Originally posted by: LegendKiller
Originally posted by: Zeppelin2282
Evan you fucking tool.
ARTICLE 1, SECTION 8 OF THE CONSTITUTION STATES THAT CONGRESS SHALL HAVE THE POWER TO COIN (CREATE) MONEY AND REGULATE THE VALUE THEREOF.
IN 1935 THE SUPREME COURT RULED THAT CONGRESS CANNOT CONSTITUTIONALLY DELEGATE ITS POWER TO ANOTHER GROUP. (Reference 22, P. 168)
The Federal Reserve is PRIVATELY OWNED. It is fucking illegal according to our constitution!!!!
The bail out plan is going to make the situation even worse because the reserve is printing money out of thin air! Mark my words, you will see the value of the dollar collapse within the next 10 years.
Man I'm laughing at you with bamacre now too. Ron Paul's great thoughts about a gold standard must of just flew over your head.
Copied that directly from the MoneyMaker website eh? They're about as stupid as your average monkey, but here, I'll help you out.
http://www.publiceye.org/consp...erty/flaherty3.html#10
Finally, and perhaps most importantly, Congress has the right to make any law that is 'necessary and proper' for the execution of its enumerated powers (Art. I, Sec. 8, Cl. 18). A law creating a Bureau of the Mint, for example, is necessary and proper for the Congress to exercise its right to coin money. A similar argument may justify a central bank. It facilitates the expansion and contraction of the money supply and it serves as means to regulate the banking industry.
U.S. v. Wangrund, 533 F.2d 495; C.A.Cal. 1976
The statute establishing Federal Reserve Notes as legal tender for all debts, public and private, including taxes, is within the constitutional authority of Congress; thus the defendant could not overturn his conviction on two counts of wilful failure to make an income tax return on the theory that he did not receive money since checks he received as compensation for his services could be cashed only for Federal Reserve Notes which were not redeemable in specie. 26 USCA §61, §7203; USCA Const. art. 1, §8; Coinage Act of 1965, §102; 31 USCA §392.
The Fed is a quasi-government entity that exists only because of Congress. It is beholden to Congress at every step and must testify in front of Congress when called. It issued financials to Congress.
The rescue plan raises money through the issuance of debt, which is a far cry from "printing money out of thin air". That concept is laughable and is only thrown about by people who have no fucking clue what's going on, as evidenced by your post.
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