| | | | | | |  |
H.R. 833: | Federal Reserve Board Abolition Act | 111th Congress 2009-2010 |
To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes. OverviewSponsor: | | Text: | Summary
|
Full Text | Status: |  | Introduced | Feb 3, 2009 | | Referred to Committee | View Committee Assignments |  | Reported by Committee | ... | | House Vote | ... | | Senate Vote | ... | | Signed by President | ... |
This bill is in the first step in the legislative process. Introduced
bills and resolutions first go to committees that deliberate, investigate, and revise
them before they go to general debate. The majority of bills and resolutions never make it out of committee.
[Last Updated: Nov 13, 2009 2:52PM] | Last Action: | Feb 3, 2009:
Referred to the House Committee on Financial Services. | Related: | See the Related Legislation page for other bills related to this one and a list of subject terms
that have been applied to this bill.
Sometimes the text of one bill or resolution is incorporated into another, and in those cases the original bill or resolution, as it would appear here, would seem to be abandoned. |
|
Question & Answer 
Can you answer any of these questions posed by other users? Think of it as a civic good deed.
See 1 more question posed on this topic or submit your own question on the Q&A page.
Oct 4, 2009 8:26 PM - Where does the Fed get its money when it buys bonds from the federal government? -
Read AnswersAnswered by a visitor on Oct 20, 2009 2:11 PM -
The Fed usually purchases government securities from private dealers. Essentially, the Fed creates the money for the purchase by drawing a check against itself and crediting the the dealer's bank with the newly created money in exchange for the securities. The Fed has thus gained interest bearing securities in exchange for money it created out of thin air. For more information: http://www.rayservers.com/images/ModernMoneyMechanics.pdf Oct 20, 2009 6:16 PM - Why can banks get money at 0%, by definition no risk, while you and I, even with comparable credit rating / lack of leverage / loss reserves and other positive key indicators don't have that luxury? And how can all this take place when they are so risky they can bring down the entire economy? -
Answer it! |
Because the U.S. Congress posts most legislative information online one legislative day after events occur, GovTrack is usually one legislative day behind. For more information about where this data comes from, see
About GovTrack.us. H.R. 833--111th Congress: Federal Reserve Board Abolition Act.
(2009).
In GovTrack.us (database of federal legislation).
Retrieved Nov 22, 2009, from
http://www.govtrack.us/congress/bill.xpd?bill=h111-833
"H.R. 833--111th Congress: Federal Reserve Board Abolition Act."
GovTrack.us (database of federal legislation).
2009.
Nov 22, 2009
<http://www.govtrack.us/congress/bill.xpd?bill=h111-833>
{{cite web
|url=http://www.govtrack.us/congress/bill.xpd?bill=h111-833
|title=H.R. 833
|accessdate=Nov 22, 2009
|author=111th Congress (2009)
|date=Feb 3, 2009
|work=Legislation
|publisher=GovTrack.us
|quote=Federal Reserve Board Abolition Act
}} | | | |
| |
