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IPSecure
09-27-2008, 10:21 PM
Dr. Paul has a solution... We need to call, email and fax again!

http://www.campaignforliberty.com
http://www.campaignforliberty.com/blog/?p=629

END THE FED!
If you agree, call your Congressman (http://www.congress.org/congressorg/home/) today…

Federal Reserve Board Abolition Act (Introduced in House) HR 2755 IH
110th CONGRESS 1st Session H. R. 2755

To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES
June 15, 2007

Mr. PAUL introduced the following bill; which was referred to the Committee on Financial Services

A BILL
To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE.

This Act may be cited as the `Federal Reserve Board Abolition Act’.
SEC. 2. FEDERAL RESERVE BOARD ABOLISHED.

(a) In General- Effective at the end of the 1-year period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System and each Federal reserve bank are hereby abolished.

(b) Repeal of Federal Reserve Act- Effective at the end of the 1-year period beginning on the date of the enactment of this Act, the Federal Reserve Act is hereby repealed.

(c) Disposition of Affairs-
(1) MANAGEMENT DURING DISSOLUTION PERIOD- During the 1-year period referred to in subsection (a), the Chairman of the Board of Governors of the Federal Reserve System–
(A) shall, for the sole purpose of winding up the affairs of the Board of Governors of the Federal Reserve System and the Federal reserve banks–
(i) manage the employees of the Board and each such bank and provide for the payment of compensation and benefits of any such employee which accrue before the position of such employee is abolished; and
(ii) manage the assets and liabilities of the Board and each such bank until such assets and liabilities are liquidated or assumed by the Secretary of the Treasury in accordance with this subsection; and
(B) may take such other action as may be necessary, subject to the approval of the Secretary of the Treasury, to wind up the affairs of the Board and the Federal reserve banks.
(2) LIQUIDATION OF ASSETS-
(A) IN GENERAL- The Director of the Office of Management and Budget shall liquidate all assets of the Board and the Federal reserve banks in an orderly manner so as to achieve as expeditious a liquidation as may be practical while maximizing the return to the Treasury.
(B) TRANSFER TO TREASURY- After satisfying all claims against the Board and any Federal reserve bank which are accepted by the Director of the Office of Management and Budget and redeeming the stock of such banks, the net proceeds of the liquidation under subparagraph (A) shall be transferred to the Secretary of the Treasury and deposited in the General Fund of the Treasury.
(3) ASSUMPTION OF LIABILITIES- All outstanding liabilities of the Board of Governors of the Federal Reserve System and the Federal reserve banks at the time such entities are abolished, including any liability for retirement and other benefits for former officers and employees of the Board or any such bank in accordance with employee retirement and benefit programs of the Board and any such bank, shall become the liability of the Secretary of the Treasury and shall be paid from amounts deposited in the general fund pursuant to paragraph (2) which are hereby appropriated for such purpose until all such liabilities are satisfied.

(d) Report- At the end of the 18-month period beginning on the date of the enactment of this Act, the Secretary of the Treasury and the Director of the Office of Management and Budget shall submit a joint report to the Congress containing a detailed description of the actions taken to implement this Act and any actions or issues relating to such implementation that remain uncompleted or unresolved as of the date of the report.

"Let's Rock!" - Al Bundy

RonPaulVolunteer
09-27-2008, 10:28 PM
I am tired of the BS on here that says bills like this will never happen. FTW!!! Let's do it! LET'S DO IT!!!

Texan4Life
09-27-2008, 10:34 PM
i am tired of the bs on here that says bills like this will never happen. Ftw!!! Let's do it! Let's do it!!!

f^ck yeah!!!!

Ex Post Facto
09-27-2008, 11:04 PM
Wrote this on the fly...hopefully this actually gets heard if it's on the floor out of committee there must be some support behind this.


Mr. Hayes:

I write you to ask your support of HR 2755, the Federal Reserve Board Abolition Act. I do ask for your support out of concern for my neighbors, community and my own family. This economic situation has opened a lot of eyes in North Carolina to the fact that our representatives are not doing their job. Throw in not having gas for weeks in Charlotte area and you have ticking mass of people not willing to put any trust into their elected officials. There is a way to reinstill this trust, and it comes with hearing what the people want. Make no mistake about it most people don't want free handouts, although if offered they would gladly take them. This economic situation began a long time ago, there were signs, there were red flags being waved, and people looked the other way. Those that take an interest in their country actually took notice and agreed there were warning signs.

The biggest sign I have seen in my lifetime is the Federal Reserve system, operating without transparency. Inflating our money supply, even as wages rise the buying power decreases until the middle class has been squeezed out. The Federal Reserve has contributed to our economic mess through over inflation of our currency, and creating valueless currency.

I ask you, and tell you, there is no greater threat to this country than a money supply controlled outside of the government body. The Federal Reserve needs to be abolished. If you do stand for limited government then we must take note of the size of our government, our spending habits, and start reducing those on a massive scale. But first and foremost, our currency must have trust restored to it. Additional spending loans, and increased budget is against everything America stands for as well as the Republican party.

Again, please realize the whole nation is watching. People are demanding a change, and frankly neither candidate offers real change. Let this change not come from a President. Let it come from our elected representatives whom our supposed to represent the people...let us begin to believe that our elected officials take their oaths seriously and will defend the principles of our constitution.

Please support HR 2755 IH - Federal Reserve Board Abolition Act

IPSecure
09-28-2008, 10:11 AM
Wrote this on the fly...

Bump