From Newsgroup: alt.tv.star-trek.tos   
   From Address: kenpisano@gmail.com   
   Subject: Re: A Very Simple Plan to End The Federal Reserve   
      
   On Nov 26, 11:37aam, "meport"  wrote:   
   > Just for the record - there is no such thing as a "federal reserve note".   
   > And for that matter there is no such thing as a "FEDERAL RESERVE".   
   >   
   > 1. aCongress makes a determination of how much money, notes, cash, bonds,   
   > etc needs to be in circulation based on data received from at least 1000   
   > different sources.   
   >   
   > 2. aCongress goes to the Controller of the Currency asks them "how much   
   > money do you have in reserve and how much more needs to be printed?".   
   >   
   > 3. aThe Controller of the Currency totes up the figures and sends an order   
   > to the Bureau of Engraving.   
   >   
   > 4. aThe Bureau of Engraving turns on the printing presses and prints money.   
   >   
   > 5. aThe money is loaded on trucks and sent to the FEDERAL RESERVE BANKS   
   > where it is held for distribution.   
   >   
   > 6. aThe FEDERAL RESERVE BANKS collects old, warn out money from MEMBER BANKS   
   > and sends them new money for distribution, or sends them new money based on   
   > the limits as specified by the Controller of the Currency and Congress.   
   >   
   > Read you 6th Grade Civics Book and maybe this will become more   
   > understandable to you.   
   > --   
   > meport   
   >   
   .You are obviously either a pathetic victim of gross disinformation,   
   or are simply spewing it for a specific, pathetic purpose.  Either   
   way, it's quite pathetic.   
   =-=   
   "Mr. Speaker, I rise to introduce legislation to restore financial   
   stability to America's economy by abolishing the Federal Reserve. I   
   also ask unanimous consent to insert the attached article by Lew   
   Rockwell, president of the Ludwig Von Mises Institute, which explains   
   the benefits of abolishing the Fed and restoring the gold standard,   
   into the record.   
   Since the creation of the Federal Reserve, middle and working-class   
   Americans have been victimized by a boom-and-bust monetary policy. In   
   addition, most Americans have suffered a steadily eroding purchasing   
   power because of the Federal Reserve's inflationary policies. This   
   represents a real, if hidden, tax imposed on the American people.   
   From the Great Depression, to the stagflation of the seventies, to the   
   burst of the dotcom bubble last year, every economic downturn suffered   
   by the country over the last 80 years can be traced to Federal Reserve   
   policy. The Fed has followed a consistent policy of flooding the   
   economy with easy money, leading to a misallocation of resources and   
   an artificial "boom" followed by a recession or depression when the   
   Fed-created bubble bursts.   
   With a stable currency, American exporters will no longer be held   
   hostage to an erratic monetary policy. Stabilizing the currency will   
   also give Americans new incentives to save as they will no longer have   
   to fear inflation eroding their savings. Those members concerned about   
   increasing America's exports or the low rate of savings should be   
   enthusiastic supporters of this legislation.   
   Though the Federal Reserve policy harms the average American, it   
   benefits those in a position to take advantage of the cycles in   
   monetary policy. The main beneficiaries are those who receive access   
   to artificially inflated money and/or credit before the inflationary   
   effects of the policy impact the entire economy. Federal Reserve   
   policies also benefit big spending politicians who use the inflated   
   currency created by the Fed to hide the true costs of the welfare-   
   warfare state. It is time for Congress to put the interests of the   
   American people ahead of the special interests and their own appetite   
   for big government.   
   Abolishing the Federal Reserve will allow Congress to reassert its   
   constitutional authority over monetary policy. The United States   
   Constitution grants to Congress the authority to coin money and   
   regulate the value of the currency. The Constitution does not give   
   Congress the authority to delegate control over monetary policy to a   
   central bank. Furthermore, the Constitution certainly does not empower   
   the federal government to erode the American standard of living via an   
   inflationary monetary policy.   
   In fact, Congress' constitutional mandate regarding monetary policy   
   should only permit currency backed by stable commodities such as   
   silver and gold to be used as legal tender. Therefore, abolishing the   
   Federal Reserve and returning to a constitutional system will enable   
   America to return to the type of monetary system envisioned by our   
   nation's founders: one where the value of money is consistent because   
   it is tied to a commodity such as gold. Such a monetary system is the   
   basis of a true free-market economy.   
   In conclusion, Mr. Speaker, I urge my colleagues to stand up for   
   working Americans by putting an end to the manipulation of the money   
   supply which erodes Americans' standard of living, enlarges big   
   government, and enriches well-connected elites, by cosponsoring my   
   legislation to abolish the Federal Reserve."   
   The Honorable Congressman Ron Paul   
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