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Forum Post: Is the Federal Reserve Unconstitutional?

Posted 10 years ago on Dec. 1, 2011, 12:36 p.m. EST by 420 (40)
This content is user submitted and not an official statement

Can anyone come up with an argument, that it is unconstitutional? I've been looking for a reason as to why it would be. Any help?



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[-] 1 points by ramous (765) from Wabash, IN 10 years ago

You can read the Constitution and see for yourself. Why should I have to do it for you? Shall I post a link to it for you or can you google it on your own?

[-] 1 points by KIRKESS (10) from Spokane, WA 10 years ago

The Federal Reserve was created by Congress and enacted into LAW by a Presidential Signature. The US Supreme Count has always upheld the acts of Congress and the President as Constitutional. In other words, Congress and the President can create it and they can also destroy it.

However, the secret bailout, to the tune of $16 trillion dollar$,of domestic and foreign banks probably placed Bernanke in a very bad position. Twice a year, the Chairman of the Federal Reserve has to appear before the House and the Senate to give testimony about the state of the US economy. During the time he was secretly bailing out the banks he was not imparting the real state of the banking system, hence, the real state of the US economy. This means that Bernanke was committing perjury before the House and the Senate. For every year he kept the bailout secret he can be charge with 4 counts of perjury.

Since both parties have been using the appearance of the Fed Chief as a sounding board for their policies, I doubt Congress will charge Bernanke with perjury. Like the sign stated: Two Parties, No Voice.