Political Theory

Re: Lawsuit Against the Fed

reidbump — Fri, 01 Feb 2008 22:14:43 GMT

pairunoyd:
What are some entities that are similar to the Fed (in the way they were created) and have they ever been sued?

Any corporation, limited liability company, limited partnership, or any other business entity created by authority of the state. The Fed is private, but exists only because of a federal charter. Same with Exxon, which could not exist without a corporate charter of Delaware (or wherever it is incorporated). I really think there is an argument there. The Fed takes my property through devaluation without due process of law. Any deprivation of property without due process of law is a violation of the Fifth Amendment. I'm going to delve into this further, but I would like to find some others who can help me develop this argument.

Re: Lawsuit Against the Fed

pairunoyd — Fri, 01 Feb 2008 20:41:12 GMT

This sounds VERY interesting. I think that even if it can't be won it can be very educational. EXCELLENT idea. It'd even make a good book. No balls needed, just literary and marketing skills.

What are some entities that are similar to the Fed (in the way they were created) and have they ever been sued?

Re: Lawsuit Against the Fed

Matthew Graybosch — Fri, 01 Feb 2008 14:46:13 GMT

I'm a programmer, not a lawyer, so I can't help you. I certainly hope, however, that you can find a lawyer with the brains and the balls to bring a case against the Federal Reserve.

Lawsuit Against the Fed

reidbump — Fri, 01 Feb 2008 07:15:19 GMT

I want to sue the Federal Reserve and I have a couple of legal theories. If there are any attorneys out there or anyone else that can add to my list I'd be interested to know. Here it goes. The Fed is private, right? But, it was created by federal law. Thus, there its actions are considered "state action" because the Fed is the federal government's agent. The Fed devalues my savings and yours through inflation. But neither you nor I have the ability to protect our property from devalution. Thus, the Fed, as an agent of the government has deprived me of procedural due process (no notice of deprivation of right and no hearing to defend my rights). Further, the Fed has deprived me of property through de facto exercise of eminent domain without just compensation because it takes the value of my property. I have read cases that the Fed does not have governemental immunity. That said, thoughts?