North Country Girl wrote on 05/02/14 at 22:43:40:Okay sir, since your question was directed at me, I had to look a few things up.
So the way I understand it, Woodrow Wilson signed the law creating the Federal Reserve on December 24 1913. While everyone was home for Christmas and no one was watching. There was no debate, and no vote. I suppose it must have been an executive order.
It was created with the Federal Reserve Act, and it was a 20 year charter that then became a perpetual charter.
If the charter is allowed to expire, and we dissolve the Fed, would the debt go away like magic??
The founders did not want a central bank. They should have written an amendment banning such institutions. I think we could all get behind such a movement… Agreed?
The need for banning a privately owned, the key there is privately owned, central bank wasnt needed. The C Calls for our government to "coin the money", so, splitting hairs, they coin the coins. At the time, paper $$ wasnt around, it was all coins. & much of the debt would go away, as much of the debt is the interest on the loans that are used to create the dollars,.& what part wouldnt magically disappear could, in large part, be simply put aside, as Greenland did, just before they started handing down arrest warrants for the bankers who illegally signed them onto debts. As is, the banks Have no $$. Loans are created first, then deposits follow. I dont know where I was when I was listening to this being explained, the web is a large place, but if yhoull spend some time listening to G Edward Griffin's Creature from Jekyll Island, youll come away with a wealth of knowledge & a completely new set of eyes to see the world thru..
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