Money issued by the Federal Reserve is unconstitutional

G

Gotholic

Well-Known Member
Article 1, Section 10, it is forbidden to "coin money; emit bills of credit; make any thing but gold and silver coin a tender in payments of debts."

The Fed issued the first notes in 1914, which stated: "This Note is Redeemable in Gold on Demand." This was fine.

The text was revised in 1950 to say: "This Note is Redeemable in Lawful Money." This was fine as well since "lawful money" is gold or silver.

However, in 1964, the text was changed to: "This Note is Legal Tender for all Debts, Public and Private." All notes since 1964 are illegal under the U.S. Constitution since they cannot be exchanged for gold or silver.

Interesting, huh?
 
You missed the obvious, Goth. The gov't isn't allowed to issue money other than silver or gold. The fed isn't part of the gov't. It's a private institution charged with a charter. They can issue whatever they want in the way of money.
 
Yeah, I knew that about the Fed, except I did not know that they can circumvent the Constitution because of this.
 
They haven't circumvented anything. Everything's totally on the up and up. It's just that very few people have the slightest clue what the up and up is ... and they're all on the inside profiting from it.
 
A private corporation issuing bearer bonds, with the blessings of government. Nothing illegal or unethical.
 
catocom said:
yep
I'm not clear atm on the date, but it may have been '67
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Then this doesn't apply anymore?
Article 1, Section 10, it is forbidden to "coin money; emit bills of credit; make any thing but gold and silver coin a tender in payments of debts.
 
Haven't you heard? The DC gov. doesn't care about following law themselves.
Laws are just for the little folk.
 
MrBishop said:
Then this doesn't apply anymore?
Article 1, Section 10, it is forbidden to "coin money; emit bills of credit; make any thing but gold and silver coin a tender in payments of debts.
Click to expand...

Yes. Which is the discussion. The Federal Reserve is NOT a government agency.
 
Never was..it's about as Federal as Federal Express.

The COTUS demands a non-gvt agency to make money..thus keeping the gvt at arm's length from the process.
 
MrBishop said:
Never was..it's about as Federal as Federal Express.

The COTUS demands a non-gvt agency to make money..thus keeping the gvt at arm's length from the process.
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Yep ... the US mint. They don't make money anymore.


It should be said that until very recently, British banks all printed their own money. I've got at least 3 different 10 pound notes ... and from different banks. Indeed, one of the really ugly sticking point for bringing the euro to scotland was that the Bank of Scotland would no longer be able to print it's own.
 
I can imagine that this would be difficult - that might be a real bill, a counterfeit or a bill from some bank you don't normally do business with
 
The U.S. mint did directly issue $5 billion of currency that bypassed the Fed under the authority of Kennedy, which could be redeemed for gold and silver in 1963. Johnson recalled these notes after the Kennedy assassination.
 
Gotholic said:
The U.S. mint did directly issue $5 billion of currency that bypassed the Fed under the authority of Kennedy, which could be redeemed for gold and silver in 1963. Johnson recalled these notes after the Kennedy assassination.
Click to expand...


Or so the conspiracy nuts would have it. And the history books.
 
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