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PETITION FOR REDRESS OF GRIEVANCES RELATING
TO THE FEDERAL RESERVE SYSTEM
WHEREAS, All men are created equal and are endowed
by their "Creator" with certain unalienable rights,
and
WHEREAS, If the Creator has, in fact, gratuitously
provided, equipped and enriched the People with Rights, it
follows that those Rights belong to the People and to
the Creator and it follows that any affront to the
Constitution (as when government attempts to violate an unalienable
Right) is an affront to the Creator, and
WHEREAS, If our Rights come from the Creator, only
the Creator can frustrate and deny or defeat our Rights --
that is, government cannot abridge what God has put in place,
and
WHEREAS, The Constitution of the United States
of America, and particularly the Bill of Rights, is a strongly
and carefully worded, Divinely inspired set of principles
expressly intended to restrain the government, not the people,
and
WHEREAS, By the terms and provisions of the Constitution,
the People have established their government and delegated
to it the authority to act in certain ways, and have purposely
and markedly restricted and prohibited the government from
acting in certain ways, and
WHEREAS, The Constitution of the United States
of America delegates to Congress alone the power to coin money
and regulate the value of foreign exchange (and implicitly
the currency in circulation), and
WHEREAS, The Constitution does not, by its terms
or by necessary and unavoidable implication, authorize Congress
to pursue any positive monetary policy or to delegate control
over monetary policy to any central bank, such as the United
States Federal Reserve System, and
WHEREAS, The Constitution guarantees every American
citizen the unalienable right to life, liberty, and property,
and
WHEREAS, Each of the Constitution’s prohibitions
and restrictions on government’s power is, in fact, another
unalienable right enjoyed by every citizen and lawful resident
on American soil, and
WHEREAS, Every American citizen has an unalienable
right to freedom from a government that, without the People’s
prior and explicit consent, would either pursue a positive
program of monetary policy or would turn over control of America’s
monetary policy to any un-elected and politically unaccountable
body, now therefore
WE THE PEOPLE, hereby petition the Executive and
Legislative Branches of the Federal Government for a redress
of grievances relating to the origin and operation of the
United States Federal Reserve System, and
WE THE PEOPLE, respectfully request that the President
of the United States of America, each member of Congress’
House of Representatives and each member of Congress’ Senate
honor their oaths of office to uphold the Constitution, by
honoring their obligation to respond to this, the People’s
petition for redress of grievance, by answering the following
questions, and
WE THE PEOPLE, at noon on Thursday, November 14,
2002, will peaceably assemble at the Washington monument in
Washington, DC, where we will await the President, the Senate
Majority Leader and the Speaker of the House, and other members
of Congress, or their representatives, to receive an answer
to these questions or to learn when these elected representatives
of the People will provide an answer to our questions.
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1.
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Do you admit that our government, the United
States of America, does not own any of the
stock in the Federal Reserve Banks?
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2.
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Do you admit that the Federal Reserve System
consists of a Board of Governors in Washington
D.C., plus a group of privately held (but privately
and publicly administered) Corporations, including
12 main banks and 32 regional branch banks?
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3.
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Do you admit that the President, with the
advice and consent of the Senate, appoints
all 7 members of the Federal Reserve Board?
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4.
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Do you admit that the Federal Reserve’s member
banks are controlled by private individuals
and corporations, often acting in concert,
that receive profits from their ownership and
operation of our country’s monetary system?
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5.
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Do you admit that the Federal Reserve Board
is a government agency or instrumentality?
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6.
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Do you admit that for the first twenty years,
Federal Reserve Notes (FRNs) had to be redeemed
in lawful money by Reserve Banks and member
banks (12 U.S.C. Section 411); or, failing
redemption, the United States could assert
a lien on all the Reserve banks’ assets (12
U.S.C. Section 413)?
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7.
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Do you admit that since 1933 FRNs may be redeemed
only by other FRNs?
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8.
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Do you admit that our money, the Federal Reserve
Notes, with the exception of minor or trivial
amounts, are not backed by anything other than
the federal government’s power to collect taxes?
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9.
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Do you admit that since 1933 currency issues,
including FRNs, have been created and are created
with no external limit from nothing but paper
and ink?
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10.
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Do you admit that the assets of the Federal
Reserve System are not composed of anything
other than about $11 billion of gold certificates
in the Federal Reserve Banks, about $16 billion
foreign exchange, about $2 billion Special
Drawing Rights (SDRs), about $22 billion of
premises and equipment of the Federal Reserve
Banks themselves and about $591 billion of
government securities, plus about $32 billion
of Repurchase Agreements or, do you believe
the Federal Reserve System owns or has claims
to assets that the System does not list in
its normal public disclosures?
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11.
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Do you admit that the total assets of the
Federal Reserve equals about 682 billion dollars?
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12.
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Do you admit that all gold owned by the Federal
Reserve System was handed over to the Treasury
Department in 1934 and that the Federal Reserve
received certificates for the gold and carries
these certificates as assets at $42.22 per
ounce ($11 billion total value)?
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13.
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Do you admit that the Federal Reserve System’s
12 main and 32 branch banks obtain Federal
Reserve currency notes from the Bureau of Printing
and Engraving for approximately two cents per
piece of paper, regardless of denomination,
and uses them to purchase Treasury debt for
which the Treasury is liable for the full face
amount of each bill, note or bond, plus interest?
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14
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Do you admit that, except for discounted bills,
by selling a $100 US Treasury Security to the
Federal Reserve, the federal government is
agreeing to pay the Federal Reserve the full
amount of the principal of the Security ($100)
plus an interest payment?
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15.
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Do you admit that it is estimated that only
$263 billion in Federal Reserve Notes are in
circulation in the USA (approximately 40%)?
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16.
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Do you admit that it is estimated that the
other $362 billion in Federal Reserve Notes
are in circulation overseas (approximately
60%)?
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17.
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Do you admit the national debt, the sum total
of all outstanding US Treasury Securities (
not including governmental guarantees and other
contingent and conditional obligations), is
approximately $6 trillion?
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18.
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Do you admit that the $6 trillion national
debt can never be paid-off with the Federal
Reserve Notes if there are only $625 billion
Federal Reserve Notes in circulation (absent
a long-term, extraordinarily oppressive and
over-burdensome system of taxation aimed at
circulating the currency back into the government’s
hands), i.e., that the supply of "currency"
whether in either physical FRNs or accounting/book
entries must be increased endlessly (inflation)
in order to make the payments of interest and
principal on both national and privately held
debts that are denominated in FRNs?
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19.
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Do you admit that when a worker "deposits"
his paycheck in a bank or writes a check, there
is NO exchange of actual FRNs and only an accounting
entry takes place and that for every $1 deposited
in a member bank, approximately $9 can be lent
out through the Fractional Reserve Policy and,
in any event, the public is never informed
of the inherently unstable nature of the system?
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20.
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Do you admit that whereas Federal Reserve
Notes are units of exchange, bank money
(credit money) is units of account,
and absent laws requiring a higher reserve
requirement, banks can expand deposit accounts
to 9+ times exchange?
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21.
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Do you admit that when a member bank lends
a customer "money" it merely credits
the customer’s account with a book entry, never
actually depositing Federal Reserve Notes in
the customer’s account?
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22.
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Do you admit this is the reason why only $263
billion Federal Reserve Notes in domestic
circulation have been pyramided to support
a $10 trillion dollar economy?
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23.
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Do you admit that when the Federal Reserve
Act was passed (on Christmas Eve) in 1913,
Federal Reserve Notes became one of four forms
of competing currency (specie, treasury notes
or greenbacks, national bank notes and FRNs)?
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24.
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Do you admit that in 1933, Congress passed
a law making Federal Reserve Notes "legal
tender," thereby transferring the power
to coin and issue our nation's money from Congress
to the Federal Reserve?
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25.
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Do you admit that in 1933 (revised in 1935),
Congress passed a law purportedly transferring
the power to regulate interest rates and thereby
the relative value of money, from Congress
to the Federal Open Market Committee (currently
comprised of up to 7 members of the Board of
Governors and up to 5 voting representatives
of Federal Reserve Banks)?
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26.
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Do you admit that our country now borrows
what should be our own money from the Federal
Reserve (a "private" corporation
that is, in fact, heavily politically influenced
by the President through the Secretary of the
Treasury), paying interest for the privilege?
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27.
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Do you admit that the Secretary of the Treasury
and the Federal Reserve have knowledge of and
has acted in close coordination with the Treasury
Department’s Exchange Stabilization Fund (ESF)
to manipulate and suppress the price of gold
in an effort to keep the perceived value of
the dollar relatively high?
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28.
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Do you admit that the Secretary of the Treasury
and the Federal Reserve have acted in close
coordination with the central banks and governments
of foreign nations to suppress the price of
gold?
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29.
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Do you admit that a portion of the ownership
of the Federal Reserve is held by foreign entities
and that the current statutes allow for ownership
of a controlling interest in its Federal Reserve
Bank stock?
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30.
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Do you admit that there is a risk that there
could be significant and unavoidable conflicts
of interest between the private (and not insignificantly
foreign) owners of the Federal Reserve Banks
and the American people that are forced by
law to use its FRNs?
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31.
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Do you admit that the Treasury Department’s
ESF has directly engaged and/or colluded with
foreign governments and/or central banks to
intervene in the world’s financial markets
in order to manipulate market outcomes?
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32.
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Do you admit similar manipulation regarding
gold and equity markets?
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33.
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Do you admit that the Treasury Department’s
ESF, under U.S. law, is held accountable only
to the President and its books and records
are open for public examination only through
a limited degree and untimely disclosures?
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34.
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Do you admit that the whole of the Federal
Reserve System has never been independently
audited?
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35.
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Do you admit that there is a currently pending
House Resolution calling for a complete audit
of the Federal Reserve by the General Accounting
Office?
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36.
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Do you admit the Federal Reserve Board is
resisting a complete audit of the books and
operations regarding foreign exchange trading,
government securities trading, and transactions
with or for the account of foreign central
banks and monetary authorities?
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37.
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Do you admit the Federal Reserve interferes
with the free market’s effect on the value
of Federal Reserve Notes by trying to regulate
the value of all Federal Reserve Notes?
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38.
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Do you admit that the Federal Reserve determines
the amount of money in circulation and the
price of credit (including mortgage and car
loan rates)?
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39.
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Do you admit the Federal Reserve, at its sole
discretion, decides what the rate of interest
will be that the federal government will pay
to the Federal Reserve?
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40.
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Do you admit that the Federal Reserve Board
consults closely with the Secretary of the
Treasury before every important monetary policy
move and that Alan Greenspan consults with
the Secretary of the Treasury before each Federal
Open Market Committee meeting?
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41.
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Do you admit that under Article 1 Sections
1 and 8 of the federal Constitution, only Congress,
which comprises only the Senate and the House
of Representatives, has the power to coin money
(silver and gold coin) and regulate the value
thereof?
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42.
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Do you admit that no provision of the Constitution
gives Congress the authority to transfer any
powers granted under the Constitution to a
private corporation?
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43.
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Do you admit that the Federal Reserve Board
is repugnant to the Constitution?
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44.
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Do you admit that the Federal Reserve Banks
are repugnant to the Constitution?
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45.
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Do you admit the Constitution specifically
states that the enumeration of certain rights
shall not be construed to deny or disparage
others retained by the People, and that the
powers not delegated to the United States by
the Constitution, nor prohibited by it to the
States, are reserved to the States respectively,
or to the People (ninth and tenth amendments)?
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46.
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Do you admit the United States of America
is not just one more undifferentiated trading
outpost in some great global economy?
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47.
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Do you admit the United States of America
belongs to We The People?
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48.
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Do you admit the medium of exchange, that
is, the money we use in our country, is an
instrumental element of national sovereignty
and is supposed to be under our control?
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49.
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Do you admit that if our government needed
to spend more money than it is taking in, the
Treasury does not have to use the Federal Reserve
System – the government could print the additional
money, put it into circulation and withdraw
it as necessary -- i.e., that we do not have
to borrow our own money from any central bank?
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50.
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Do you admit the Federal Reserve System has
never been declared constitutional by the Supreme
Court?
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51.
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Do you admit there has never been a Supreme
Court case regarding the constitutionality
of the Federal Reserve System?
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52.
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Do you admit that all elected officials are
required to take an oath of office to support
the Constitution?
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53.
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Do you admit that to the extent that Congress
enacts or facilitates avoidance of clear and
explicit language of the Constitution that
Congress is undermining the Constitution?
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54.
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Do you admit certain elected and appointed
officials, including the President, elected
members of the Congress, and appointed members
of the Board of Governors of the Federal Reserve
System are guilty of aiding and abetting the
undermining of clear and explicit language
of my Constitution?
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55.
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Do you admit this fits the common definition
of tyranny?
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Respectfully submitted this 4th day of November,
2002 by We The People of the United States of America:
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