The Federal Reserve System

"Since, the opposition in this debate uses valuable space to only inquire on the Fed's constitutionality, this will be addressed first. The Supreme Court in 1819, McCulloch v. Maryland set legal precedent that the US Congress could establish a central bank https://www.law.cornell.edu...... ." Did you ever read the constitution? The constitution grants congress the power to issue currency, specifically to coin money in gold and or silver coin but that is another debate, if you were to read the constitution, you will notice that among the powers granted to the supreme court, amending the constitution is not one of them. So, the Supreme Court Ruling is insignificant, the Supreme Court is not here to make the law, it is here to enforce it and to oversee the court system, I will give you a link to the constitution so you can read it for yourself. http://www.archives.gov... "One assumption made in America is that every bill passed by congress and signed by the President is Constitutional. Every person in the process is sworn to protect the Constitution, it is their first loyalty. None are sworn to protect voters, special interest, or a political idea, only a sacred document. People that take an oath like that can only be trusted. The Constitution gives congress three clauses that apply to the Fed's constitutionality." If you think that just because someone said that they would protect the constitution that it means that everything they do is constitutional just because they said so, you better go read up on the milligrams test. http://www.simplypsychology.org... "Necessary and Proper Clause "The Congress shall have Power ... To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof." This clause, in its modern interpretation, basically, anything congress does is constitutional. As a former Speaker explains when questioned about an obviously unconstitutional bill was being debated in congress, http://youtu.be...... ." Your interpretation is insignificant, the constitution says what it means, this means that it can create departments to serve purposes, but these departments are still limited by the constitution, and no, if everything congress did was constitutional according to the constitution, then the constitution would just be one sentence; "The government is always right!" General Welfare Clause "The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States." It is in the general welfare of the residence of the United States to be protected from economic swings, hold stable legal tender, and have a safe banking system. The Fed has provided all of these for a hundred years. Congress with the Fed has increased the general welfare of America." This is actually very debatable, for one this is dependent upon your point that congress has the power to do anything regardless of the constitution if it is for the general welfare, I would like to state that Adolf Hitler said that the holocaust was for the general welfare. I would also like to state that saying that the Federal Reserve is beneficial does not make it so, truthfully, when you are talking about this, you cannot base it off of what the Federal Reserve says, I will base this off of fact though, for example, before the Federal Reserve, inflation was a steady 1%, then it spiked into double digit inflation, followed by a 2% deflation, now to all those people who are new to economic theory, you are probably thinking, "deflation, ell that can"t be worse than inflation", well the answer is no, it is much worse! In addition, this allows for congress to act for the general welfare, which is regardless still limited by the constitution, not for someone else, who is not congress, to pretend as if it is providing for the general welfare, and to violate the constitution, which is what you are proposing. Commerce Clause "To regulate Commerce with foreign Nations, and among the several States," This commerce regulation responsibility is centralized by a common legal tender. Without common legal tender merchants would not be able to accurately compare the value of products. Multiple types of legal tender is very confusing to most people, their phones can only have so many apps. People cannot be encumbered with currency conversion." This means that congress has the power to regulate commerce, not that they have the power to give that power to a private corporation. "The Fed does not print or coin money. One constitutional objection to the Fed is that money must be of gold or silver, from this clause in the Constitution "No State shall...coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts." This clause limits States not the Federal government or private institutions. If this clause did limit the Federal government or private institutions, it still would not constrain the Fed, since it does not print or coin money, currency, or legal tender. The US Treasury has those responsibilities." So hold it, why then is it that if I open my wallet and get a 1$ bill it says "Federal Reserve Note", the US Treasury prints money for the Federal Reserve, the Federal Reserve simply is borrowing the Treasuries printer because, well, they have the most HD printers in the world, that"s it, the Federal Reserve orders the printing, they issue them, and it says Federal Reserve Note on all of them, so in short no, they don"t coin money they issue paper, and these papers are not legal tender because they are illegal, but they do issue currency. "The Fed purchases legal tender and bonds from the US Treasury with nothing but correspondent values on a balance sheet." If I did that my check would bounce and I would go to Guantanamo Bay. "Another clause, gives congress the responsibility to set value of money "To coin Money, regulate the Value thereof, and of foreign Coin..." This clause does not apply to the Fed since no money is involved, only legal tender." Yes, it says congress, the Federal Reserve is NOT Congress. "Lastly, with the number of court cases with the Fed involved that have reached the Supreme Court, it would have been ruled unconstitutional by now. The Supreme Court's honorable justices only responsibility is to protect the Constitution, they would have ruled against the Fed by now if it were unconstitutional. The court is the final authority for the law of the land, decisions like Dred Scott, Plessy v Ferguson, Citizen's United, and Obamacare show that the court is always right, regardless of morality." Well there you go, you said it flat out "the court is always right regardless of morality, well, let"s all take an example from this man, and tattoo swastikas on our arms, then we can shut "Hail Hitler!" "With the Fed's constitutionality firmly established, next point of supported by republican government will be addressed. The United States is a republic not a democracy. The American republican form of government overwhelmingly supports the Fed, even bipartisan efforts to limit some of its powers are quickly stopped. The customer watch dog Senator Elisabeth Warren could not even get a bill to limit the Fed's powers as lender of last resort to pass the Senate. Another champion for the people Congressman Alan Grayson can't get an Audit the Fed bill through congress. This show the depth of support in America's republican government for the Fed." Again, just because the government says it, does not make it so. I am sorry, there is not enough space to finish my argument.