Since June 1933
All Federal Reserve notes And Federal reserve notes Are “Without Authority of
Law”
In section 1 of
HJR-192 a very important sentence states; “Any such provision contained in any
law authorizing obligations to be issued by or under the authority of the
United States, is hereby repealed” this is most significant… under Section 16
of the Federal Reserve Act (see below) the Federal reserve notes issued under
that section were expressly said to be obligations of the United States. Since
June of 1933 the authority to issue those section 16 Federal reserve notes was
repealed! Resulting in ALL Federal Reserve notes and Federal reserve notes are
without authority of law.
"Severe
Penalties" Since 1933 Designation Of "Emergency" Legal Holiday
For Members Of Federal Reserve System, National Banking Associations
Whereas defined pursuant to: 12 USC § 95 - Emergency Limitations
And Restrictions On Business Of Members Of Federal Reserve System; Designation
Of Legal Holiday For National Banking Associations; exceptions; “State”
defined: Current through Pub. L. 113-36 (See Public Laws for the current
Congress) (a) In order to provide
for the safer and more effective operation of the National Banking System and
the Federal Reserve System, to preserve for the people the full benefits of the
currency provided for by the Congress through the National Banking System and
the Federal Reserve System, and to relieve interstate commerce of the burdens
and obstructions resulting from the receipt on an unsound or unsafe basis of
deposits subject to withdrawal by check, during such emergency period as the
President of the United States by proclamation may prescribe, no member bank of
the Federal Reserve System shall transact any banking business except to such
extent and subject to such regulations, limitations and restrictions as may be
prescribed by the Secretary of the Treasury, with the approval of the
President. Any individual, partnership,
corporation, or association, or any director, officer or employee thereof,
violating any of the provisions of this section shall be deemed guilty of a
misdemeanor and, upon conviction thereof, shall be fined not more than $10,000
or, if a natural person, may, in addition to such fine, be imprisoned for a
term not exceeding ten years. Each day that any such violation continues shall
be deemed a separate offense. See: http://www.scribd.com/doc/191814321/Common-Law-Trust-Emergency-Limitations-and-Restrictions-on-Business-of-Members-of-Federal-Reserve-System-Defined-Public-Notice-Public-Record
In theory the
Federal Reserve Act of 1913 (Chapter 6, 38 Stat 251) was supposedly intended to
provide a system of up to a maximum of twelve reserve banks as an adjunct to
the previously existing but ‘Independent National Banks’ which were banks of
issue. The various Federal reserve banks were organized and created by the
pre-existing ‘National Banks in a reserve district as the stockholders of the Federal reserve bank was to act as a
reserve bank for the member banks in each district and as such there was no
need for the Federal reserve banks to be banks of issue. But under section 18
of the Federal Reserve Act (38 Stat., 268, 269) the various Federal reserve banks
could issue circulating notes of the same tenor and under nearly identical
terms and conditions as the circulating notes of the ‘Independent National
Banks.’
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