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Federal Reserve's 100 Year Charter Ends the SAME DAY as the Mayan Calendar ENDS | |
| Anonymous User ID: 750018  United States07/28/2010 11:41 AM Report Abusive Post Report Copyright Violation | there was a thread a few months ago about converting your frn's to coins but can't find it now Quoting: Anonymous Coward 1044765I recall a few threads like that. Premise was coins were put out by the US Mint (real government) and FRNs were about to be TP when the charter expired. Also, during currency devaluations in other countries they don't bother to recall the coins. Too much trouble and most people don't have very many anyway. Think about it: if 5 old dollars are exchanged for one new dollar and you have $5 worth of coins, you can still get $5 worth of goods after the exchange period by using the coins compared to only $1 worth of goods using the new dollars. Of course once you spend all your coins you are back at the new basis but it does give an edge in the beginning to those who have coins stored. Use them wisely. |
| Anonymous Coward User ID: 995876 United States07/28/2010 11:42 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 995876 United States07/28/2010 11:43 AM Report Abusive Post Report Copyright Violation | So the FEDERAL RESERVE ends in 2 years? This may be the biggest event in our nation's history... Quoting: Anonymous Coward 1018964For as this date is more well known as the end of the ancient Mayans long count calendar (and ending of the World?), it is also the date the Federal Reserve’s 99-year old charter to control the American economy ends. And, most importantly, for it to be renewed it would require not only a majority vote in both houses [Senate and House of Representatives] of the US Congress, but also a three-quarter majority vote by every one of their 50 States’ legislative bodies. Do you have a link for this? So far I haven't seen any documentation showing what you're saying is true about it's end date. |
Bagatell  User ID: 768577  Spain07/28/2010 11:44 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 1043058 United States07/28/2010 11:47 AM Report Abusive Post Report Copyright Violation | |
| Brwnstown User ID: 897397 United States07/28/2010 11:56 AM Report Abusive Post Report Copyright Violation | We either repeal it or live with it until the end....... |
| Anonymous Coward User ID: 1043058 United States07/28/2010 12:05 PM Report Abusive Post Report Copyright Violation | Just a guess here but since the federal reserve act was signed into law and congress gave away their right to our monetary system I dont think it ever expires...... Quoting: BrwnstownWe either repeal it or live with it until the end....... No, there is a charter that has to be renewed. I read over the Fed Reserve Act itself and didn't see dates. I have been unable to find the charter but I do know it exists. It is mentioned frequently in the different articles I've been reading but can't find a link to the charter itself. |
| Brwnstown User ID: 897397 United States07/28/2010 01:28 PM Report Abusive Post Report Copyright Violation | Just a guess here but since the federal reserve act was signed into law and congress gave away their right to our monetary system I dont think it ever expires...... Quoting: Anonymous Coward 1043058We either repeal it or live with it until the end....... No, there is a charter that has to be renewed. I read over the Fed Reserve Act itself and didn't see dates. I have been unable to find the charter but I do know it exists. It is mentioned frequently in the different articles I've been reading but can't find a link to the charter itself. The Act The plan adopted in the original Federal Reserve Act called for the creation of a System that contained both private and public entities. There were to be at least eight, and no more than 12, private regional Federal reserve banks (12 were established) each with its own branches, board of directors and district boundaries (Sections 2, 3, and 4) and the System was to be headed by a seven member Federal Reserve Board made up of public officials appointed by the President and confirmed by the Senate (strengthened and renamed in 1935 as the Board of Governors of the Federal Reserve System with the Secretary of the Treasury and the Comptroller of the Currency dropped from the Board - Section 10). Also created as part of the Federal Reserve System was a 12 member Federal Advisory Committee (Section 12) and a single new United States currency, the Federal Reserve Note (Section 16). Congress decided in the Federal Reserve Act that all nationally chartered banks were required to become members of the Federal Reserve System. It requires them to purchase specified non-transferable stock in their regional Federal reserve bank and to set aside a stipulated amount of non-interest bearing reserves with their respective reserve bank (since 1980 all depository institutions have been required to set aside reserves with the Federal Reserve and be entitled to certain Federal Reserve services - Sections 2 and 19). State chartered banks have the option of becoming members of the Federal Reserve System and to thus be supervised, in part, by the Federal Reserve (Section 9). Member banks are entitled to have access to discounted loans at the discount window in their respective reserve bank, to a 6% annual dividend in their Federal reserve stock and to other services (Sections 13 and 7). The Act also permits Federal reserve banks to act as fiscal agents for the United States government (Section 15).[9] In other words the member banks have to be chartered into the federal reserve system which is law... It is not going away until it is repealed....... Last Edited by Brwnstown on 07/28/2010 01:30 PM |
| Anonymous Coward User ID: 1051288 United States07/28/2010 02:05 PM Report Abusive Post Report Copyright Violation | if you've got FRN's in your back pocket than you are considered a federal agent/bank. Everytime you openly endorse a paycheck and take the TPTB's currency you are voting in favor for the Federal Reserve(private creditors)system. law.cornell.com? click link to US Code. Search for Title 12 section 411. Read it. particular the remedy of right to redeem lawful money. A sovereign(creditor) REDEEMS LAWFUL MONEY UPON DEMAND as the remedy within the act states. this is how you own material items without a 3rd party interest/lien from TPTB. How can you own anything if you've used the kings money to by it? That would give them the first party secured interest in anything. oh wait...you do not own your car. just carry a certificate of title...no manufacturer certificate of origin. Oh wait....you do not own you house. You just have a deed of trust that says your hold title as a "tennant". They appreciate you takin care of their property and paying their taxes for them though. oh wait. you claim all this alleged money as yours and declare it on 1040 as "income" subjecting yourselves to "income" taxes when labor is not taxable. shills, learn to operate in commerce correctly. You are bonding yourselves to slavedom via debt. the system is not inherenly evil. it is just a mirror that reflects our ability to know who we are and govern ourselves accordingly. we are who we've been wating for. It is a war....against our own ignorance. My people will be destroyed for want of knowledge. and No you do not receive a different currency or anythingy like that. Do to HJR 192 there is no money backed by real value. what you get is the record to prove that you made the demand wich changes the status of the currency in a court of record. No if you muck up and end up in there admiralty court you have the evidence to support your claims. TPTB: why have you not paid your income tax. You: i have no "income"....see. Right here, see.....i was compensated equally in my exchange and redeemed it in lawful money, see.... TPTB: carry on. In the words of Rockefeller: "Own nothing...Control Everything". Debtors own. Creditors CONTROL Namaste |
| Anonymous Coward User ID: 1043058 United States07/28/2010 02:12 PM Report Abusive Post Report Copyright Violation | Just a guess here but since the federal reserve act was signed into law and congress gave away their right to our monetary system I dont think it ever expires...... Quoting: BrwnstownWe either repeal it or live with it until the end....... No, there is a charter that has to be renewed. I read over the Fed Reserve Act itself and didn't see dates. I have been unable to find the charter but I do know it exists. It is mentioned frequently in the different articles I've been reading but can't find a link to the charter itself. ------------------------------------------------------- The Act The plan adopted in the original Federal Reserve Act called for the creation of a System that contained both private and public entities. There were to be at least eight, and no more than 12, private regional Federal reserve banks (12 were established) each with its own branches, board of directors and district boundaries (Sections 2, 3, and 4) and the System was to be headed by a seven member Federal Reserve Board made up of public officials appointed by the President and confirmed by the Senate (strengthened and renamed in 1935 as the Board of Governors of the Federal Reserve System with the Secretary of the Treasury and the Comptroller of the Currency dropped from the Board - Section 10). Also created as part of the Federal Reserve System was a 12 member Federal Advisory Committee (Section 12) and a single new United States currency, the Federal Reserve Note (Section 16). Congress decided in the Federal Reserve Act that all nationally chartered banks were required to become members of the Federal Reserve System. It requires them to purchase specified non-transferable stock in their regional Federal reserve bank and to set aside a stipulated amount of non-interest bearing reserves with their respective reserve bank (since 1980 all depository institutions have been required to set aside reserves with the Federal Reserve and be entitled to certain Federal Reserve services - Sections 2 and 19). State chartered banks have the option of becoming members of the Federal Reserve System and to thus be supervised, in part, by the Federal Reserve (Section 9). Member banks are entitled to have access to discounted loans at the discount window in their respective reserve bank, to a 6% annual dividend in their Federal reserve stock and to other services (Sections 13 and 7). The Act also permits Federal reserve banks to act as fiscal agents for the United States government (Section 15).[9] In other words the member banks have to be chartered into the federal reserve system which is law... It is not going away until it is repealed....... There is the act itself which "legalizes" the unconstitutional entity but there is also a charter which does expire and has to be renewed. I do know this- I have read about it many times today and in the past. It exists, it's the "contract". I just can't find the actual charter anywhere to confirm the dates. Maybe I'll email Ron Paul or ask on the rp forums. :) |
| Anonymous Coward User ID: 1050962  China07/28/2010 02:25 PM Report Abusive Post Report Copyright Violation | So the FEDERAL RESERVE ends in 2 years? This may be the biggest event in our nation's history... Quoting: nonrof1For as this date is more well known as the end of the ancient Mayans long count calendar (and ending of the World?), it is also the date the Federal Reserve’s 99-year old charter to control the American economy ends. And, most importantly, for it to be renewed it would require not only a majority vote in both houses [Senate and House of Representatives] of the US Congress, but also a three-quarter majority vote by every one of their 50 States’ legislative bodies. Do you have a link for this? So far I haven't seen any documentation showing what you're saying is true about it's end date. +1 It's funny how people around here believe anything without any sort of proof. OP could have at least provided a link to some non-credible blog about this. But I guess a sensational thread title is enough around here. |
| Brwnstown User ID: 897397 United States07/28/2010 02:33 PM Report Abusive Post Report Copyright Violation | Just a guess here but since the federal reserve act was signed into law and congress gave away their right to our monetary system I dont think it ever expires...... Quoting: Anonymous Coward 1043058We either repeal it or live with it until the end....... No, there is a charter that has to be renewed. I read over the Fed Reserve Act itself and didn't see dates. I have been unable to find the charter but I do know it exists. It is mentioned frequently in the different articles I've been reading but can't find a link to the charter itself. ------------------------------------------------------- The Act The plan adopted in the original Federal Reserve Act called for the creation of a System that contained both private and public entities. There were to be at least eight, and no more than 12, private regional Federal reserve banks (12 were established) each with its own branches, board of directors and district boundaries (Sections 2, 3, and 4) and the System was to be headed by a seven member Federal Reserve Board made up of public officials appointed by the President and confirmed by the Senate (strengthened and renamed in 1935 as the Board of Governors of the Federal Reserve System with the Secretary of the Treasury and the Comptroller of the Currency dropped from the Board - Section 10). Also created as part of the Federal Reserve System was a 12 member Federal Advisory Committee (Section 12) and a single new United States currency, the Federal Reserve Note (Section 16). Congress decided in the Federal Reserve Act that all nationally chartered banks were required to become members of the Federal Reserve System. It requires them to purchase specified non-transferable stock in their regional Federal reserve bank and to set aside a stipulated amount of non-interest bearing reserves with their respective reserve bank (since 1980 all depository institutions have been required to set aside reserves with the Federal Reserve and be entitled to certain Federal Reserve services - Sections 2 and 19). State chartered banks have the option of becoming members of the Federal Reserve System and to thus be supervised, in part, by the Federal Reserve (Section 9). Member banks are entitled to have access to discounted loans at the discount window in their respective reserve bank, to a 6% annual dividend in their Federal reserve stock and to other services (Sections 13 and 7). The Act also permits Federal reserve banks to act as fiscal agents for the United States government (Section 15).[9] In other words the member banks have to be chartered into the federal reserve system which is law... It is not going away until it is repealed....... There is the act itself which "legalizes" the unconstitutional entity but there is also a charter which does expire and has to be renewed. I do know this- I have read about it many times today and in the past. It exists, it's the "contract". I just can't find the actual charter anywhere to confirm the dates. Maybe I'll email Ron Paul or ask on the rp forums. :) If that were true then you wouldn't have this: List of members of the Board of Governors The current members of the Board of Governors are as follows:[64] Commissioner Entered office Term expires Ben Bernanke(Chair) February 1, 2006 January 31, 2020 January 31, 2014 (as Chair) How is this imaginary charter going to end in 2012 when Bernanke's term doesn't end as chairman until 2014? and he will still be on the board until 2020.... Last Edited by Brwnstown on 07/28/2010 02:36 PM |
| Anonymous Coward User ID: 1040210 United States07/28/2010 07:26 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 1043058 United States07/29/2010 10:04 PM Report Abusive Post Report Copyright Violation | Just a guess here but since the federal reserve act was signed into law and congress gave away their right to our monetary system I dont think it ever expires...... Quoting: BrwnstownWe either repeal it or live with it until the end....... No, there is a charter that has to be renewed. I read over the Fed Reserve Act itself and didn't see dates. I have been unable to find the charter but I do know it exists. It is mentioned frequently in the different articles I've been reading but can't find a link to the charter itself. ------------------------------------------------------- The Act The plan adopted in the original Federal Reserve Act called for the creation of a System that contained both private and public entities. There were to be at least eight, and no more than 12, private regional Federal reserve banks (12 were established) each with its own branches, board of directors and district boundaries (Sections 2, 3, and 4) and the System was to be headed by a seven member Federal Reserve Board made up of public officials appointed by the President and confirmed by the Senate (strengthened and renamed in 1935 as the Board of Governors of the Federal Reserve System with the Secretary of the Treasury and the Comptroller of the Currency dropped from the Board - Section 10). Also created as part of the Federal Reserve System was a 12 member Federal Advisory Committee (Section 12) and a single new United States currency, the Federal Reserve Note (Section 16). Congress decided in the Federal Reserve Act that all nationally chartered banks were required to become members of the Federal Reserve System. It requires them to purchase specified non-transferable stock in their regional Federal reserve bank and to set aside a stipulated amount of non-interest bearing reserves with their respective reserve bank (since 1980 all depository institutions have been required to set aside reserves with the Federal Reserve and be entitled to certain Federal Reserve services - Sections 2 and 19). State chartered banks have the option of becoming members of the Federal Reserve System and to thus be supervised, in part, by the Federal Reserve (Section 9). Member banks are entitled to have access to discounted loans at the discount window in their respective reserve bank, to a 6% annual dividend in their Federal reserve stock and to other services (Sections 13 and 7). The Act also permits Federal reserve banks to act as fiscal agents for the United States government (Section 15).[9] In other words the member banks have to be chartered into the federal reserve system which is law... It is not going away until it is repealed....... There is the act itself which "legalizes" the unconstitutional entity but there is also a charter which does expire and has to be renewed. I do know this- I have read about it many times today and in the past. It exists, it's the "contract". I just can't find the actual charter anywhere to confirm the dates. Maybe I'll email Ron Paul or ask on the rp forums. :) If that were true then you wouldn't have this: List of members of the Board of Governors The current members of the Board of Governors are as follows:[64] Commissioner Entered office Term expires Ben Bernanke(Chair) February 1, 2006 January 31, 2020 January 31, 2014 (as Chair) How is this imaginary charter going to end in 2012 when Bernanke's term doesn't end as chairman until 2014? and he will still be on the board until 2020.... Their terms have nothing to do with a charter (if it exists). The charter is the terms of the contract between the government and the CORPORATION for services and should be a part of the original act (or an amendment maybe?). In the past, for example, Andrew Jackson refused to renew their charter. He killed the banks- for awhile anyway. From what I've read it seems if there was a charter when the banks were legalized again that it has been disregarded and/or buried. I've read in a couple places that the original charter for the Fed Reserve expired in 20 years under Roosevelt but there is nothing that shows he did or didn't? Regardless, I think if anything they had 20 years, not 100, which makes the OP wrong (as cool as the thought was). Sec. 341 Second. To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law. [link to news.goldseek.com] That's as much as I could find on having to renew a charter. |
| crazycanuck User ID: 1000602  Canada07/29/2010 11:42 PM Report Abusive Post Report Copyright Violation | Well, well, well.....no wonder all the hype about 2012 being TEOTWAWKI. BWAHAHAHAHA! It's the end of THEIR world, that's why they are ramping up the ass-raping at the moment. Wow, thanks for that info, it was like having "the other shoe drop."  |
| ShadowDancer User ID: 287857 United States07/31/2010 01:58 AM Report Abusive Post Report Copyright Violation | Yeah ,but do not reinstate the charter. Quoting: Anonymous Coward 975529They would have a better chance of walking on water... In fact, I would not be that surprised to see them fighting and struggling to hold onto their "charter" for another few years If the masses get hungry and thirsty enough-but OTOH if many stand strong-beyond understanding they might have to leave early-or stay hidden-as they know once the masses see them-more WILL KNOW WHAT THEY HAVE DONE AGAINST THE WORLD and they will not escape from all the CARNAGE they have conspired to create-not by a long shot.  ************************************ fortitudo et spes ************************************ When Japan happened I responded: "The Excrement Has Impacted the Rotary Oscillator." and clearly it has. Thread: The Excrement Is Striking the Rotary Oscillator +++++++++++++++ "Ego et Dominus sumus amici" +++++++++++++++ Ego et mea umbra +++++++++++++++ 'Man does not have the right to develop his own mind. This kind of liberal orientation has great appeal. We must electrically control the brain. Some day armies and generals will be controlled by electric stimulation of the brain.’ - U.S. government mind manipulator, Dr. Jose Delgado, Congressional Record, No. 262E, Vol. 118, 1974 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Realeyesrealizereallies. C. Thread: GIRD uP as GRID Collapses Thread: Eugenics 101 (Page 27) Thread: Frankenfoods for YOU (Page 2) Thread: I Do Not Consent Thread: FOOD Thread: Cern Power___Colder than Space Thread: Hempilation Compilation Contemplation Thread: Harmonics and Healing (Page 35) Thread: Sarah's Nightmare (Page 10) Thread: Destination Maccabees Thread: Let's Play a GAME Thread: Throat Singing |
| Anonymous Coward User ID: 357364 United States07/31/2010 02:01 AM Report Abusive Post Report Copyright Violation | |
| ShadowDancer User ID: 287857 United States07/31/2010 02:04 AM Report Abusive Post Report Copyright Violation | there was a thread a few months ago about converting your frn's to coins but can't find it now Quoting: Anonymous 750018I recall a few threads like that. Premise was coins were put out by the US Mint (real government) and FRNs were about to be TP when the charter expired. Also, during currency devaluations in other countries they don't bother to recall the coins. Too much trouble and most people don't have very many anyway. Think about it: if 5 old dollars are exchanged for one new dollar and you have $5 worth of coins, you can still get $5 worth of goods after the exchange period by using the coins compared to only $1 worth of goods using the new dollars. Of course once you spend all your coins you are back at the new basis but it does give an edge in the beginning to those who have coins stored. Use them wisely. The important point I recall from the thread I believe you are discussing Each citizen can do this but have no more than $3000 in coin per person- As the bills will be worthless paper, but based on actual metals in coins, they would still hold value... ************************************ fortitudo et spes ************************************ When Japan happened I responded: "The Excrement Has Impacted the Rotary Oscillator." and clearly it has. Thread: The Excrement Is Striking the Rotary Oscillator +++++++++++++++ "Ego et Dominus sumus amici" +++++++++++++++ Ego et mea umbra +++++++++++++++ 'Man does not have the right to develop his own mind. This kind of liberal orientation has great appeal. We must electrically control the brain. Some day armies and generals will be controlled by electric stimulation of the brain.’ - U.S. government mind manipulator, Dr. Jose Delgado, Congressional Record, No. 262E, Vol. 118, 1974 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Realeyesrealizereallies. C. Thread: GIRD uP as GRID Collapses Thread: Eugenics 101 (Page 27) Thread: Frankenfoods for YOU (Page 2) Thread: I Do Not Consent Thread: FOOD Thread: Cern Power___Colder than Space Thread: Hempilation Compilation Contemplation Thread: Harmonics and Healing (Page 35) Thread: Sarah's Nightmare (Page 10) Thread: Destination Maccabees Thread: Let's Play a GAME Thread: Throat Singing |
| Anonymous Coward User ID: 847380 United States07/31/2010 02:09 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 1059278  Hong Kong08/05/2010 06:15 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 900358 United States08/22/2010 03:21 PM Report Abusive Post Report Copyright Violation | |
| reader User ID: 1219086 Canada01/05/2011 11:47 PM Report Abusive Post Report Copyright Violation | This not true. Under Chapter IX of Federal Reserve Act from Dec 1913 and Congress Act July 12 1882, Federal Reserve is a corporation and as a corporation exists for period of 20 years. Every 20 years FR has to apply for Extension of Corporate Existence to the Comptroller of The Currency Office. Present period expire on Dec. 23/2013. So far every 20 years Extension has been issued. |
| Anonymous Coward User ID: 1079725 United States01/06/2011 12:02 AM Report Abusive Post Report Copyright Violation | |
| truthnews.info User ID: 1321030 United States03/30/2011 05:34 PM Report Abusive Post Report Copyright Violation | The Federal Reserve Charter does not contain an expiration date for various reasons. However, the charter is subject to revocation by Congress. [link to wiki.answers.com] |
| maykme User ID: 1289656 United States04/17/2011 08:27 AM Report Abusive Post Report Copyright Violation | The Federal Reserve Charter does not contain an expiration date for various reasons. However, the charter is subject to revocation by Congress. Quoting: truthnews.info 1321030[link to wiki.answers.com] Something seems to have happened after the false flag bankrupt/shutdown of government on April 9, 2011. That same week, the Federal Reserve had to release papers, under the Freedom of Information Act, as ordered by the Supreme Court. After reviewing everyone who utilized the discount window that were not part of the charter, I would be surprised if Congress repealed their charter. This is a different Congress. Something is different. It feels like all that doom and gloom about one path were have been heading in, is no longer true, and we have changed paths to something more in the Light. We still see people holding on to last years news and intel, but after April 9, 2011, we changed directions. That's what it feels like to me. I love you no matter what you choose to do. |
| maykme User ID: 1289656 United States04/17/2011 08:29 AM Report Abusive Post Report Copyright Violation | After reviewing everyone who utilized the discount window that were not part of the charter, I would be surprised if Congress repealed their charter. Quoting: maykme 1289656Correction: After reviewing everyone who utilized the discount window; that were not part of the charter, I would not be surprised if Congress repealed their charter. |
| Anonymous Coward User ID: 1342506 United States04/17/2011 08:41 AM Report Abusive Post Report Copyright Violation | |
| Sammie User ID: 1256469 United States04/17/2011 08:53 AM Report Abusive Post Report Copyright Violation | i heard about this a while back. For some reason I thought I had read something that back it up but I will have to wade through a ton of saved files to find out if my memory serves me correctly. I save everything, web archives, screen shots, pdf's. I started doing this little over a year ago when I noticed bookmarked articles had been edited, altered or removed all together. SO needless to say, I have a ton of saved material. I will check though. So here is my question: assuming that (and its a BIG assumption) the charter is not renewed, will that pave the way for the another looting of the public's gold (and perhaps silver)? The federal reserve charter, as I understand it, states that all debts owed to them are to be paid in real actual money....not fed notes. Fed notes are just a representation of debt owed to them. So will this the be a demand of real payment? Just a thought "Beware lest you lose the substance by grasping at the shadow". ~Aesop "Once in a dream I saw a snake swallowing its own tail, it swallowed and swallowed until it got halfway round, and there it stopped and there it stayed, it was stuffed with its own self. Some fix, that. We only have ourselves to go on, and it’s enough…" -Charles Bukowski "Grasping at things can only yield one of two results: Either the thing you are grasping at disappears, or you yourself disappear. It is only a matter of which occurs first." -Goenka |
| maykme User ID: 1289656 United States04/17/2011 11:33 AM Report Abusive Post Report Copyright Violation | link?? Quoting: Anonymous Coward 1342506Link discussing release of the documents regarding the discount window [link to www.bloomberg.com] /news/2011-03-31/ federal-reserve-releases-discount-window-loan-records-under-court-order.html It's all one line, no spaces. |
| Anonymous Coward User ID: 9531790  Switzerland01/25/2012 01:18 AM Report Abusive Post Report Copyright Violation | This not true. Under Chapter IX of Federal Reserve Act from Dec 1913 and Congress Act July 12 1882, Federal Reserve is a corporation and as a corporation exists for period of 20 years. Quoting: reader 1219086 Every 20 years FR has to apply for Extension of Corporate Existence to the Comptroller of The Currency Office. Present period expire on Dec. 23/2013. So far every 20 years Extension has been issued. Incorrect. Although the Fed Reserve act of 1913(P.L. 63-43, 38 STAT. 251, 12 USC 221) did originally have a 20 yr charter, this was changed by the Act of Feb. 25, 1927 (44 Stat. 1234) as follows: Second. To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law. (12 U.S.C. § 341) There was no 100 or 99 yr charter and the Fed will not "expire" unless Congress votes to dissolve it. With how far entrenched the Fed is in the system, it would be nearly impossible to just dissolve it overnight. Any regulations and oversight the fed currently has would have to be carefully rewritten in order to repeal it and or reassign it to the appropriate departments (ie Treasury, SEC or IRS.) |
