You make it sound like the congress is powerless to exercise oversight or to control the Fed. The congress retains such power and may exercise it as it pleases. Could is all that matters, because the fact that it could happen defeats the narrative you want to spin about the Fed being forever unanswerable and unaccountable.
Has this been violated...?
the congress has established a system where they literally have NO oversight, by design.
yes. it has.
Except they do have oversight, by design. In order to delegate power, the congress must have oversight. If an agency does something the congress doesn't like, the congress can overrule it. Legal weed? No tax? Not a pollutant? if congress says yes or no, whatever the agency said is irrelevant.
You'll have to explain how it was meant to circumvent restrictions placed on the federal government. Under an 1800s case, the supreme court declared that the constitution permitted the federal government to issue fiat currency; congress delegated this power to the Fed in 1913, and the courts have upheld that delegation as constitutional.
The Board of Governors is an independent federal agency. It controls the issuance of Federal Reserve Notes and monetary policy.
Why do you want to know? Google it dumbass.
Wait, you don't understand how a direct tax for everything that needs to be spent would keep congress's excessively thrifty ways in check? SO, if government needed to pay off the public debt tomorrow, you woudn't protest the $230,000 bill you get payable within one year or its off to prison with ya? That seem ok to you?
The answer is no, dumbass. Only if you live in some magical fantasy reality that ignores legality reality.
Except most of the budget is funded by tax revenues and that has always been the case; and most of the national debt--the vast, vast majority of it--has been owned by parties other than the Fed. You don't need the Fed to spend $3.8 trillion a year and to have a $15 trillion debt.
O Rly? Explain where the TARP money went then. Don't simplify it, really try to figure out where it went by using every public record you have available. I think you'll find nothing. Anything you find in the official record I would like you to link to it.
Revenue total is $2.7 Trillion, making us almost 1 trillion short. That's a bill of $4,300 for each and every living soul in the USA.
You haven't made any case why it would be a constitutional violation. We have plenty of records to go from, so that's no excuse.
I like how you accepted my higher spending figure and tried to junk the higher revenue figure. If we go by CBO, receipts will be $2.8 trillion and spending will be $3.45 trillion, leaving the gap I specified. The point was that the government takes in the vast majority of the money it spends these days.
i never said it was a constitutional violation you dipshit. You should get reading glasses and then have your brain removed and replaced with one that can think clearly. Someone said that there is nothing in the constitution that says that they have to have an accounting done. I proved them wrong.
What accounting hasn't been done...? If it's required by the constitution, not doing it is a violation of the constitution. Do you not recognize this...?
LOL keep trolling.
No no, the constitution grants the Feds power to coin money and to access credit on behalf of the United States...where does it mention the power can be deligated to a private agency to issue their own funny money with little to no oversight?
The constitution doesn't say anything about that, but the body of constitutional law on delegation of powers does. The court cases addressing this question say that congress constitutionally delegated its power to the Fed, so that's that.