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<p>[QUOTE=&quot;fatima, post: 1363549, member: 22143&quot;]To help clarify it, the constitutionality of the Federal Reserve Act has never been tested and that is the whole point.&nbsp; Clearly the Constitution defines what the US government can do or not do.&nbsp; The US Treasury is bound by it, but t the Federal Reserve isn&#039;t.&nbsp; </p><p><br /></p><p>The Federal Reserve is an entity that was created by the federal government but isn&#039;t considered part of the federal government.&nbsp; Hence, for the purposes of the Constitution, it&#039;s considered a private company whose shareholders are the banks, and when people deal in federal reserve notes, they are not dealing with the federal government.&nbsp; The US Treasury still has the full authority to issue currency, but it choses not to because of the Constitutional limits placed on its currency.&nbsp; If it wasn&#039;t for this distinction, then there would be no need for the Federal Reserve.[/QUOTE]</p><p><br /></p>

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