[* if you enjoy this report, consider subscribing to Jim Fetzer’s All Things Reconsidered, where this is a weekly report] Article I, Section 8, of the U.S. Constitution empowers Congress to coin money and regulate its value thereof. Article I, Section 10, specifies that no state shall make anything but gold and silver coin a tender in payments of debts. The Federal Reserve Act of 1913, passed by the 63rd Congress and signed into law by President Woodrow Wilson on December 23, 1913, established the Federal Reserve System, the central…
