Is the Fed Guilty of Treason?
March 21, 2013 by Leave a Comment
An important issue that the gold lobby has raised in the past (regarding the application of Article 1, Section 8 of the US Constitution), gave rise to a court decision that any complainant who wished to challenge the relationship of the Fed and the US Government had to have locus standi in judicio. Apparently, the reason for this was that, because of the fact that Congress must approve borrowing limits of the Federal Government, and because of the double sided bookkeeping entry that clearly links new treasury bond issuance with money creation, it was (at that time) a fact that Congress was ultimately in control of the country’s money supply. Theoretically, if Congress had refused to raise the Sovereign borrowing limit then that would have put a stop to the Fed’s money creation.