A Date that Lives in Infamy

Ending the Fed From the Bottom Up
by William Greene

From Tenth Amendment Center

Since its inception, the U.S. Federal Reserve’s monetary policies have led to a decline of over 95% in the purchasing power of the U.S. dollar. As a result, there have been several attempts to curtail or eliminate the Federal Reserve’s powers (for example, the efforts of Rep. Louis T. McFadden in the 1930s; the efforts of Rep. Wright Patman in the 1970s; the efforts of Rep. Henry Gonzalez in the 1990s; and the efforts of Rep. Ron Paul since the 1990s); however, none have proven successful to date, due mainly to the constraints of strong political opposition at the national level.

In contrast to these attempts at the national level, a paper I recently presented at the Mises Institute’s “Austrian Scholars Conference” proposes an alternative approach to ending the Federal Reserve’s monopoly on money: the “Constitutional Tender Act,” a bill template (first introduced by Georgia State Rep. Bobby Franklin) that can be introduced in every State legislature in the nation, returning each of them to adherence to the U.S. Constitution’s “legal tender” provisions of Article I, Section 10.

Read the article.

Jason Rink is the Editor-in-Chief of The Liberty Voice. Executive Director of the Foundation for a Free Society. He is the producer and director of Nullification: The Rightful Remedy, and the author of “Ron Paul: Father of the Tea Party” the biography of Congressman Ron Paul. See more of his work at his writing at JasonRink.com and his film production work at FoundationMedia.org.

2 Comments

  1. Bill Greene

    December 23, 2010 at 3:33 pm

    Thanks for posting the link, Jason. The more we can get the word out, the sooner we can restore sound money… and our country.

  2. Mark Herpel

    December 24, 2010 at 9:33 am

    The sooner, the better!

    Mark

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