Re: OT The Fed is an evil planned by evil men



Tony Lima wrote:
On Fri, 25 Nov 2005 14:55:12 -0500, Jeff Davis
<jd_home@xxxxxxxxxx> wrote:


Tony Lima wrote:

On Fri, 25 Nov 2005 14:01:02 -0500, Jeff Davis
<jd_home@xxxxxxxxxx> wrote:



s_knight8 wrote:


http://www.omegaletter.com/articles.asp?ArticleID=5788

In the 1982 case Lewis v. United States, the Ninth Circuit Federal Court of
Appeals stated that the "Federal reserve banks are not federal
instrumentalities for purposes of a Federal Torts Claims Act, but are
independent, privately owned and locally controlled corporations."

As such, the Federal Reserve's role is in direct violation [...]


Oh. You're one of *those*.


Probably correct.  The Supreme Court has ruled in many
similar cases that Congress does not have the power to
delegate responsibilities placed on it directly by the
Constitution.  Most likely the Federal Reserve Act of 1913
was unconstitutional.


It isn't a question of delegation. Anyone can print money. They simply set up a specific corporation that they'd deal with.


The gov't could print other currency if it wanted.


Ahem.  The Constitution gives Congress the power to print
money.  Congress delegated that power to the Federal
Reserve, a non-governmental agency.  (The Fed is most
assuredly not part of the U.S. government.)  Oh, yes, the
Fed is not a corporation either -- at least, not if you're
using the standard U.S. legal definition of "corporation."

So what part of this don't you understand? - Tony

Your idea of delegation. Congress was given the power to print money, but that just means that without that power they couldn't. They aren't giving that power (delegating) that to anyone. Anyone can print money. Lots of corporations used to print money. The Federal Reserve is just an artificial entity that Congress defers to in monetary policy.
.