Title: [My note: Non]Constitutionality of the Federal Reserve System - Ed Vieira Source:
YouTube URL Source:http://www.youtube.com/watch?v=pzJEXVm5vxw Published:Mar 9, 2007 Author:markiegreg Post Date:2013-01-30 06:47:32 by GreyLmist Keywords:Edwin Vieira, Jr., Federal Reserve Act of 1913, National Industrial Recovery A, SCOTUS Views:96 Comments:4
From the Description section:
Edwin Vieira, Jr. - four degrees from Harvard: A.B. (Harvard College), A.M. and Ph.D. (Harvard Graduate School of Arts and Sciences), and J.D. (Harvard Law School) - discusses the cartel structure and constitutionality of the Federal Reserve System from the film "FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution."
Poster Comment:
1.5 minute video. My transcription:
There's another major problem with the system, in that the system is a cartel structure. Which means they've taken all the banks in the country, put them into one economic unit that's essentially regulated from the top by the Board of Governors in the Federal Reserve system.
Comes 1932/33. Had the crash. Roosevelt administration came in. One of the first important pieces of legislation which was passed was the National Industrial Recovery Act of 1933. And the National Industrial Recovery Act of 1933 did for all industries in the economy the same thing that the Federal Reserve system did for the banks in 1913. It created cartel structure. All the steel producers were in one group, poultry people were in another group, mining people were in another group and on top of this whole thing was something that looked like the Board of Governors called the National Recovery Administration.
The National Industrial Recovery Act was challenged as to its Constitutionality and a case went to the Supreme Court in 1935 -- the Schechter Poultry case -- and the Supreme Court unanimously declared it Unconstitutional. They said this kind of delegation of power by Congress to private parties is [and this is an exact quote] "unknown to our law" [unquote]. You couldn't find it anywhere by any method of interpretations. It was unknown.
Well, the difference between the National Industrial Recovery Act and the Federal Reserve Act is essentially zero. The peculiarity here is that the Federal Reserve Act has never gotten that question to the Supreme Court.
Wanted: Constitutional attorney(s) for Federal Reserve Act class-action lawsuit.
More info from the Description section of the above video:
The entire film, Fiat Empire, can be accessed at http://www.FiatEmpire.com