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News Link • Federal Reserve

Ron Paul Stands Up to Goliath

• Lew Rockwell

5 Comments in Response to

Comment by Edwin Sumcad
Entered on:

     Since when did occultism, the use of dirty language and the cynical laugh of the ignorant make a point in a civil debate?

     To SamFox:

      Congress has the power to delegate its policy-making function to the Fed or similar government bodies created by law.  You have to pass the Bar to prevent an embarrassment by exposing this ignorance in public.

      Only Constitutionalists and the high courts can interpret the Constitution legally. You are neither of them.  There is more than what you read in the Constitution.

      You ask who owns the Fed. It’s like asking who owns the Government. Many lost bystanders learned more about the Fed by reading this material I have recommended: Role Of the Fed In The Economy.

       At least try to understand what the high courts say, before you say that you don’t believe what they say. Try to know first what you do not believe in, and support it or even just explain it.  Obviously, you are not a lawyer trying to argue like you are.

        It sounds so innocent when you ask why there is resistance to “Ron Paul’s call for an audit”. Anyway, don’t you know?  You should know and must know before making a comment.  Do you understand why this issue is being debated?

       Do I support a Fed audit?  No I don’t. Why? And why not? It’s the way it is, Virginia.

       You are surprise why the Fed “answers to no one”. It’s called “independence” of the Fed created by law.  And why? You should know or should have read first the teaching material I recommended before you can contribute to the discussion of this “audit” issue.

       You have to prove that the Fed is NOT a legal government institution, not I to prove if it is legal. Proof is already in the pudding – it is existing since 1913. 

       Better still, you can challenge the Fed’s legal existence in the court of law.  But I doubt it when your knowledge about the Fed is embarrassingly too scanty or anemic.  No offense intended but nobody goes to court by asking who “owns” the Fed, then wage a big legal battle for the court to declare the Fed unconstitutional.  That would put the law profession to shame.  I can engage in a court battle, but I won’t.  You can’t.

       You ask: “If all was above board at the time the Fed was foisted on the USA, why did they have to sneak it in during a Christmas break?”  Who said that every conference – private or public – should be by law open to public?  And by what law is that? Are all public or private meetings on a X’mas break have a criminal intent to murder or rob the public?

       What you need is not a sinister suspicion but proof of criminal intent surrounding the holding of a close meeting leading to the creation of the Fed by law.

      As to your questions on economics – like do I like inflation? – is so juvenile that it is just wasting any economist’s valuable time even just to notice them.

      Lolo …/07/11/09




Comment by Rocky Frisco
Entered on:

Lolo says (in so many words):

"The Emperor does too have new clothes!"


Comment by Sam Weathersby
Entered on:
Lolo writes: "As a whole the function of the Fed as created by law...". The problem is, the law was not followed to create the Fed. Where does the Constitution say that Congress has the authority to give any another entity power over the coinage of US currency? No such authority exists in the Constitution. See Article 1 section 8.


As applied to US money, A1s8 says only Congress has the authority "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

To provide for the Punishment of counterfeiting the Securities and current Coin of the United States; "


As far as I know there is nothing in the Constitution that says Congress can give any one else ANY of  it's Constitutional duties. If I am wrong please show me where the Constitution so says, not what some activist judge or lawer says, quote the Constitution please. .


Lolo, if as you say the Fed is not a private thing, tell us who owns it? Who controls it & why are they resisting Ron Paul's call for an audit? What do they have to hide? Do YOU support Dr. Paul in his quest to audit the Fed? Why or why not?


Please also note that not one US government agency has any over sight of the Fed.  They answer to no one in Congress or the Prez. If the Fed is a legal, US government owned & controlled system, why is that?


Prove that the Fed was created legally. If all was above board at the time the Fed was foisted on the USA, why did they have to sneak it in during a Christmas break?


A tree is know by it's fruit. The fruit of the Fed has not been good to the US economy. You actually like inflation??? Manipulation by the Fed of our economy?? I don't.

















Comment by Avenueoflight truth AGAINST tradit
Entered on:

You MIGHT want to look at my slideshows to see where he's really coming from.

Comment by Edwin Sumcad
Entered on:

  It Is Misleading  …to say the least!

    Read the   Lewis Case: “[T]he reserve-bank … retains to the Government power over the exercise of the broader banking functions, while it leaves to individuals and privately owned institutions the actual direction of routine.” [ United States Court of Appeals, Ninth Circuit 680 F.2d 1239; 1982 U.S].

    As a whole the function of the Fed as created by law, is divided into two categories: It is a government entity if it exercises “broader banking functions” – it is a private entity if it operates its “routine” function … BUT only for the purpose/s of the Federal Tort Claims Act [the Lewis legal dictum].

    The formulation and implementation of FISCAL and MONETARY policies belong to the “broader banking functions” of Government exercised through it public institution -- the Federal Reserve of the United States. Thus the Fed is always a PUBLIC instrumentality and/or entity of the Government. [Read several consistent rulings of the high courts cited by the 9th Circuit Court of Appeals in the Lewis Case.]

    It is so easy for anyone to declare that the Fed is a “private” institution.  Since this is FALSE, it is so difficult to prove that it is [except when performing a “routine” function for purposes of the Federal Tort Claims Act]. 

     You just declared that the Fed is a “private” corporation, but your LEGAL AUTHORITY to support such declaration is NOWHERE TO BE FOUND!

    If you can cite any legal jurisprudence [legal authority] to prove that the high courts were wrong in declaring that the Fed retains its government power in exercising “broader banking functions”, maybe I will invite colleagues of higher learning to consider going back to law and economic graduate schools to re-learn what we all have missed.

     No offense intended. I am just igniting the light of knowledge so that the public will not get confused and stumble in the dark because knowing the truth about the Federal Reserve of the United States is being obscured and the right to know is denied, whether unwittingly or intentionally.

     With regrets!

     Lolo … 07/10/09.

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