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Can The Government "Buy Back" the Fed?

Submitted by Chalcedonite on Sun, 09/21/2008 - 01:59
in
0 votes

I think we should Digg this and ACT!!!!

lewrockwell.com — I recall reading a few years ago that part of the original Federal Reserve
legislation allowed that the congress could, at its option, buy back the Fed
for a sum of 850 million dollars. (At this point a rather paltry sum.)

If true, it would seem that all that lovely interest they collect would land
in the U.S. Treasury and could be applied to paying off the national
debt.(That is if it's true)

I therefore, somewhat naively inquire;

1. Is it true?

2. If true, does the idea deserve some loud drum beating?"

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If a thief steals

Submitted by dalesvp on Sun, 09/21/2008 - 09:52.

your car would you give him credibility and legitimacy by buying back from him what is and has been yours all along?

Federal Reserve Act

Submitted by Republicae on Sun, 09/21/2008 - 08:40.

Section 7:

Use of Earnings Transferred to the Treasury

(b) The net earnings derived by the United States from Federal reserve banks shall, in the discretion of the Secretary, be used to supplement the gold reserve held against outstanding United States notes, or shall be applied to the reduction of the outstanding bonded indebtedness of the United States under regulations to be prescribed by the Secretary of the Treasury. Should a Federal reserve bank be dissolved or go into liquidation, any surplus remaining, after the payment of all debts, dividend requirements as hereinbefore provided, and the par value of the stock, shall be paid to and become the property of the United States and shall be similarly applied.

Section 30. Saving Clause

If any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.

Section 31: Reservation of Right to Amend

The right to amend, alter, or repeal this Act is hereby expressly reserved.

“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.

—

http://militantjeffersonian.com

"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes

There seems to be this rather wide chasm

Submitted by BigT on Sun, 09/21/2008 - 08:26.

between what is "possible to do", and what is "going to be done".

It matters not if it is "possible", if the criminals running the asylum are not "going to do it".

JFK tried,,,,,

Submitted by doctor011 on Sun, 09/21/2008 - 04:53.

By installing compeating currancy the united states note. Many believe it got him killed us notes 2 & 5 dollar bills were issued 10s &20s printed . The first offical business LBJ did upon being sworn in was to distroy the 10s and 20s . So what was formost on LBJ mind and why?

—

If voting could really change things,
it would be illegal. Here is hoping for change!

We print up a single

Submitted by ArmorOfChrist777 on Sun, 09/21/2008 - 03:47.

9 trillion dollar bill and give it to Rothschild. Debt paid.

Buy it back?

Submitted by fanofwalt on Sun, 09/21/2008 - 02:52.

To buy back implies that Congress sold it off in the first place.

Record of the bill of sale is...where?

How much was the original transaction for? $850M or some other figure?

Loose ends need tying up.

We should not have to buy it back.

Submitted by wolfangel on Sun, 09/21/2008 - 02:42.

They have robbed us of trillions of dollars since 1913.The way I look at it,they owe us!

close em down,

Submitted by meekandmild on Sun, 09/21/2008 - 07:55.

put em jail for fraud and counterfeiting.

I have a better idea.

Submitted by e_goldstein on Sun, 09/21/2008 - 02:02.

How about we, the people of the united states of america, reduce the buildings to dust and leave the bankers swinging by their necks from trees.

—

--------------------------------
"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
----------------------------

Close

Submitted by Just a guy on Sun, 09/21/2008 - 07:09.

But I think we should impale them on pikes at all the entrances to the capitol. We could put up a few empty pikes as well for good measure.

I second this

Submitted by RideTheDirt on Sun, 09/21/2008 - 03:55.

^

I think you are right! That

Submitted by Chalcedonite on Sun, 09/21/2008 - 02:28.

I think you are right! That is a better idea.

—

I added a Proud Supporter of Ron Paul button to my homeschool "McGuffey" site!
http://www.mcguffeysonlinetutor.com/public/main.cfm

Can we have a public stoning first?

Submitted by pegarizona on Sun, 09/21/2008 - 02:23.

.
I have attached a Golden Fema Ticket for those of you who vote for McCain.
__________________________
http://i537.photobucket.com/albums/ff338/Bluemoon_Peg/FEMA_G...

no, no reason to relieve their suffering.

Submitted by e_goldstein on Sun, 09/21/2008 - 02:28.

Oh, you mean with rocks ;-)

—

--------------------------------
"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
----------------------------

Well... we could get stoned, before we throw the rocks.

Submitted by pegarizona on Sun, 09/21/2008 - 02:36.

See, how far we get with a little planning. ; )

.
I have attached a Golden Fema Ticket for those of you who vote for McCain.
__________________________
http://i537.photobucket.com/albums/ff338/Bluemoon_Peg/FEMA_G...

We might miss if we're stoned.

Submitted by IamVoting4RonPaul on Sun, 09/21/2008 - 02:37.

___________

Lisa C.

Coming Soon: www.RevolutionSingles.com
Tell us what your perfect singles site would look like!
Email and give us your ideas -- RevolutionSingles@me.com

—

Ron Paul "Sign Wave Across the USA" -- November 5th!

We will pass out helmets to the throwers.

Submitted by pegarizona on Sun, 09/21/2008 - 02:40.

Glass half full.... : )

.

I have attached a Golden Fema Ticket for those of you who vote for McCain.
__________________________
http://i537.photobucket.com/albums/ff338/Bluemoon_Peg/FEMA_G...

Hot and smart -- here she is boys -- Catch of the Night!

Submitted by IamVoting4RonPaul on Sun, 09/21/2008 - 02:43.

___________

Lisa C.

Coming Soon: www.RevolutionSingles.com
Tell us what your perfect singles site would look like!
Email and give us your ideas -- RevolutionSingles@me.com

—

Ron Paul "Sign Wave Across the USA" -- November 5th!

~Shadchen~ There she goes again.

Submitted by pegarizona on Sun, 09/21/2008 - 02:51.

I have attached a Golden Fema Ticket for those of you who vote for McCain.
__________________________
http://i537.photobucket.com/albums/ff338/Bluemoon_Peg/FEMA_G...

Just want to make sure you're appreciated.

Submitted by IamVoting4RonPaul on Sun, 09/21/2008 - 02:55.

Shalom.

___________

Lisa C.

Coming Soon: www.RevolutionSingles.com
Tell us what your perfect singles site would look like!
Email and give us your ideas -- RevolutionSingles@me.com

—

Ron Paul "Sign Wave Across the USA" -- November 5th!

Well said

Submitted by djdevon3 on Sun, 09/21/2008 - 02:21.

The tree of liberty becomes exponentially thirsty with every injustice.

I like your idea a lot

Submitted by rprevolutionist on Sun, 09/21/2008 - 02:13.

I like your idea a lot better, E
My question is: Where have all the snipers gone?