US rallies demand: 'End the Fed'

by Rachel Nixon | November 24, 2008 at 10:24 am
429 views | 16 Recommendations | 1 comment

Photos

End the Fed

End the Fed

see larger image

uploaded by oliverwi

Rallies took place in cities around the US over the weekend calling for the abolition of the Federal Reserve

"End the Fed" demonstrations were due to take place in 38 cities on Saturday in support of Ron Paul's HR 2755 bill to "abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act".

Amid government bailouts and emergency loans, the rallies coincided with the 98th anniversary of a meeting at Jekyll Island in Georgia, at which a group of bankers met to plan the Federal Reserve.

Ron Paul, a former presidential contender, spoke at the End the Fed rally in Houston, Texas. Anti-war activist Cindy Sheehan took part in a similar event in San Francisco.

There seemed to be few reports in the press about the rallies, however here is one report from an event in Kansas City:

By CAROLYN SZCZEPANSKI
In these days of bankruptcy, foreclosure and general economic calamity, plenty of citizens are pissed off at how the government has handled their hard-earned dollars. Dozens of liberty-loving metro residents crowded a corner near Penn Valley Park on Saturday to express their disdain for our paper-based monetary system. Members of the local chapter of the Liberty Restoration Project and folks who just caught wind of the protest on the Internet joined forces with demonstrators in 38 other cities to call for an end to the Federal Reserve.     Names: Mitch Jones (left) and Adam Woods (right)
Claims to activist fame: Both describe themselves as "activist types" and, most recently, put their energy behind Republican Ron Paul's presidential campaign. Wood ran the Texas Congressman's push in Douglas County and Jones, a fellow Lawrence resident, helped out.  
Fed up of the Reserve: Like many of the activists crowding the corner, Wood doesn't like the Federal Reserve running rampant with taxpayers money when the citizens have little say in its operation. "No matter what you think about the monetary system, we have an agency with no oversight," Wood said. "Absolutely none."
Just like magic: Because the Reserve is based on a paper system, Wood explained, it can print money with impunity. The problem with that, he said, is inflation. "They pump out trillions of dollars out of thin air," he said. "But they're basically stealing from anyone with a dollar. It's theft." 

And a brief report from Portland:

About 50 people showed up at today's END THE FED rally in downtown Portland to protest against the Federal Reserve - our nation's unconstitutional private money monopoly. Alex Ansary was there with a megaphone to educate passersby. It was a lot of fun!

Today was the 45th anniversary of JFK's assassination. Many believe he was shot because he dared issue debt-free United States Notes.
recommend This comment thread is now closed
0
Uwe Paschen

If the reserve was to be abolish and since it is unconstitutional may very well be. However what would be the concequences of such a move, since this has been in place for some time now.

Since it was (Created in 1913 by the enactment of the Federal Reserve Act, it is a quasi-public (government entity with private components) banking system[1] composed of (1) the presidentially appointed Board of Governors of the Federal Reserve System in Washington, D.C.; (2) the Federal Open Market Committee; (3) twelve regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; (4) numerous private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks; and (5) various advisory councils. As of February 2006, Ben Bernankeserves as the Chairman of the Board of Governors of the Federal Reserve System.)

That is a long time t be running, especially if unconstitutional.


This story was created over 3 months ago, the comment thread is now closed.

What is NowPublic?

NowPublic lets people work together to cover news events around the world.

Find out more

Crowd Power

Uwe Paschen
First Flagged at 10:57 AM, Nov 24, 2008 by Uwe Paschen
These members have powered this story:

Most Recommended Stories in Tech & Biz

Recommendations (16)

Most recently recommended by:
 

closeSign in to NowPublic

is reporting from