Can the Fed, as a private entity, be sued by shareholders (dollar holders) for issuing too much currency?Submitted by LapHog on Mon, 04/22/2013 - 22:12
Via Zerohedge, a Chinese woman aims to do just that and propel the litigation into a class action suit:
In what could to grow into a class action in US courts, a Chinese woman is suing the Federal Reserve after discovering that the real value of the USD250 she put in an account in 2006 had shrunk by 30%. She claims it was the result of the Fed issuing too much money, and as The South China Morning Post reports, her son Li Zhen, the lawyer, called the lawsuit "litigation for the public good". Alleging "abuse of monopoly in issuing currency," the People's Court of Kunming has yet to rule on the litigants' demand that the Fed cease-and-desist from its quantitative easing policy. While this may seem frivolous, there are some interesting points being made that bear watching, as Li notes, since "the Fed is private institution which enjoys monopoly over the issuing of currency, US Dollar holders can sue it for printing too much money."
Full article here: http://www.zerohedge.com/news/2013-04-22/chinese-sue-fed-mon...
So a Chinese woman attempts to stand up to the Fed... from China. Wonder if she's read Dr Paul's book? Meanwhile, the zombies here on the mainland by and large are perfectly ignorant and content with their overlords continuing to feed the banks their money and all the while erode the value of the paper in their pockets.