Abolishing the Federal Reserve: Ending the US Central Bank.
This legislation aims to completely eliminate the Federal Reserve System and all Federal Reserve banks one year after the law is enacted. This removes the institution responsible for managing monetary policy, controlling inflation, and ensuring financial stability in the country. All assets and liabilities of the Fed, including debts and employee benefits, will be transferred to the Treasury Department, directly impacting the federal budget.
Key points
Complete abolition of the Federal Reserve System (the US central bank) and repeal of the Federal Reserve Act.
All functions, assets, and debts of the Fed will be transferred to the Treasury Department, shifting financial responsibility to taxpayers.
The change takes effect after one year, allowing time for the orderly liquidation of assets and winding up of affairs.
Status:
Expired
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