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RE: SPENDING POWER AND THE FEDERAL RESERVE...

in #sound-money4 years ago

"First Bank of the United States" " In 1811, the U.S. Senate tied on a vote to renew the bank's charter. Vice President George Clinton broke the tie and voted against renewal. The bank's charter thus expired in 1811."
https://en.wikipedia.org/wiki/First_Bank_of_the_United_States

"Second Bank of the United States" "Failing to secure recharter, the Second Bank of the United States became a private corporation in 1836,[5][22] and underwent liquidation in 1841.[23]" "Jackson mobilized his political base[82] by vetoing the recharter bill[83] and, the veto sustained,[84] easily won reelection on his anti-bank platform.[85] Jackson proceeded to destroy the bank as a financial and political force by removing its federal deposits,[86][87][88] and in 1833, federal revenue was diverted into selected private banks by executive order, ending the regulatory role of the Second Bank of the United States.[5][89]"
https://en.wikipedia.org/wiki/Second_Bank_of_the_United_States#Jackson's_Bank_War

"First Bank of the United States" "Thomas Jefferson saw it as an engine for speculation, financial manipulation, and corruption.[1] In 1811 its twenty-year charter expired and was not renewed by Congress."
https://en.wikipedia.org/wiki/History_of_central_banking_in_the_United_States

"“Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out!”

― Andrew Jackson"
https://www.goodreads.com/quotes/692163-gentlemen-i-too-have-been-a-close-observer-of-the

"After Jackson, who was opposed to the central bank, was reelected, he pulled the government's funds out of the bank. Jackson was the only President to completely pay off the debt.[147] The bank's charter was not renewed in 1836."
https://en.wikipedia.org/wiki/Federal_Reserve

"After his second term as President, Jackson retired here to the Hermitage outside of Nashville to live out his life. He is still remembered here for his determination to kill the Bank. In fact, he killed it so well that it took the "money changers" 77 years to undo the damage. "
https://www.dailykos.com/stories/2006/12/7/278792/-

Apparently I misspoke about the current federal reserve's charter, it was apparently put in auto renew when the act was amended in 1927

"The Federal Reserve Act originally granted a twenty-year charter to the Federal Reserve Banks: "To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law." [15] . This clause was amended on February 25, 1927: "To have succession after the approval of this Act until dissolved by Act of Congress or until forfeiture of franchise for violation of law." [16]"
https://en.wikipedia.org/wiki/Federal_Reserve_Act

Nevertheless, congress passes over 400 acts a year, it would be very simple for them to pass an act ending the federal reserve. Furthermore, the part about violating the law, well, ben shalom bernanke, janet yellen and jerome powell should be tried in the international criminal tribunal in the hague for crimes against humanity for destroying our currency and economy. It's called counterfeiting, it's a violation of the law, the federal reserve already has no mandate and should be gone.

here's a good video

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