Home › Why Sue the Federal Reserve?
Why Sue the Federal Reserve?
- To End the "Rule of the Banks" over the People and Bring Accountability to Wall Street
- To Restore Economic Prosperity and a Sustainable Monetary Policy
- To Recover Trillions of Dollars Taken from "We the People"
- To Reduce the Federal Deficit by Trillions of Dollars
- To Obtain Economic Justice for All Americans
PatriotStorm was formed because we believe that the Federal Reserve System (the Fed”) is antiquated and dysfunctional and needs to be abolished. Our opinion is shared by many experts in this field. Since the passage of the Federal Reserve Act that created the Fed in 1913, many highly respected economists and experienced authors have written volumes about the many problems and abuses caused by the Fed. Two examples are listed below:
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” - Thomas Jefferson, 1802 3rd president of US
“The Federal Reserve System is a legal private monopoly of the money supply, operated for the benefit of a few, under the guise of protecting and promoting the public interest.” - Anthony Sutton, PhD Stanford Economics
Many people do not know that the Federal Reserve is a private company - not a government agency. In fact, it is not related to the government in any way. It is a PRIVATELY-OWNED, FOR-PROFIT company that holds the monopoly on the US system of money, banking and credit, and its power and influence over both Washington and Wall Street is profound and unprecedented. We believe that under the Fed’s current policies the needs of “Main Street” and the common man have been for the most part sacrificed and ignored.
PatriotStorm disavows the actions of hysterics or conspiracy theorists. We deal only in facts. PatriotStorm is made up of a group of courageous men and women leading a movement of ordinary citizens and patriots like you, who are concerned with the direction of our nation, and believe that our Republic and the free enterprise system which made our country great, are under siege. We are committed to doing whatever we can to lawfully help restore economic growth and personal prosperity in order to lead our nation to exceptionalism and greatness once again. We believe that the Fed and its policies interfere with this vision.
At PatriotStorm, we are convinced that the Fed and its monetary system are broken beyond repair and must be replaced with a modern system based on a set of historically proven, sustainable and sound financial principles that: a) promote economic growth; b) restore jobs; c) decentralize power, and d) eliminate government indebtedness to a private central bank. All of us have watched Congress debate the issue of the Fed for years with no real progress. It now appears that it is up to us; “We the People” to solve this problem directly, as specifically enumerated in the 10th Amendment to the US Constitution.
“The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are preserved to the States respectively, or to the people.”
Our opinion is that the Fed is beyond redemption and must be abolished for the following reasons:
- Unconstitutionality: Many legal experts insist that the Federal Reserve Act is unlawful on its face under Article I Section 8 of the US Constitution; and that Congress acted beyond its authority when it chartered the Fed in 1913.
- Unfairness: The current system allows banks the ability to loan money they do not have, created in transactions where they put nothing at risk thus assigning all of the risks in the loan to be borne by the borrower. As many authors state – it is like “creating money from nothing.” This practice is unjust and unconscionable. It is simply un-American to get something for nothing.
- Lack of Transparency: The Fed fails to disclose its banking practices and the ultimate results of its monetary policies to borrowers prior to making its interest-bearing loans. In the opinion of our counsel their failure to disclose these fundamental aspects of borrowing are unlawful - termed “fraud in the inducement” and if the court agrees, these transactions are actionable (provide a cause to sue).
- Public Endangerment: Numerous experts have shown that any monetary policy which calls for the payment of interest to a private bank based upon the government’s debt (defined as “Usury”) creates an economy that is mathematically unsustainable and which is inherently designed to fail. This fundamental flaw undermines our society, weakens our economy, threatens our national security and damages each and every Person in the nation. The evidence of this truth is everywhere today – where economies all over the world (Argentina, Greece, Iceland, etc) are collapsing and being forced into bankruptcy by the large international banks and their central banks that operate on the same Usury system principles. (We believe that the United States may not be far behind unless something is done immediately to stop it.)
- Unregulated Monopoly: The Fed has grown so powerful that it no longer allows any true oversight by Congress. For example, the Fed has never undergone a complete audit and now openly refuses to allow one. The Fed is no longer cooperating with Congress and is steadfastly refusing to answer important questions regarding our money and the material transactions it makes on a regular basis. We believe that no institution should be allowed to operate beyond oversight and above the law.
- Against Public Policy: Because the Fed makes enormous profits by putting the government (i.e., every one of us) into a state of perpetual re-borrowing and interminable debt, the Fed’s policies are unconscionable; and act against our best interests and violate the public trust of the American people.
Breach of Fiduciary Duty: The Fed has failed to meet its stated goals in its charter which are to: “to provide the nation with a safer, more flexible, and more stable monetary and financial system.” In fact, since 1913 the Fed’s policies have actually caused the exact opposite to occur:
- The dollar has lost 95% of its value,
- Our economy has experienced numerous recessions and a major depression,
- Our economy is now on the verge of total financial collapse,
- The federal government has accumulated massive debts which it is entirely unable to repay without continued re-borrowing (we are essentially bankrupt), and
- Americans are losing their personal property at unprecedented rates (record bankruptcies and foreclosures) and seeing a relentless erosion of their individual freedoms and liberty every day.
In short, the Fed’s policies are not in synch and are no longer operating in the best interests of the American people. It is therefore incapable of achieving its chartered purposes.
With that said, our nation now stands at a critically important crossroad. For reasons that remain unclear, the political will of our elected officials to remedy the situation is stymied. This has caused the people to lose faith in their government to protect them, and fear is spreading rapidly across the land. This must stop. NOW!
We believe that the process for getting our country back begins as the ballot box. Voting a new slate of elected officials into office who will address each of these critical issues through sweeping financial reform legislation is an essential means of restoring sound fiscal policy and confidence in our Republic. PatriotStorm supports the many amazing people and patriotic organizations who have dedicated themselves to this cause. Simultaneously, it is our considered opinion that one of the best ways that the American people can support a revitalized Congress is to seek civil redress against the Federal Reserve through the courts.
Therefore, PatriotStorm is preparing to unleash the largest armada of civil class action litigation in history. We will be focusing that attack directly on the Federal Reserve in virtually every municipal, county, state and federal court in the nation. This is a bold undertaking. It is a true David vs. Goliath effort to help regain our country. We are confident that we have right on our side, and will win this fight – with your participation and support.
Unlike many other popular grass roots organizations, PatriotStorm is not a political entity. We are seeking to restore economic freedom for everyone. When an economy collapses, it does not discriminate against age, gender, religion, ethnic background or anything else. It hurts everyone - the middle class most of all. We are taking our fight to the Fed, we hope that everyone will join us.
We do not represent Republican or Democratic ideals; but we do support those candidates who are willing to join us in this fight. Our goal is to restore America to greatness and reclaim prosperity for each of us through the litigation process. We believe that the best way to achieve this objective is to replace our current monetary system, and those who support it, with one that is time tested to be fair and will protect each American citizen. The Fed with its current Usury monetary system just does not meet this simple standard.
The bottom line is that the Federal Reserve’s failure to perform its responsibilities and meet its fiduciary duties has severely damaged every American in the process. We believe that it is high time for average Americans to band together and stand up to seek a complete redress of these grievances in court. This challenge is not trivial. It will involve the efforts of thousands of lawyers working tirelessly nationwide. PatriotStorm will work hand in hand with these patriotic law firms to provide them with: a) essential legal research; b) documents from discovery proceedings gathered from court filings nationwide; and c) legal briefs and court testimony from all of the other similar actions across the country. Fortunately, we have a roadmap to success. Our process will be modeled upon the successful tobacco litigation precedents established during the 1980’s and 90’s. Only we will have the added advantage of modern technology to keep abreast of the cases in real time and reduce the time and expense of prosecuting the litigation in each case.
Below are listed just some of the actions that we will seek to prove in courts of competent jurisdiction all across the country.
“Top 20” Potential Civil Causes of Action:
But we cannot do this alone. We need your help to be successful. You can participate in two ways:
- Join the Litigation: You can join the litigation as a Co-Plaintiff and add your voice to millions of others who have been damaged by the Fed’s policies that support and encourage out-of-control government spending that leads to unpayable debt and deficits that endanger our society. If you are: a) over 18 years old; b) and are an American citizen or are legally residing in the US, and c) have ever been involved in a loan transaction with a bank, you are probably eligible to join the lawsuit. It’s FREE and requires that you simply sign up. A local law firm in our network will contact you as they prepare to begin the lawsuit in your area.
- Support the Litigation: PatriotStorm funds the litigation process, (attorneys fees, court costs, and out of pocket expenses) through the sale of its membership subscriptions and other items. Our supporters are called “Minutemen,” and they form the backbone of our fight against the Fed. Minutemen receive regular private updates regarding the status of the litigation. They get all of the behind the scenes information about the lawyers, the court filings, the motions, the court battles etc., and they receive this information before anyone else, and in more detail than anyone else.
Becoming a Minuteman gives each person or business the ability to finally do something and get directly involved in taking our county back. It is a tangible way to get real results and is a real investment in the future of our Republic and in our children’s future as well.
What’s in it for you?
- These are tough times. Everyone knows someone who has lost their job, lost their home or been severely affected by the economy. Abolishing the Fed will allow the economy to get moving again, toward a true recovery that will be lasting and sustainable.
- Our litigation will be seeking the recovery of every dollar that has ever been paid in interest in any loan that has ever been made. For many people this check could be pretty substantial, especially if they have a home mortgage.
- Also, we will be demanding that every current loan be modified to a non-interest bearing note with all of the interest paid in to date to be applied to the principle amount. This would lower monthly payments dramatically allowing everyone the opportunity to get out of debt quicker and to have much more money (disposable income) to spend each month.
This is the first time in history that a legal undertaking of this size and scope has ever been attempted. Also, it is the first real opportunity for patriots everywhere to stand up together and put some teeth into their demands for:
No More Government Debt
No More Out of Control Spending
No More Growth in the Size of Government
Abolishing the Fed will send a clear message to our politicians to start representing the people rather than the special interests. It’s time to stand up and actually do something to take our county back.
“Now is the time for all good men to come to the aid of their country.” - Charles E. Weller