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View Full Version : Why Federal Reserve is ILLEGAL - Court Ruling in 1982




Someone Else
10-19-2011, 10:16 PM
Let us begin by exposing this mysterious entity known as the Federal Reserve Banking System. This entity is not part of our government. The “Fed” is privately owned by a select group of powerful individuals and private banking cartels. Its express purpose is to fleece the American people by stealing our money under the pretext of a “central banking system” that calls itself Federal. Yet, it is no more a part of, or controlled by, the Federal Government than is Federal Express!

The U.S. Constitution, Article 1 section 8 states:

“Congress shall ... have the power to coin money, regulate the value thereof.”

This authority is granted and vested only in the U.S. Congress. On April 19, 1982, the U.S. Court of Appeals, Ninth Circuit Court ruled the “Federal Reserve Banks are privately owned, locally controlled corporations” [Lewis vs. U.S.].Chairman Louis T. McFadden of the House Banking and Currency Committee, addressed the House on June 10, 1932:

“Some people think the Federal Reserve Banks are U.S. government institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the U.S. for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders.” [75 Congressional Record 12595-12603]

In a speech delivered before the Washington Chamber of Commerce in 1921, William G. Harding, Governor of the Federal Reserve Board stated:

“From a legal standpoint these banks are private corporations, organized under a special act of Congress, namely, the Federal Reserve Act. They are not in the strict sense of the word Government banks.”

This “special act” by Congress in 1913 was in direct violation of the 16th Corpus Juris Secundum, Section 141, which states that Congress cannot delegate or sign over its authority to any individual, corporation, or foreign nation. Yet, that is exactly what occurred in December of 1913 by a select group of individuals in the U.S. Congress. That “special act” has become the biggest fraud in the history of the United States.

written by Devvy Kidd

Someone Else
10-20-2011, 04:34 AM
This is VERY GOOD information that everyone that is for Ron Paul and End the Fed needs to know.