END THE FED with the Federal Reserve Board Abolition Act (H.R. 1846 and S. 869)

Why it Matters

URGENT: Legislation to abolish the Federal Reserve has been introduced in both the U.S. House and Senate.

Legislation has been introduced in Congress to fully abolish the unconstitutional and subversive Federal Reserve. It is imperative that Congress support and enact these important bills!

H.R. 1846 and S. 869 are titled the Federal Reserve Board Abolition Act. H.R. 1846 is sponsored by Representative Thomas Massie (R-Ky.) and is cosponsored by 10 other representatives, while S. 869 is sponsored by Senator Mike Lee (R-Utah).

If enacted, H.R. 1846 and S. 869 would fully abolish the Federal Reserve, repealing the 1913 Federal Reserve Act and abolishing the Board of Governors of the Federal Reserve and the Federal Reserve banks.

In a press release announcing the bills’ introduction, Rep. Massie stated:

Americans have suffered under crippling inflation, and the Federal Reserve is to blame. During COVID, the Federal Reserve created trillions of dollars out of thin air and loaned it to the Treasury Department to enable unprecedented deficit spending. By monetizing the debt, the Federal Reserve devalued the dollar and enabled free money policies that caused high inflation. Monetizing debt is a closely coordinated effort between the Federal Reserve, Treasury Department, Congress, Big Banks, and Wall Street. Through this process, retirees see their savings evaporate due to the actions of a central bank pursuing inflationary policies that benefit the wealthy and connected. If we really want to reduce inflation, the most effective policy is to end the Federal Reserve.

In a separate statement, Senator Lee stated:

The Federal Reserve has not only failed to achieve its mandate, it has become an economic manipulator, directly contributing to the financial instability many Americans face today. We need to protect our economic future, end the monetization of federal debt that fuels unchecked federal spending, and put American money on solid ground. We need to End the Fed.

The Federal Reserve’s creation in 1913 remains one of the most egregious violations of the U.S. Constitution. In addition to blatantly violating the Constitution by its very existence, the Fed has the ability to single-handedly manipulate the economy and devalue the U.S. dollar.

By inflating the dollar — which has lost 97 percent of its value, or purchasing power, since 1913 — inflation effectively imposes a stealth tax on the American people, decreasing their wealth and standard of living.

A sound monetary policy is necessary for a nation’s economy to be stable and enable material prosperity. Already, the Federal Reserve and the Deep State have caused far too much damage through their inflation of the U.S. dollar and issuance of fiat currency. It is imperative that Congress follow the Constitution and put an end to this.