across the US, who have “shares” in it. The only part of the federal reserve that is controlled by Uncle Sam is when the president appoints its Chairman. As far as its actions & monetary policy, the Fed is not accountable to any branch of the federal government.
🅵🆄🅽 🅵🅰🅲🆃: 𝐃𝐢𝐝 𝐲𝐨𝐮 𝐤𝐧𝐨𝐰 𝐭𝐡𝐞 𝐅𝐞𝐝𝐞𝐫𝐚𝐥 𝐑𝐞𝐬𝐞𝐫𝐯𝐞 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐡𝐚𝐯𝐞 𝐚𝐧 𝐢𝐧𝐬𝐩𝐞𝐜𝐭𝐨𝐫 𝐠𝐞𝐧𝐞𝐫𝐚𝐥 𝐚𝐬𝐬𝐢𝐠𝐧𝐞𝐝 𝐭𝐨 𝐨𝐯𝐞𝐫𝐬𝐞𝐞 𝐢𝐭𝐬 𝐛𝐞𝐡𝐚𝐯𝐢𝐨𝐫 𝐨𝐧 𝐛𝐞𝐡𝐚𝐥𝐟 𝐨𝐟 𝐭𝐡𝐞 𝐞𝐱𝐞𝐜𝐮𝐭𝐢𝐯𝐞 𝐛𝐫𝐚𝐧𝐜𝐡?
Instead they have their own, but is not accountable to the OIG. Even the CIA, the greatest & most clandestine intelligence agency in the world, has an inspector general assigned & appointed by the president. Americans are more likely to understand what goes on in the CIA than the Federal Reserve, because the Fed isn’t accountable to anyone.
The constitution clearly states under Article I, Section 8, Clause 5:
[𝐓𝐡𝐞 𝐂𝐨𝐧𝐠𝐫𝐞𝐬𝐬 𝐬𝐡𝐚𝐥𝐥 𝐡𝐚𝐯𝐞 𝐏𝐨𝐰𝐞𝐫 . . . ] 𝐓𝐨 𝐜𝐨𝐢𝐧 𝐌𝐨𝐧𝐞𝐲, 𝐫𝐞𝐠𝐮𝐥𝐚𝐭𝐞 𝐭𝐡𝐞 𝐕𝐚𝐥𝐮𝐞 𝐭𝐡𝐞𝐫𝐞𝐨𝐟, 𝐚𝐧𝐝 𝐨𝐟 𝐟𝐨𝐫𝐞𝐢𝐠𝐧 𝐂𝐨𝐢𝐧, 𝐚𝐧𝐝 𝐟𝐢𝐱 𝐭𝐡𝐞 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝 𝐨𝐟 𝐖𝐞𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐌𝐞𝐚𝐬𝐮𝐫𝐞𝐬; . . .
With that being said, the Federal Reserve Act of 1913 conflicts with the US Constitution. Only Uncle Sam, per the constitution & fully accountable to the American people, should be the ones responsible for the issuance & management of currency & the monetary system of the nation as a whole. It should not be handled by small elite factions behind closed doors (private banks), who are not accountable to anyone but themselves.
Even the founding fathers, such as Thomas Jefferson, warned of the dangers of the idea of a central bank (I.e. the Fed)
Benjamin Franklin mentioned the colonies inability to get power to issue their own money out of the hands of George III & international bankers was the 𝐩𝐫𝐢𝐦𝐞 𝐫𝐞𝐚𝐬𝐨𝐧 for the Revolutionary War. (Full quote below in the attached images)
#JFK issued a United States Note (executive order 11110) that was to be backed in full by gold, debt free & to be issued by the Treasury, not the Fed.
After his assassination, all notes were removed from circulation🤔🧐. All that was left was the coins (issued by the US mint), which make up less than 1/1000th of the overall currency in circulation & the Federal Reserve Notes (make up the majority of currency)
#introductions
