Thank you for stopping by for a visit. You are invited to read and comment on anything posted on this blog. I advocate the maximum amount of Personal and Economic Liberty, consistent with the defense of individual rights. I am fiscally conservative yet socially tolerant, I favor lower taxes, free trade, individual rights, strong national defense and limited government. I subscribe to the Freedom Fighters Creed: I am an American Patriot, defender of the Constitution, First Principles and Essential Liberty.

I believe that buried deep down inside every Conservative you'll find a Libertarian - And Inside Every Liberal Is A Totalitarian Screaming To Get Out.

"One of the penalties of refusing to participate in politics is that you end up being governed by your inferiors" - Plato

FYI any crude or vulgar comments will be removed from the blog.

Monday, October 3, 2011

Is the Federal Reserve Constitutional?

The Federal Reserve is the central bank of the United States. It is in charge of printing money, issuing bonds and setting interest rates for those bonds. Article 1, Section 8 says, "The Congress shall have Power ... to coin Money, regulate the Value thereof." The Federal Reserve is never mentioned. Has it always been this way? Does any other country do this? How did the Federal Reserve get its power over our currency and our economy? And the issue so many are interested in today: is the Federal Reserve constitutional?
Has it always been this way?
At the dawn of the Republic our first Secretary of the Treasury Alexander Hamilton issued several reports which in many ways set the tone and pointed the way for the development of America in the economic sphere. His first report on the public credit recommended that the new central government not only honor the debts contracted under the original government as established under the Articles of Confederation but that it also assume the war debts of the States. This recommendation was followed by Congress and the Washington administration created what has evolved into a permanent national debt. CONTINUE READING 

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