13 Responses to “Can someone send me the full test of the Federal Reserve Act of 1913? I do not see the actual document anywhere.”

1. Davey Crockett
   September 1st, 2013 @ 4:12 pm

   Orly: I think I read somewhere in the recent past, that the Fed Charter was only supposed to be 100 years long!

   Now, if that’s true, then, it’s possible that we can see WHY the debt has stopped being counted, several months ago????

   And…does that mean that we eigher can’t borrow any more money? or that maybe we don’t need any further borrowing, if we get rid of the (non)-necessities, like planned parenthood, any further war intervention (Syria-?), etc.?!

2. Rich
   September 1st, 2013 @ 6:46 pm

   Any system can be corrupted. All you have to do is corrupt enough voters with free lunches, like affordable housing. The banks were forced to loan the money or face lawsuits. Obama and others were given grants to make loans earmarked for specific voter bases like Chicago outside the Feds. Corruption is the problem it will beat any system. If the president appoints an Honest Chairman and uses oversight it works by setting the interest rate to control supply and demand. The market keeps it honest. There is no system that cannot be corrupted if the people allow it. You just have to have honest oversight not keep blaming the system. You just can’t let bankers set their own rates you have to have some control and honest oversight.

3. Jason
   September 1st, 2013 @ 9:26 pm

   The U.S. Treasury can issue its own fiat money (backed by nothing) Notes and DOES NOT NEED the Fed Reserve. This was done during the Civil War by Lincoln and those notes are still in circulation today. They are rare in number, but are printed with red ink for the seal and serial numbers instead of green ink as in the Federal Reserve Notes. Across the top of the bill it says only “United States Note”. Yes they are still legal tender and likely more valuable than the Federal Reserve Notes.

   The Federal Reserve mandate should not be extended. THEY HAVE DONE A VERY POOR JOB WITH THE ECONOMY. NOW IS THE TIME TO END THEIR REIGN…BUT FIRST ALL THEIR ASSETS SHOULD BE SEIZED BY THE STATES WHERE THE REGIONAL BANKS RESIDE. THIS OF COURSE IS VERY LEGAL AND CALLED “IMMINENT DOMAIN.”

4. KenyanBornObama
   September 2nd, 2013 @ 12:04 am

   https://uscodebeta.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section226&num=0&edition=prelim

5. Mark
   September 2nd, 2013 @ 12:52 am

   The Fed charter was recently changed to become infinite so it does not expire.

6. jimmy dospittle
   September 2nd, 2013 @ 2:02 am

   https://
   archive.org/
   stream/
   cu31924030195238/cu31924030195238_djvu.txt

7. Roy
   September 2nd, 2013 @ 2:59 am

   Orly,

   This should Help

   Fiat standard[edit source]

   Today, like the currency of most nations, the dollar is fiat money, unbacked by any physical asset. A holder of a federal reserve note has no right to demand an asset such as gold or silver from the government in exchange for a note.[28] Consequently, some proponents of the intrinsic theory of value believe that the near-zero marginal cost of production of the current fiat dollar detracts from its attractiveness as a medium of exchange and store of value because a fiat currency without a marginal cost of production is easier to debase via overproduction and the subsequent inflation of the money supply.

   Go to the below Site:

   https://en.wikipedia.org/wiki/History_of_the_United_States_dollar

8. dr_taitz@yahoo.com
   September 2nd, 2013 @ 5:54 am

   can you show me the actual part of the charter that said that it was for 20 years only and the actial doc stating that it will last indefinitely

9. dr_taitz@yahoo.com
   September 2nd, 2013 @ 5:56 am

   I do not see the part that says that it is for 20 years only and the subsequent law that says that it was extended indefinitely. I, also, do not see Section 1 anywhere.

10. KenyanBornObama
    September 2nd, 2013 @ 6:05 am

    Orly, it’s been revised about a dozen times, let me see if I can find the revisions…saw them last night

11. Roy
    September 3rd, 2013 @ 12:05 pm

    In 1971, President Richard Nixon unilaterally ordered the cancellation of the direct convertibility of the United States dollar to gold. This act was known as the Nixon Shock.
    ———————————————–
    In September 1987 under the Reagan administration the U.S. Secretary of the Treasury James Baker made a proposal through the International Monetary Fund to use a commodity basket (which included gold).[citation needed]
    ———————————————–
    Both United States Notes and Federal Reserve Notes are parts of the national currency of the United States, and both have been legal tender since the gold recall of 1933. Both have been used in circulation as money in the same way. However, the issuing authority for them came from different statutes.[27] United States Notes were created as fiat currency, in that the government has never categorically guaranteed to redeem them for precious metal – even though at times, such as after the specie resumption of 1879, federal officials were authorized to do so if requested.

    The difference between a United States Note and a Federal Reserve Note is that a United States Note represented a “bill of credit” and was inserted by the Treasury directly into circulation free of interest. Federal Reserve Notes are backed by debt purchased by the Federal Reserve, and thus generate seigniorage for the Federal Reserve System, which serves as a lending intermediary between the Treasury and the public.
    ———————————————–
    Impact[edit source]

    The United States enjoys many benefits because the dollar serves as the international reserve currency. The United States could not face a balance of payments crisis as American debts are denominated in dollars, thus the Federal Reserve could simply print more dollars.[24] In other words, the United States cannot suffer a debt crisis, per se, but would instead face an inflation crisis. The cost of producing a dollar to the United States is simply the cost of printing the note, whereas a foreign government must provide a dollar’s worth of goods for that dollar; the difference between these two values is called seigniorage and its benefits go directly to the American government.[24] Further, the United States dollar’s position in the world allows the American federal government to borrow money at exceptionally low interests rates due to high demand for the dollar. This phenomena is generally called “exorbitant privilege” and allows the United States to run a balance of payments deficit “without tears,” as French economist Jacque Rueff said.[25]

    The position of the dollar as the international reserve currency also came with costs; the American government would be more likely to forego fiscal expansionary policies in order to maintain confidence in the dollar.[26]
    ———————————————–
    ———————————————–
    So, the Gold Standard as the Value of a dollar
    has been by passed, the International Community
    uses the Value of the Dollar like a Gold Base
    Point.

    As an Economics major in the early 70’s, this
    was the Reality.

    Roy

12. Thomas
    September 4th, 2013 @ 7:50 am

    https://www.ask.com/wiki/Federal_Reserve_Act#Subsequent_Amendments
    MANY Amendments to the Owens-Glass Act.

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