Friday, November 21, 2008

"End the Fed" Rally to be held Saturday

Posted on Fri, Nov 21, 2008 at 4:00 AM

"End the Fed" is a nationwide campaign to abolish the Federal Reserve Bank and the Federal Reserve Act in hopes of creating a more stable U.S. monetary system. A rally will be held Saturday, November 22nd, at noon, at Federal Reserve banks in 39 cities across the U.S., including Memphis. The Memphis bank is located at 200 North Main downtown.

From the End the Fed press release:

"On the night of November 22, 1910, a group of bankers met at an elite resort at Jekyll Island, Georgia. So began the dark conception of the Federal Reserve System, which many economists argue is responsible for devouring the political and financial wealth of America. The U.S. dollar has seen a better than 98% decline in its purchasing power since that time… Ninety-eight years later, End the Fed will announce the initiation of a grassroots, unfunded, trans-partisan citizens' movement for sound money with rallies at every Federal Reserve Bank and office in the country. Activists will demand an end to private banker control over the nation's money supply and the return to a hard, commodity-backed monetary system.

"End the Fed activists believe that the Federal Reserve Bank, through its inflation of the money supply and the distortion of free markets resulting from its intervention, is responsible for the current financial and economic crisis. They also hold that the current round of 'bailouts' and Federal Government nationalization of large segments of the financial sector further inflates the U.S. dollar and disrupts the proper functioning of the markets and will ultimately serve to plunge the nation into an even more severe crisis and possibly even into a serious depression."

End the Fed's action plan includes a petition drive and a Congressional lobbying campaign for the Federal Reserve Board Abolition Act (H.R. 2755), which was introduced to Congress by Representative Ron Paul in June 2007. The plan also calls for a public, Congressional audit of both the Federal Reserve Bank and of the U.S. Treasury Department's gold reserve. End the Fed activists believe that with the development of free market and barter trade systems and "private banking institutions based on precious metals and commodities" that we, as a people, may be able to save our economy.

To find out more information, visit www.endthefed.us, or join the rally at Memphis' Federal Reserve Bank at 200 N. Main Street. --By Shara Clark

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