You're completely misinterpreting the amendment and the Federal Reserve System. Get your GED and then take a few college economics courses, particularly one that's typically called 'money and banking'. (You will probably need to take principles of micro and macro before taking this course.) M&B will cover the Federal Reserve System, how it came about through an act of congress in response to the very large number of bank failures and financial panics prior to the Great Depression, and the roles it plays today balancing sustainable growth targets with price stability (among other things). It will also teach you the difference between fiscal and monetary policy, how each are conducted, and why a failure in one can't be propped up by the other. Some of the same people (politicians included) who advocate dismantling the Fed are the same ones who advocated the securities deregulation that lead directly to the financial crisis. Economic planning and foresight is not their strong suit.
The fact that the Federal Reserve prints money is unconstitutional on the basis that no one other than the United States Treasury can print money. In all actuality the notes (bills of credit) are unconstitutionally being used as actual money! i cannot say without a doubt that the intentions of the congress were pure or not but the fact still remains what goes on today with the Fed is illegal.
IIN to feel that the Federal Reserve System is a travesty? Part 1
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You're completely misinterpreting the amendment and the Federal Reserve System. Get your GED and then take a few college economics courses, particularly one that's typically called 'money and banking'. (You will probably need to take principles of micro and macro before taking this course.) M&B will cover the Federal Reserve System, how it came about through an act of congress in response to the very large number of bank failures and financial panics prior to the Great Depression, and the roles it plays today balancing sustainable growth targets with price stability (among other things). It will also teach you the difference between fiscal and monetary policy, how each are conducted, and why a failure in one can't be propped up by the other. Some of the same people (politicians included) who advocate dismantling the Fed are the same ones who advocated the securities deregulation that lead directly to the financial crisis. Economic planning and foresight is not their strong suit.
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froggyree
12 years ago
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The fact that the Federal Reserve prints money is unconstitutional on the basis that no one other than the United States Treasury can print money. In all actuality the notes (bills of credit) are unconstitutionally being used as actual money! i cannot say without a doubt that the intentions of the congress were pure or not but the fact still remains what goes on today with the Fed is illegal.