Repeal the Federal Reserve Act of 1913 and all amendments thereto

The Federal Reserve Act has implemented a debt-money system that is killing the American economy.

The Federal Reserve Act of 1913 tasks the Federal Reserve System with providing economic stability and full employment for the people of the United States. It has never come close to fulfilling that mandate. Instead, the Federal Reserve Act of 1913 in essence grants the power to create the nation's money to private banking corporations. These corporations -- by definition -- must compete to provide the maximum profits for their shareholders, not to provide the maximum benefits to the American people in general.

Giving the "money power" to private banks allows them to create all of the nation's money out of debt through the fraudulent practice of fractional reserve lending. This misuse of the "money power" in this manner is not only unconstitutional, but nothing less than counterfeiting of United States money.

The "money power" is granted only to Congress by we, the people, in Article 1, Section 8 of the U.S. Constitution: "The Congress shall have Power To ... coin Money, regulate the Value thereof...."

Furthermore, Article 1, Section 8 calls on Congress to: "... provide for the Punishment of counterfeiting the Securities and current Coin of the United States...."

Therefore, we call upon the President to issue three Executive Orders as short-term remedies and the Congress of the United States to implement three long-term remedies to cure these abuses of the Constitutional mandates of the U.S. Constitution:

1. President Obama: by Executive Order eliminate the ability of the Federal Government to borrow any additional money as the first step in a sweeping monetary reform. This EO will be effective until a Constitutional Amendment can be ratified having the same effect.

2. President Obama: by Executive Order replace Federal Reserve Notes with U.S. Notes as the only currency of the United States. Currently in-use coin will be maintained as legal tender, supplemented by weight-denominated gold and silver coin. Federal Reserve Notes will be replaced one-for-one during a one-year transition period. The implementation of this will be governed by the a Monetary Authority. This EO will be effective until Congress passes legislation having the same effect.

3. President Obama: by Executive Order in order to implement Monetary Reform, a Monetary Authority will be created which will be composed of, at a minimum, 100 elected representatives -- 2 from each state in the Union -- whose sole purpose will be to decide on what quantity of U.S. money that will be issued on a quarterly basis, and how best to implement the changes to Monetary Reform. The Monetary Authority in general will take on all the monetary powers currently granted to the Federal Reserve and will decide on how best to implement monetary reform in the public interest of the people of the United States. The decisions of the Monetary Authority will be final in that they will supersede any directives of the Executive Branch of government or legislation of Congress unless passed