Congress Quote by Wright Patman

“In the United States we have, in effect, two governments ... We have the duly constituted Government ... Then we have an independent, uncontrolled and uncoordinated government in the Federal Reserve System, operating the money powers which are reserved to Congress by the Constitution.” quote by Wright Patman — Download Open image

“In the United States we have, in effect, two governments ... We have the duly constituted Government ... Then we have an independent, uncontrolled and uncoordinated government in the Federal Reserve System, operating the money powers which are reserved to Congress by the Constitution.”

Wright Patman

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Congress Constitution Effects Federal reserve Government Independent Libertarian Libertarianism Liberty Limiting government Money power Politics Reserved Reserves States Two United United states

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There are many reasons why the general public doesn't really understand our monetary system. In the first place, money is something that people tend…

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Also, the Federal Advisory Committee should be enlarged and reorganized. Members should be chosen for the broadest possible representation of the public interest, their…

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The Open Market Committee, as presently established, is plainly not in the public interest. This committee must be operated by purely public servants, representatives…

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I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its…

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There have been times when the Federal Reserve has restricted the money supply and raised interest rates to gain an end, which had much…

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Bad as "independence" is, the main fault of the Federal Reserve System - an admirable system if conducted in the public interest - is…

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In a democracy the responsibility for the Government's economic policies, which so affect the economy, normally rests with the elected representative of the people:…

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The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy…

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The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize…

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If the Federal Reserve pursues a policy which Congress or the President believes not to be in the public interest, there is nothing Congress…

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It may seem strange, but Congress has never developed a set of goals for guiding Federal Reserve policy. In founding the System, Congress spoke…

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