The Treasury - Federal Reserve Accord of 1951 is UNCONSTITUTIONAL!
The Constitution establishes the Legislative, Executive, and Judicial Branches of government. All federal government employees work for one of the three Branches. The Constitution does not allow the creation of independent agencies whose employees are not subordinate to one of the three Branches!
All Executive Branch employees are subordinate to the POTUS.
The nation’s monetary policy is a function of the Executive Branch as it implements legislation, and therefore the Federal Reserve System is subordinate to the Executive Branch and subordinate to the POTUS!
Great article - thank you for staying on top of it all and educating people without all the blame and vitriol - just facts. I wish more people knew about you and your work.
thanks. Not on W-sap but duly noted in case you don't want to leave all or part of your comment up. I'm in the 360 ac and am familiar with your website as well. thanks! I got to know about your work a good while back when I used to read Op-Ed News a lot more. So many good journalists and writers there, or there used to be.
Yes, the FED is the handmaiden of the banks in "normal" economic times and their bailbondsman when the banks screw up as in 2008. Yes, the FED's charter needs to be amended to serve all economic agents not just Finance as you correctly point out that IOR does. Yes, "free" market theoretics is actually a misnomer for its actual effect which is financially dominating chaos via the banks wielding of their monopoly paradigm concept of Debt Only for the creation and distribution of all new money. Yes, yes, yes greenbacks are the model for money creation. Why? BECAUSE THEY WERE MONETARY GIFTS!...that plus they were probably the primary reason the North won the Civil War, and the only reason that inflation occurred afterwards is we were on a gold standard instead of a fiat/double entry bookkeeping money creating system and didn't have digital technology as we do now.
So lets have the reforms you suggest and also the policy program of Wisdomics-Gracenomics including the most beneficial and democratizing policy since forever a 50% Discount/Rebate at retail sale which would mathematically double everyone's purchasing power and transform chronic erosive inflation into beneficial price and asset deflation because it is implemented with digital technology at the terminal ending point and summation of all costs where production exits the economy and becomes consumption and because it is the single universally participated in point in the entire economic process, namely retail sale, BENEFITS EVERYONE AND EVERY ECONOMIC AGENT INDIVIDUAL AND COMMERCIAL.
If we want to permanently resolve our economic problems and change the entire character of the economic and monetary system...change the present anomalous paradigm concept. As they say in the NFL "ya gotta go deep, go long!"...'cause the clock is ticking loudly.
Thank you Ellen! I had no idea we were paying IOR to big banks with our tax dollars. Definitely time to confront the Big Bank lobby and stop that. I look forward to your Part II!
The Treasury - Federal Reserve Accord of 1951 is UNCONSTITUTIONAL!
The Constitution establishes the Legislative, Executive, and Judicial Branches of government. All federal government employees work for one of the three Branches. The Constitution does not allow the creation of independent agencies whose employees are not subordinate to one of the three Branches!
All Executive Branch employees are subordinate to the POTUS.
The nation’s monetary policy is a function of the Executive Branch as it implements legislation, and therefore the Federal Reserve System is subordinate to the Executive Branch and subordinate to the POTUS!
Well... we're screwed. But we were before 47!
Great article - thank you for staying on top of it all and educating people without all the blame and vitriol - just facts. I wish more people knew about you and your work.
thanks. Not on W-sap but duly noted in case you don't want to leave all or part of your comment up. I'm in the 360 ac and am familiar with your website as well. thanks! I got to know about your work a good while back when I used to read Op-Ed News a lot more. So many good journalists and writers there, or there used to be.
Yes, the FED is the handmaiden of the banks in "normal" economic times and their bailbondsman when the banks screw up as in 2008. Yes, the FED's charter needs to be amended to serve all economic agents not just Finance as you correctly point out that IOR does. Yes, "free" market theoretics is actually a misnomer for its actual effect which is financially dominating chaos via the banks wielding of their monopoly paradigm concept of Debt Only for the creation and distribution of all new money. Yes, yes, yes greenbacks are the model for money creation. Why? BECAUSE THEY WERE MONETARY GIFTS!...that plus they were probably the primary reason the North won the Civil War, and the only reason that inflation occurred afterwards is we were on a gold standard instead of a fiat/double entry bookkeeping money creating system and didn't have digital technology as we do now.
So lets have the reforms you suggest and also the policy program of Wisdomics-Gracenomics including the most beneficial and democratizing policy since forever a 50% Discount/Rebate at retail sale which would mathematically double everyone's purchasing power and transform chronic erosive inflation into beneficial price and asset deflation because it is implemented with digital technology at the terminal ending point and summation of all costs where production exits the economy and becomes consumption and because it is the single universally participated in point in the entire economic process, namely retail sale, BENEFITS EVERYONE AND EVERY ECONOMIC AGENT INDIVIDUAL AND COMMERCIAL.
If we want to permanently resolve our economic problems and change the entire character of the economic and monetary system...change the present anomalous paradigm concept. As they say in the NFL "ya gotta go deep, go long!"...'cause the clock is ticking loudly.
Thank you Ellen! I had no idea we were paying IOR to big banks with our tax dollars. Definitely time to confront the Big Bank lobby and stop that. I look forward to your Part II!