Subject:
Why has Congress violated the US Constitution by creating the Federal Reserve through the 1913 Federal Reserve Act that is in clear violation of the US Constitution and that the US Congress is not given the power or authority to do give to the privat
To:
Sen. Jim Webb
Rep. Gerry Connolly
Sen. Mark Warner
November 2, 2009
Why has Congress violated the US Constitution by creating the Federal Reserve through the 1913 Federal Reserve Act that is in clear violation of the US Constitution and that the US Congress is not given the power or authority to do give to the private Banking Sector?
"Constitution for the United States of America
We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.
Article. I.
Section 8. The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate commerce with foreign nations, and among the several states, and with the Indian tribes;
To establish a uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the United States;
To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures; "
"H.R. 1207 Audit the Federal Reserve
This bill would require that the Federal Reserve - an organization that's independent from the U.S. government but nonetheless oversees U.S. monetary policy - be opened to oversight by Congress.
This bill has over 300 co-sponsors.
What Happened???:
All of the teeth have now been pulled out of the House Bill. The Chairman of the House Financial Service Committee's panel on domestic monetary policy, Representative Mel Watt, D.N.C., seems to be responsible in whole or in part, for eliminating just about everything in preparation for the bill's consideration on the floor of the House.
Watt, has significant connections to the banking industry.
Further investigation through OpenSecrets.org reveals that the largest share of Watt's campaign contributions in the 2008 election cycle came from the finance, insurance and real estate industries. In fact, of $609,072 given to Watt, $217,109 - or 35.6 percent - came from the money sector, including over $187,000 - or nearly 31 percent of his total contributions - from political action committees within the finance, insurance and real estate industry. The next highest industry supporting Watt was labor, which contributed only 14 percent of his total war chest. Furthermore, the four largest contributors to Watt's cause were Bank of America, Wachovia Corp., American Express and the American Bankers Association. Now we understand why he does not want any audits! He boldly appears to be in bed with them. Why Taxpayers Need This Bill: Per House Representative Ron Paul, '"Since its inception, the Federal Reserve has always operated in the shadows, without sufficient scrutiny or oversight of its operations.'
The Honorable Ron Paul further represents '"The Federal Reserve can enter into agreements with foreign central banks and foreign governments, and the GAO (Government Accountability Office) is prohibited from auditing or even seeing these agreements.
Why should a government-established agency, whose police force has federal law enforcement powers, and whose notes have legal tender status in this country, be allowed to enter into agreements with foreign powers and foreign banking institutions with no oversight? Particularly when hundreds of billions of dollars of currency swaps have been announced and implemented, the Fed's negotiations with the European Central Bank, the Bank of International Settlements, and other institutions should face increased scrutiny, most especially because of their significant effect on foreign policy.
If the State Department were able to do this, it would be characterized as a rogue agency and brought to heel, and if a private individual did this he might face prosecution under the Logan Act, yet the Fed avoids both fates."
What it boils down to is this: The IRS does not have a problem auditing me or my business. Nor does the IRS have any problem in property or financial account(s) seizure or incarcerating individuals.
Why then or what is there to hide as to not allow auditing of the Federal Reserve? "
Clifton , VA
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