Why the Federal Reserve Fears This New Bill to End Its Power: Awake-In-3D
Why the Federal Reserve Fears This New Bill to End Its Power
On May 21, 2024 By Awake-In-3D
Opening the door for an American MONETARY AND CURRENCY RESET that ends the Fiat Financial System
In This Article
Ending the FED: This is the Way
H.R. 8421 and its Purpose
Representative Thomas Massie’s Motivations
Key Supporters and Historical Context
Potential Impact on the Economy
A strong argument can be made that the Federal Reserve Central Banking system has enabled every financial crisis since its creation in 1913.
Initially established to stabilize the American monetary system, the Federal Reserve’s primary goal has been to control the U.S. dollar.
Over the years, the Federal Reserve has implemented strategies such as removing the dollar from the gold standard and monetizing the national debt issued by the U.S. Treasury.
Despite its significant monetary control, the Federal Reserve is not a government entity; it is a private bank owned by a collective of private board members and the largest banks in the United States.
This private ownership raises concerns about the Federal Reserve’s true motivations and accountability.
The introduction of the Federal Reserve Board Abolition Act faces formidable opposition from these powerful Banksters, who will undoubtedly fight to prevent this bill from becoming law.
This bill, sponsored by Representative Thomas Massie (R-KY), seeks to dismantle the Federal Reserve System, aiming to address the inflationary pressures that have plagued the American economy.
With substantial support in the House of Representatives, this legislation could significantly alter the nation’s financial landscape.
Introduction of H.R. 8421 and its Purpose
H.R. 8421 proposes the abolition of the Board of Governors of the Federal Reserve System and the Federal Reserve banks.
It also calls for the repeal of the Federal Reserve Act of 1913, the law that established the Federal Reserve System.
This significant move aims to dismantle the central bank, which Rep. Massie and his supporters argue has been responsible for severe economic issues, particularly inflation.
Representative Thomas Massie’s Makes His Case
Rep. Massie has been vocal about his concerns regarding the Federal Reserve’s role in the economy. He argues that the central bank’s policies during the COVID-19 pandemic, which included creating trillions of dollars and lending them to the Treasury Department, have led to unprecedented deficit spending.
According to Massie, this “monetizing of the debt” has devalued the dollar and fueled the inflation that is now impacting millions of Americans.
“Americans are suffering under crippling inflation, and the Federal Reserve is to blame,” said Massie.
He believes that ending the Federal Reserve is the most effective way to curb inflation and protect the financial well-being of retirees and savers.
Key Supporters and Historical Context
The Federal Reserve Board Abolition Act is backed by several prominent members of the House, including Rep. Andy Biggs (R-AZ), Rep. Lauren Boebert (R-CO), and Rep. Josh Brecheen (R-OK), among others.
This legislation echoes previous efforts by former Representative Ron Paul (R-TX), who first introduced a similar bill in 1999 and continued to champion the cause until 2013.
Rep. Massie’s reintroduction of this bill is also complemented by his Federal Reserve Transparency Act of 2023, which aims to audit the Federal Reserve.
This dual approach seeks to both dismantle and scrutinize the central bank, reflecting a broader movement among certain lawmakers to reduce the power and influence of the Federal Reserve.
Impact on the US Economy
If enacted, H.R. 8421 would initiate a one-year period during which the Federal Reserve System would be dismantled.
During this time, employees would receive compensation, and the assets and liabilities of the Federal Reserve would be managed and liquidated. The Director of the Office of Management and Budget would oversee this process, ensuring an orderly transition.
The abolition of the Federal Reserve could lead to significant changes in the U.S. financial system. Proponents argue that it would eliminate the inflationary policies that have eroded the value of savings and increased economic inequality.
Critics, however, warn that such a drastic move could destabilize financial markets and lead to economic uncertainty.
As if we are not already in unprecedented times of financial uncertainty?
The Bottom Line
The introduction of the Federal Reserve Board Abolition Act by Rep. Thomas Massie is a bold proposal aimed at fundamentally restructuring the U.S. financial system.
With significant support in the House, this legislation represents a critical juncture for economic policy and monetary independence in America.
We all need to support this Bill with passion. Let your congressional representatives know you want to END THE FED.
Read the full text of the Bill here: https://massie.house.gov/UploadedFiles/EndTheFed.pdf
Read Representative Massie’s Press Release here: https://massie.house.gov/news/documentsingle.aspx?DocumentID=395644
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