Legislation has been introduced in Congress to fully abolish the unconstitutional and subversive Federal Reserve. It is imperative that Congress support and enact this important bill!
H.R. 8421, titled the Federal Reserve Board Abolition Act, is sponsored by Representative Thomas Massie (R-Ky.) and is cosponsored by 23 other representatives.
If enacted, H.R. 8421 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 H.R. 8421’s introduction, Rep. Massie stated:
Americans are suffering 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 the high inflation we see today.
Monetizing debt is a closely coordinated effort between the White House, 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.
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.
H.R. 8421 is an excellent step in that direction. Contact your U.S. representative and senators and urge them to support the Federal Reserve Board Abolition Act.
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