Border Patrol

There is freedom within
There is freedom without
Try to catch the deluge in a paper cap
--Crowded House

Dr J conducts a nice review of the Federal Reserve Act to demonstrate how recent Fed actions have been illegal/and or unconstitutional. Clearly the Fed has overstepped its boundaries.

Perhaps I need to get more familiar w/ the Federal Reserve Act as my knowledge of its specific contents is tiny. I have not paid much attention to it because it seems the FRA itself seems unconstitutional to me. I cannot see how the institution of the Fed does not violate the Constitutional mandate that Congress alone authority to coin money. Congress cannot delegate this power to an agency--particularly one that is not directly accountable to the citizenry. The Constitution was never amended to change Congressional authority in this regard, leaving any subsequent piece of legislation, such as the Federal Reserve Act, as an unconstitutional law.

Now, as Dr J notes, the Fed is now expanding its powers beyong those that can be construed as illegal to begin with.

We have many Fed supporters claiming that increased sentiment against the Fed is 'politicizing' things. This is laughable, as the Federal Reserve is a political construct.

De-politicizing the Fed will only occur when it is taken apart.