Help Request: Constitutionality of the Federal Reserve (or any central bank)

[Carsten2012b]

I know that the topic would come as a bit of a surprise to you all, seeing as the Federal Reserve is totally hated on these forms, but it seems that for me, its constitutionality comes into question. Yes, the Constitution does state that Congress shall print the money in gold coin, but doesn't the Elastic Clause (Article 1, Section 8, Clause 18) allow Congress to make a central bank, or at least a mint? I'm a bit confused. :/ Here's the link that's the result of my confusion.

http://famguardian.org/Subjects/MoneyBanking/FederalReserve/FRconspire/const.htm

[TaftFan]

Mint yes, but a bank is an additional power not granted.

[Acala]

The Federal government is specifically authorized to coin money and, since it is "necessary" to the coining of money, build a mint. It is NOT authorized to issue paper money, known at the time as bills of credit. It is also not authorized to enact legal tender laws or charter banks. The N&P clause merely allows the acts implied by the specific enumerated powers.

Take a gander at James Madison writing in Federalist #44 for an idea of what the main architect of the Constitution thought on the subject of coining money and bills of credit.

[ZENemy]

http://tenthamendmentcenter.com/2008/07/21/why-the-founders-rejected-a-central-bank/

[Noob]

Audit the Fed Petition

http://www.chooseliberty.org/atf_tmplt_oy.aspx?pid=0205d