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[–]yellowsnow2[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

“Monetizing debt is a closely coordinated effort between the White House, Federal Reserve, Treasury Department, Congress, Big Banks, and Wall Street,” Rep. Massie said in his press release Thursday. “Through this process, retirees see their savings evaporate due to the actions of a central bank pursuing inflationary policies that benefit the wealthy and connected. If we really want to reduce inflation, the most effective policy is to end the Federal Reserve.”

Former Congressman Ron Paul had introduced The Federal Reserve Board Abolition Act in 1999, the last time it was introduced was 2013.

As no fan of the Fed, Rep. Massie also introduced H.R. 24, the Federal Reserve Transparency Act of 2023, an act that Rep. Massie also introduced in 2015, which was aimed at auditing the central bank.

[–]binaryblob 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (3 children)

It's more useful to link to https://massie.house.gov/uploadedfiles/endthefed.pdf. I read it, but it will never pass, because it seems to have been written by someone with an intellectual disability, which is what anyone with a brain would see in 30 seconds.

If you look at the supporters of the bill, it seems like this one is sponsored by the Kremlin. I think there are ways to abolish the Fed and perhaps there might be reasons to get rid of it (for example, its control over interest rates is somewhat insane and all the fraud that entails).

The power of the Fed has already been diminished in some way. If the supporters of this bill actually believed in it, they would just not hold any USD denominated assets, but they would just pick a country that they liked that worked according to their principles.

For example Switzerland would probably meet their requirements:

In accordance with the NBA, the SNB's share capital amounts to CHF 25 million (art. 25 NBA). It is divided into 100,000 registered shares with a nominal value of CHF 250 each. At end-2022, 51% of these shares were held by cantons, cantonal banks and other public authorities and institutions. The remaining shares were in the possession of private individuals and legal entities in Switzerland and abroad. Shareholders may vote only if they are entered in the share register. However, as stipulated in the NBA, a private shareholder's registration is limited to a maximum of 100 shares (art. 26 NBA). Of the registered shares, just under 66% were held by public sector shareholders.

[–]yellowsnow2[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

If you look at the supporters of the bill, it seems like this one is sponsored by the Kremlin.

Why would the Kremlin care if Americans are debt slaves?

The power of the Fed has already been diminished in some way. If the supporters of this bill actually believed in it, they would just not hold any USD denominated assets,

The federal reserve being an arm of the international bankers and the IMF international monetary forum have diminished power since 1913? They are literally calling for a world government where you will own nothing like a slave and survive by eating bugs. They have literally announced planetary takeover and dystopian technocratic planetary slavery.

Learn the history of this repeating cycle .

A History of Central Banking and the Enslavement of Mankind by Stephen Goodson . https://youtu.be/IKuVO4JaqBY?si=BDh1SjIg97ipxA_V

[–]binaryblob 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Why would the Kremlin care if Americans are debt slaves?

Disruption of any kind is good for them.

[–]yellowsnow2[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Disruption by freeing us from debt slavery would not be a bad thing.