Republican Rep. Thomas Massie of Kentucky and more than a dozen other House Republicans measurement It targets the Federal Reserve System. The bill includes text declaring that “the Board of Governors of the Federal Reserve System and the Federal Reserve Banks are hereby abolished” and “The Federal Reserve Act is hereby repealed.”
Massey announced the measure on Thursday, the same day the Dow Jones Industrial Average rose above 40,000. first time It eventually gave up the rally and ended the day slightly lower.
“If you really want to reduce inflation, the most effective policy is to terminate the Federal Reserve.”
“Americans are suffering from catastrophic inflation, and the Federal Reserve is to blame,” Massey said, according to one report. press release. “During the COVID-19 pandemic, the Federal Reserve created trillions of dollars out of thin air and loaned the Treasury to enable unprecedented deficit spending.The Federal Reserve Monetizes Debt. “It devalued the dollar and enabled free currency policies, which led to high inflation.”See today. ”
“Debt monetization is a closely coordinated effort between the White House, the Federal Reserve, the Treasury Department, Congress, major banks, and Wall Street,” he said in a press release. “Through this process, retirees will see their savings evaporated by central bank actions that pursue inflationary policies that benefit the wealthy and well-connected. If you want to control it, the most effective policy is to terminate the Federal Reserve.
The bill’s original co-sponsors include Andy Biggs of Arizona, Lauren Boebert of Colorado, Josh Brechen of Oklahoma, Tim Burchett of Tennessee and Missouri, according to a press release. They include Republican Sens. Eric Burleson of the state, Kat Cammack of Florida and Michael Cloud of Texas. Eli Crane of Arizona, Jeff Duncan of South Carolina, Matt Gaetz of Florida, Bob Good of Virginia, Paul Gosar of Arizona, Marjorie Taylor Greene of Georgia, and Harriet of Wyoming. Hageman, Ralph Norman of South Carolina, Scott Perry of Pennsylvania, Chip Roy, Keith Self of Texas, Victoria Spartz of Indiana, Tom Tiffany of Wisconsin.
” Federal Reserve Board Repeal Act “It was first introduced in 1999 by former Congressman Ron Paul (R-Texas) and has not been reintroduced since 2013,” the press release states.
Pole introduced He has repeatedly enacted the Federal Reserve Repeal Act, including in 2013 when then-Rep. Georgia Republican Paul Brown introduced the measure.
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