Entry Submitted by MenoReno at 4:40 AM EST on November 23, 2019
According to a report from Dinarland, on April 19, 1982, the United States Court of Appeals, Ninth Circuit, ruled that the Fed was illegal. The question is, is this report accurate or not?
The case was Lewis vs. The United States. The complaint was filed by a John J. Lewis, an individual claimed he was hit by a vehicle owned by a FED bank filed action against them under the Federal Tort Claims Act.
The USCA ruled against the claim, stating that because the FED was not a part of the federal government but a privately owned organization, that it couldn’t be held responsible under the FTCA.
So the report that this ruling meant that the FED is illegal is incorrect. Can Trump issue an EO abolishing it? That’s doubtful. The FED was created by an act of Congress, and can only be overturned by another act of Congress to abolish it.
Anyone see this is likely, given the current state of affairs in Congress?