"The Congress shall have Power To coin Money and regulate the Value thereof." (1.) Why is our money issued by the Federal Reserve Bank and not Congress? (2.) Is this legal?

"The Congress shall have Power To coin Money and regulate the Value thereof."
(1.) Why is our money issued by the Federal Reserve Bank and not Congress?
(2.) Is this legal?

In the same article and section of our constitution, the congress is also given the authority to make ALL laws that are necessary and proper to carry out the execution of the constitution. If someone has a better idea for a monetary system and way to "coin money and regulate the value thereof ", then feel free to run for congress and if you win, introduce your ideas.

Comments

by John_B6556
You cannot help to compete with the Bankers. It is very simple, Money is suppose to be managed publicly, by elected officials. Yes the supreme court has said that they can charter their money making job to other agencies, but not to vacate their responsibility. Right now no congressman is allowed to sit in an FOMC meeting. Congress is not even allowed to ask just any question. This is money we are talking about. Almost everyone, without question, given the ability to manage large sums of money will find ways to cheat. The only way to stop cheating is to have as much transparancy as possible.
- Report
by se7ensnakes on January 21st, 2011

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"The Congress shall have Power To coin Money and regulate the Value thereof."
(1.) Why is our money issued by the Federal Reserve Bank and not Congress?
(2.) Is this legal?

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"The Congress shall have Power To coin Money and regulate the Value thereof." (1.) Why is our money issued by the Federal Reserve Bank and not Congress? (2.) Is this legal?

Answers. Showing one answer.

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"The Congress shall have Power To coin Money and regulate the Value thereof."
(1.) Why is our money issued by the Federal Reserve Bank and not Congress?
(2.) Is this legal?

Answerbag.com
Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!