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IPFS News Link • Federal Reserve

How Banks Create Money Out of Thin Air

8-4-2008 • The Red Carpet blog

The Federal Reserve is the central Bank of the US that was created by Congress in 1913. Since then all other banks lost the authority to print and issue their own currency. However, they still can create money literally out of thin air

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Reported By Powell Gammill

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1 Comments in Response to How Banks Create Money Out of Thin Air

Comment by Ron Moss

Entered on: 8/5/2008 7:32:33 AM

Please check out the case of Schecter Poultry v US 295 US 495 1935. Our Supreme Court ruled
"Congress cannot abdicate it's responsibility and delegate to another group" Only congress can coin money and regulate the value thereof. If it was unlawful then it still is now. Call the cops.

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