The Federal Reserve Act is the biggest scam in the history of the United States.  The US does not need a national banking system.  The constitution gives Congress the power to print and coin money.  The US really doesn't need to borrow money from private institutions in order to carry out the day to day operations of this nation.  The Federal Reserve Act provides a golden parachute for banks to take ridiculous risk and scam hard working Americans out of their money. 

During the civil war Abraham Lincoln went to the banks to borrow money to fund the war and the banks tried to charge him 30-40% interest on the loans.  He was outraged.  He went to Congress and the rest was history.  For the first time the United States borrowed money from itself with 0% interest.  This was not favorable to the banks nor favorable to the foreign investors who controlled some of these banks.  The Federal Reserve Act is the 3rd installation of a national banking system in this country. It gives total control of the US monetary system to private institutions and that is wrong. 

The Federal Reserve is required to give all profits the the US Treasury Department.  It is hard to know what exactly is happening to the money because every piece of legislation introduced in Congress to audit the Fed is knocked down.  The Fed buys US bonds for practically nothing because they have the power to print money and collects the interest on the bonds.  No organization is authorized to audit the Federal Reserve so there is basically zero oversight of what the Fed does with our money or how much money the Fed makes.  There is speculation that many of the owners of the 12 Federal Reserve Banks are foreign parties.  Something must be done about this. We deserve to know where our money is going, what is being done with it, and who it is going to.  THE FEDERAL RESERVE BANKS NEED TO BE AUDITED.  Please support this petition.