pull down to refresh

31 sats \ 2 replies \ @Bell_curve 22 Jul \ on: POWER TO COIN AND REGULATE MONEY lol
The Federal Reserve Act in 1913 was unconstitutional or extra constitutional
It’s a very strange structure
write
preview
14 sats \ 1 reply \ @supratic OP 22 Jul
I found it a copy of the original act (look's like) and the constitution. Just to save some time... which part precisely shall I look at that was/is unconstitutional or extra constitutional?
reply
0 sats \ 0 replies \ @Bell_curve 22 Jul
Using AI
The constitutionality of the Federal Reserve is a debated topic, with arguments on both sides. Here are the key points to consider:
Arguments that the Federal Reserve is unconstitutional:
  1. The U.S. Constitution does not explicitly grant the government power to create a central bank[1].
  2. Some argue it violates the Constitution by being too closely tied to the private sector and lacking transparency[1].
  3. Critics contend that monetary policy decisions should be made by Congress, not an independent entity[4].
Arguments that the Federal Reserve is constitutional:
  1. The independent structure of the Federal Reserve has historical precedent in the Founding-era Sinking Fund Commission, which conducted similar operations[2].
  2. The Federal Reserve System is owned by member banks, not private individuals, and is considered an independent government entity[1].
  3. The Board of Governors is appointed by the President and confirmed by the Senate, maintaining a relationship with the government[1].
  4. Congress has the authority to regulate or abolish the Federal Reserve if desired[4].
While there are constitutional challenges to specific aspects of the Federal Reserve's structure, such as the participation of private citizens on the Federal Open Market Committee[3], the overall concept of a central bank conducting monetary policy is not universally considered unconstitutional. The debate largely centers on the extent of the Fed's independence and its relationship to the three branches of government.
Sources [1] Why Do Some People Claim the Federal Reserve Is Unconstitutional? https://www.investopedia.com/ask/answers/082115/why-do-some-people-claim-federal-reserve-unconstitutional.asp [2] "Is the Federal Reserve Constitutional?" by Christine Kexel Chabot https://scholarship.law.nd.edu/ndlr/vol96/iss1/1/ [3] Is the Federal Reserve Constitutional? - Law & Liberty https://lawliberty.org/forum/is-the-federal-reserve-constitutional/ [4] How Does the Federal Reserve Fit into Our Constitutional Order? https://fedsoc.org/commentary/fedsoc-blog/how-does-the-federal-reserve-fit-into-our-constitutional-order [5] [PDF] Is the Federal Reserve Constitutional? An Originalist Argument for ... https://scholarship.law.nd.edu/cgi/viewcontent.cgi?article=4925&context=ndlr
reply