Abolishing the Federal Reserve: Ending the US Central Banking System.
This bill proposes the complete abolition of the Board of Governors of the Federal Reserve System and all Federal Reserve banks within one year of enactment. This represents a fundamental shift in how US monetary policy and financial stability are managed, as the institution controlling interest rates and money supply would cease to exist. Liquidation duties and liabilities, including employee retirement benefits, will be transferred to the US Treasury Department.
Key points
The Federal Reserve System (Fed) and all regional banks will be completely abolished one year after the law takes effect.
The Federal Reserve Act will be repealed, eliminating the current central banking structure in the US.
Fed assets will be liquidated, with net proceeds going to the Treasury; the Treasury will assume all liabilities, including employee retirement benefits.
This change transfers functions previously handled by the independent central bank directly to the US government.
Introduced
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