Since the Fed is a non-profit organization, and not a part of the federal government, per se, it is not immune to civil actions being brought against it by the citizenry. This means that it is theoretically possible to bring a class action suit against it, on behalf of all citizens, for payment of damages caused by inflationary monetary policy. Since a civil suit only requires preponderance of the evidence in favor of the plaintiff, and we have many MANY good arguments showing how the Fed’s policies have deteriorated the purchasing power of the dollar, it’s a feasible thing to make an argument with legal weight that would support payment, by the Fed (and the private banking industry that owns it) in damages for harm done to the american taxpayer.
I know it’s a little far-fetched, but think about it. Anything involving getting huge checks from the government is bound to attract interest and support from the common man, and even if it went nowhere, it would serve to draw attention to a very huge problem that, until now, has gotten little attention at all.
Has using the state to roll back the state ever worked?
There is no quick and easy miracle event that will go viral when we don’t own the game and we’re appealing to people’s base greed instead of their sense of morality and honesty.
Here’s the bad news as I see it. We all have to do the hard work of communicating our ideas to others, one at a time, and hope they carrry on until there is a major ideological shift. It’s long, thankless, tiring work, and there are no promises of visible rewards in our lifetime.
But this boom/hollywood mentality that we’re a crisis or a collapse or a media event or court ruling away from liberty is fool’s gold.
That’s the way I see it. If you disagree, prove me wrong. I’ll be panning for gold while others exhaust their time trying to perfect alchemy.
I think you’ve misrepresented my idea as some kind of magic solution.
Of course it would never work. Even if suing the Fed led to everyong getting a huge check, the price inflation that resulted would devalue the money paid out and the Fed would owe still more, resulting in a vicious cycle. Also, it would not be feasible to calculate the actual damages, as some people benefit by inflation and some do not, all while the economy seeks equilibrium, which, in itself, would confuse the matter of compensation beyond all reason.
The point is that such an action against the Fed would raise awareness of a problem that, while largely unknown to the common man, is one of the most detrimental to his life. The idea of appealing to greed is no more than a matter of getting attention. This is no different than using sex to get a consumer’s attention long enough to try and sell him toothpaste.
It’s not about revolution, just re-directing the attention of the common man toward reality, albeit in a rather fantastic way.
Do you think an Act of congress can be pulled into a civil suit? I’m not clear on the legal statutes or Common Law when it comes to these issues. I’m sure Common Law would uphold what your saying, but I’m not sure of a civil suit through State courts.
