End the Federal Reserve

[LibertyPhoenix]

I believe one very important point should be that the Federal Reserve Act needs to be repealed. Since its inception in 1913, through inflation, the Federal Reserve Central Banks have drained over 90% of the purchasing power of the U.S. dollar. Not to mention that every dollar we have printed comes with inherint debt attached to it. How can this country ever be free if we neglect to address the issue of the people printing our money having tottal controll over us. End the Fed and put the power back into the United States Government!!

[John Buda]

I agree, this really needs to be one of our grievances.

[NickGhizas]

I agree. As I stated in the Grievances section, but is probably more useful here:

1. In article 1 section 8 of the U.S. Constitution, it specifically states Congress has the power "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;". Currently Congress is not using that power, they have given that power to the Federal Reserve, who regulates and fixes the value of our currency behind closed doors. Congress is only using their power (also from article 1 section 8) "To borrow money on the credit of the United States;" and they are borrowing it from the Federal Reserve, creating unnecessary debt and losing necessary power. We need to overturn the Federal Reserve Act of 1913 which granted the Federal Reserve these powers in the first place and return to a government issued, asset-backed currency.

 

2. The repeal of provisions of the Banking Act of 1933 (also known as the "Glass-Steagall Act") by the Gramm–Leach–Bliley Act in 1999 effectively removed the separation that previously existed between investment banks which issued securities and commercial banks which accepted deposits. This allowed Wall Street investment banking firms to gamble with their depositors' money that was held in commercial banks owned or created by the investment firms. We need to demand that Congress pass HR 1489 to repeal certain provisions of the Gramm-Leach-Bliley Act and revive the separation between commercial banking and the securities business, in the manner provided in the Banking Act of 1933 before it was revised.

[LibertyPhoenix]

HEAR HEAR!! I SECOND AND MOVE TO VOTE!! I am in oswego and cannot return until the sat G.A. someone needs to move to vote at the 7 G.A. some time this week! preferably someone with more technical know how than my self should come up with the wording of the proposal.

[Realer]

I also post about this as well. It should be one of our grievances as well.

[Billy]

     I agree that the Fed is a big problem. I think it is more of a symptom than a cause. According to the documentary " The Secret of Oz " we have ended the Fed 6 times or I should say this is our sixth Federal Reserve style money system in the history of this country.

 

     I have no issue in voting to approve this I just want to mention that it is a band-aid on a symptom and not a solution for the problem. I think we need to continue to look deeper.

 

     I think we need two separate strategies. One is a local and/or short term quick/temporary fix approach and the other is a long term global perspective. After all we stand in solidarity with Egypt, Spain, Tunisia, Libya, Syria and many others.

[cameron913]

I think the volume of spelling mistakes speaks for itself in terms of the deep thought and consideration put into this proposal. Of more grave concern is the eagerness to dismantle a central system by someone who clearly does not have a basic understanding of macroeconomic systems. The FED doesn't just exist for no reason, and an actual proposal to dismantle it is far more consequential than seems to have been addressed here. Billy you seem to have the right idea. We really need to address the fact that systems beyond our immediate understanding have broken and that regulatory and administrative changes need to be carefully taken to remedy them. Yelling "End the FED" only propagates the idea that we don't particularly understand the delicacy of the system we are criticizing.

[Chopin]

Ridiculous: raping the earth of precious metals is mind-numbingly barbaric and foolish, gives more power to all the wrong people, etcetera.  I would support auditing the Federal Reserve, but the disestablishment of it is ludicrous.  While all members of ideals from abroad Occupy, this is not the Tea Party.

[bebop]

Chopin said:

Ridiculous: raping the earth of precious metals is mind-numbingly barbaric and foolish, gives more power to all the wrong people, etcetera.  I would support auditing the Federal Reserve, but the disestablishment of it is ludicrous.  While all members of ideals from abroad Occupy, this is not the Tea Party.

I agree, this is not the tea party. But it also isn't an environmentalist movement.

However, the Fed is a purely Keynesian entity and SHOULD be done away with. I believe auditing the Fed would be the first step toward getting public opinion toward ending it.

[Chopin]

I believe that 90% would be possible on auditing the federal reserve; I feel that there would be no chance of passing GA of ending the federal reserve.