DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - The Federal Reserve's Explicit Goal: Devalue The Dollar 33%

**Hbkj89D2** · 02-08-2012, 12:31 PM

So I guess it is a foregone conclusion that the FED charter will be renewed in 2013?

Common misconception Osoab. There hasn't been a charter since 1927. It's been extended indefinitely.

Sec. 4 ... the said Federal reserve bank shall become a body corporate and as such ... shall have power: ... Second. To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law. Federal Reserve Act of 1913 (P.L. 63-43, 38 STAT. 251, 12 USC 221).

However, this 20-year corporate life was changed to perpetual in 1927 by Act of Feb. 25, 1927 (44 Stat. 1234) as follows:

Second. To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law.

This is codified in the United States Code, 12 U.S.C. § 341. See

http://www.law.cornell.edu/uscode/ht...1----000-.html

02-08-2012, 12:31 PM	#9
Hbkj89D2 Join Date Oct 2005 Posts 403 Senior Member	So I guess it is a foregone conclusion that the FED charter will be renewed in 2013? Common misconception Osoab. There hasn't been a charter since 1927. It's been extended indefinitely. Sec. 4 ... the said Federal reserve bank shall become a body corporate and as such ... shall have power: ... Second. To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law. Federal Reserve Act of 1913 (P.L. 63-43, 38 STAT. 251, 12 USC 221). However, this 20-year corporate life was changed to perpetual in 1927 by Act of Feb. 25, 1927 (44 Stat. 1234) as follows: Second. To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law. This is codified in the United States Code, 12 U.S.C. § 341. See http://www.law.cornell.edu/uscode/ht...1----000-.html
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