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Federal reserve charter expires
Posted:
Tue Nov 20, 2012 9:45 pmby John_doe
Next year. What does congress do?
thoughts?
Re: Federal reserve charter expires
Posted:
Tue Nov 20, 2012 9:47 pmby John_doe
the second bank of the united states plunged the united states into depression intentionally last go around in order to keep power.
fiscal cliff, too ironic for me.
Re: Federal reserve charter expires
Posted:
Tue Nov 20, 2012 10:33 pmby Engineer
Bernacke will go out the door with pats on the back for a job well done.
Re: Federal reserve charter expires
Posted:
Tue Nov 20, 2012 11:05 pmby uthminsta
Key words: out the door.
Re: Federal reserve charter expires
Posted:
Tue Nov 20, 2012 11:07 pmby John_doe
hopefully replaced with nothing.
goodbye income tax too.
Re: Federal reserve charter expires
Posted:
Wed Nov 21, 2012 1:44 amby barrytrot
You guys are just joking right?
They will just renew it, end of story. Or something far worse.
Also, income tax is staying and rising, period.
Re: Federal reserve charter expires
Posted:
Wed Nov 21, 2012 1:59 amby Rosco
Ron Paul out of Office may do things differently than before
Neither Party may like the the Actions
IDC
Hard Core may stand UP
Re: Federal reserve charter expires
Posted:
Wed Nov 21, 2012 2:10 amby barrytrot
Who cares if the dozen or so hard core good guys stand up? The "hard core bad guys" area already up and they rule the day.
Re: Federal reserve charter expires
Posted:
Wed Nov 21, 2012 3:31 amby John_doe
barrytrot wrote:You guys are just joking right?
They will just renew it, end of story. Or something far worse.
Also, income tax is staying and rising, period.
You are probably right. The fiscal cliff is being churned up as a warning to congress and the clueless. I'm guessing congress does what they do best, and folds.
Re: Federal reserve charter expires
Posted:
Wed Nov 21, 2012 8:15 amby Kurr
I can't believe it, this was not even on my radar!
Thanks for bringing it up.
Re: Federal reserve charter expires
Posted:
Wed Nov 21, 2012 8:16 amby IdahoCopper
I recently google'd this topic. I think it was in 1927 when Congress altered the Fed's charter and made it perpetual. The 2013 end date is an urban myth.
Re: Federal reserve charter expires
Posted:
Wed Nov 21, 2012 8:30 amby henrysmedford
From the Federal Reserve website--
http://www.federalreserve.gov/faqs/is-the-federal-reserve-act-going-to-expire.htmIs the Federal Reserve Act going to expire?
No. The Federal Reserve Act of 1913--which established the Federal Reserve as the central bank of the United States--has been amended or altered by the Congress numerous times over the years, but the act has never included an "expiration date" or repeal date. As stated in the law itself, the Federal Reserve Act can only be repealed, amended, or altered by the Congress.
And from --
http://www.federalreserve.gov/aboutthefed/section31.htmFederal Reserve Act
Section 31. Reservation of Right to Amend
1. Reservation of Right to Amend
The right to amend, alter, or repeal this Act is hereby expressly reserved.
[Omitted from U.S. Code. Part of original Federal Reserve Act; not amended.]
Re: Federal reserve charter expires
Posted:
Wed Nov 21, 2012 9:49 amby Copper Catcher
There is no expiration date, or contract! It was voted in, and it's permanent until it's voted out.....This rumor has been circulating around the internet for years....
Re: Federal reserve charter expires
Posted:
Wed Nov 21, 2012 7:23 pmby Mossy
Not that is matters. The fedgov, banking industry, etc, would just keep going as is, without any legal basis.
Who is going to call them on it?
Re: Federal reserve charter expires
Posted:
Wed Nov 21, 2012 7:24 pmby John_doe
the wall street journal reported on it. i know not to trust most mass media outlets, but this is a pretty big error on their behalf if it isnt true.