Abolish the Federal Reserve Act

Article 1, Section 8 of the US Constitution states that "The Congress shall have Power To... coin Money, regulate the Value thereof, and of foreign Coin,..."

Charles Lindbergh stated, "This is the Aldrich bill in disguise…The worst legislative crime of the ages is perpetrated by this banking bill…The banks have been granted the special privilege of distributing the money, and they charge as much as they wish…This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private...There should be no legal tender other than that issued by the government…The People are the Government. Therefore the Government should, as the Constitution provides, regulate the value of money." (Congressional Record, 12/22/1913)

The Federal Reserve was created to prevent Economic Catastrophes like the Stock Market Crash of 1929, which it failed, to prevent inflation like that of the late 70's and early 80's, which it failed, to preserve the Purchasing Power of the Dollar, which if you compare the value of Dollar now versus 1913 (Creation of the Federal Reserve Act), the Dollar has lost 96% of its value.

The Federal Reserve prints money and charges the American People for its service. According to the Federal Reserve's own Balance Sheet, the American People owe the Federal Reserve $790.4 Billion.

With the current state of the Economy, looking at the Stock Market having lost 10% in one month, it's time to fix a broken system. The US National Debt is $8 Trillion and growing, with no plan of action to pay off the debt. With China threatening to liquidate $1 Trillion as a "nuclear option," having our Economic Survival threatened is not an option. Democrats under Wilson pushed the Federal Reserve, and Republicans under Bush have done nothing to balance the budget or pay off the National Debt. It's time for a new Party with new ideas to take the leadership position and change the course of the American Economy to one of prosperous growth, starting with abolishing the Federal Reserve Act and paying off the National Debt.