BREAKING: U.S. Congressman Introduces Bill To END Federal Reserve Banking System

May 16, 2024 8:05 pm Comments

U.S. Congressman Thomas Massie has gone on the offense against the Federal Reserve Banking System.

The libertarian lawmaker, who has long fought against the political establishment and unsustainable fiscal policy, introduced the Federal Reserve Board Abolition Act.

Massie cited the devaluation of the U.S. dollar through reckless monetary printing and the inflation destroying American wealth as the primary drivers behind his bill.

The libertarian GOP representative announced his radical new bill on Thursday evening:

“I just introduced ‘End the Fed.’ Title: Federal Reserve Board Abolition Act, HR 8421. Americans would be better off if the Federal Reserve did not exist.

The Fed devalues our currency by monetizing the debt, causing inflation.” Here’s more on the story:

Rep. Massie featured this accompanying press release for the bill:

Representative Thomas Massie (R-KY) announces the introduction of H.R. 8421, the Federal Reserve Board Abolition Act. Rep. Massie’s legislation abolishes the Board of Governors of the Federal Reserve and the Federal Reserve banks.

It also repeals the Federal Reserve Act, the 1913 law that created the Federal Reserve System.

“Americans are suffering under crippling inflation, and the Federal Reserve is to blame,” said Rep. Massie.

“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,” Rep. Massie continued.

“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 Libertarian Party shared news of a meet and greet with Rep. Thomas Massie at the end of this month.

“Congressman Thomas Massie to Host “Walking Meet and Greet” at Libertarian Convention Following Introduction of His END THE FED Bill Friday, May 24th

Washington DC, May 16th, 2024 — The Libertarian Party will host Congressman Thomas Massie at the Libertarian Convention Friday, May 24th, for a “walking meet and greet” with convention attendees.

Representative Massie will join the collection of free minds and markets, following the introduction of his momentous bill to End the Fed, which will be delivered to the floor of the House that morning.

“Thomas Massie’s commitment to pushing libertarian policies in congress is unmatched by anyone else in office right now. We deeply appreciate him and we’re excited he’s coming to visit us.”

Congressman Massie will arrive at the convention sometime after lunch on Friday, depending on the timing of the End the Fed bill’s introduction on Capitol Hill.

The theme for the 2024 Libertarian National Convention is “Become Ungovernable.”

This was chosen following the previous years of unconscionable authoritarian actions by the United States Federal, and State governments, which saw citizens confined, indoctrinated, lied to, and inoculated against their will.

The citizens of these United States must become ungovernable to regain their basic rights and freedoms.”

Fox Business recently featured this op-ed:

To put it bluntly, the Federal Reserve has lost its way. Officials don’t know why inflation has jumped back up this year or what will happen in the coming months.

The Fed has enabled reckless government borrowing – which has shackled us and our children with a mountain of debt that becomes more costly every year.

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