We may have a legal fight on our hands over the Federal Reserve and I, for one, WANT THAT! It is high time we End the Fed!
Federal Reserve Chair Jerome Powell was asked last week if he would step aside if asked to do so by President Elect Trump. He simply said: “No.” When asked if the President has the authority to remove the Fed Chief, he also said, “No.” When asked to explain, he said, “Not permitted under the law.”
Oh please, let’s litigate this and end the Fed!
The Federal Reserve was established in 1913 by the Federal Reserve Act of 1913 in order to “furnish an elastic currency.” How is that working out for us? Shitty. It takes $31 to buy the same amount of goods that Americans could buy for just $! prior to the creation of the Federal Reserve. The Federal Reserve has devalued the dollar and allowed the United States to fund endless wars on debt. They also refuse to allow audits of their meetings and funding.
When Ben Bernanke was asked to reveal the recipients of the 2008 bailouts, he said that telling the American public that information was “counterproductive.” !!!
The Federal Reserve is arguably unconstitutional. The Tenth Amendment of the Constitution states that if a power is not “delegated to the United States by the Constitution,” it doesn’t exist. The Constitution also says that paper money is unconstitutional and that only gold and silver should be legal tender. Since the removal of the gold standard, the Fed has, in the words of Doctor Ron Paul, privatized profits and socialized losses.
So could Jerome Powell be the key to the Fed’s undoing because he refuses to step aside if asked by President Trump? Doctor Paul predicted ten years ago that the end of the Fed would only come after a catastrophic and inevitable economic collapse but maybe we don’t have to wait that long!
