View Single Post
Old 01-07-2007, 02:00 AM   #5 (permalink)
Baltar
Senior Member
 
Join Date: Nov 2006
Posts: 325
Baltar is on a distinguished road
Default

Quote:
Originally Posted by RiverFlows View Post
The "Federal Reserve" is a PRIVATE corporation. It is no more "federal" than Federal Express.
Not quite true. The Fed is a "quasi-governmental banking system", overseen by a board of governors which are appointed by the president. The president can also remove them from their position. The Federal Reserve Banks and all member banks are in fact privately owned, however:

"Each privately owned Federal Reserve Bank and each member bank of the Federal Reserve System is subject to oversight by [the] Board of Governors. The seven members of the board are appointed by the President and confirmed by the Senate. Members are selected to terms of 14 years (unless removed by the President), with the ability to serve for no more than one term."

Quote:
Originally Posted by RiverFlows View Post
There is NO law that would require the average American worker to pay an income tax. So, many actions of the "IRS" are simply ILLEGAL and against the constitution.
The 16th amendment of the US Constitution clearly says:

"The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration."

How much more lawful does it need to get than that?

Quote:
Originally Posted by RiverFlows View Post
They are printing those pieces of paper like crazy. That's why a house that cost $27,000 back in the 50s now costs half a million.
Wow, they're blaming inflation on too much money being printed? Inflation is a complex issue and narrowing it down to "they print too much money!" is just silly. Especially now that we're in the electronic age and the fact that as much as two-thirds of US currency is outside of the country.

Quote:
Originally Posted by RiverFlows View Post
Let's try and stop this outrage! Let's get rid of the "federal reserve" system !!!
Read the Federal Reserve article in Wikipedia. It's very detailed and has a section about criticisms of the Fed. I'm not saying that The Fed is good the way it is right now, but I do have to read a lot more about it before forming an opinion.
Baltar is offline   Reply With Quote