The claim that the Federal Reserve was given a 99-year charter set to expire in 2012 isn’t the only myth surrounding its creation.
There is also the myth that the Federal Reserve Act was passed during the Christmas break when most members of Congress were away. That isn’t true, and there is the official record showing the final vote in the Senate was 54-32 on December 18, 1913.
According to Section 4, part 2 of the Federal Reserve Act, 1913, it says of each of the 12 privately owned Federal Reserve Banks:
“To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law.“
Since the Federal Reserve Board’s site shows that all 12 original Federal Reserve Banks are still in operation, their 20-year charter must have been extended.
A 20-year charter was also granted to the First and Second Banks of the United States, and both had their charter terminated. Yes, there was a time when privately owned central banks had time-limited charters, and for good reason, due to the havoc they caused.
12 U.S.C. § 341 : US Code – Section 341: General enumeration of powers shows:
“Second. To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law.“
Again, since the Federal Reserve Board’s site shows that shows that all 12 original Federal Reserve Banks are still in operation, this provision was either changed with some other time limit, or was never changed.
In fact, it was never changed, and, therefore, their charter doesn’t expire in 2012, and there was never a 99-year charter for the Federal Reserve.
Hey, faux–kiss my irish ass– you piece of garbage
Good to see you have nothing that challenges the accuracy of my article. Top of tha mornin’ to ya!
FauxCapital, whos’ we?Sounds like your on someones payroll.
I said: “We have the record of the official vote, therefore, any secret vote doesn’t matter, whether it took place or not.”
“We” is anyone who looks it up in various places, including G. Edward Griffin’s book.
I am not sure I agree with this article. The late Eustace Mullins said that there was a 100 year charter for the Federal Reserve. Mullins was an expert on the Federal Reserve. Furthermore, the Federal Reserve Act was put together in complete secrecy in 1910; it had to be. The Federal Reserve is the biggest criminal conspiracy ever put on the American people.
[...] 1)04/21: The Federal Reserve’s non-existent 99-year charter set to expire in 2012 [...]
But the fed is privately owned? funny how there are 12 of them….one invisible bank left for the devil…funny how theres 13 illuminati families…who likes to pass acts on 1913….hmmm
Gee, I went and asked the government about the secret vote it held to enact the charter of the Federal Reserve and they told me it wasn’t secret, and everything was passed according to lawful provisions. And I believe them.
I am still waiting for the tooth fairy to recover the canine under my pillow.
We have the record of the official vote, therefore, any secret vote doesn’t matter, whether it took place or not.
I see the Sun in the sky, and the Sun is yellow, therefore the Sun is made of lemonade.
That is your logic regarding the charter of the Federal Reserve.
We have the legislation showing their original 20-year charter, and now indefinite charter, therefore, your analogy doesn’t hold, since we have evidence the Sun isn’t made of lemonade.