Whereas the Federal Reserve System has existed for 100 years, primarily engaged in purchasing debt instruments from our government by issuing new Federal Reserve Notes in return. This process results in additional debt for the United States and an ever-increasing national debt that is rising at an unsustainable rate. This private entity also has the power to shrink or expand our national money supply at will, thereby controlling the resulting value of the USD.
Therefore, the signers of this petition request repeal of the Federal Reserve Act of 1913, repeal of the National Banking Act of 1864, abolishment of Fractional Reserve Banking, initiation and issuance of a new Debt Free U.S. Note currency to replace Federal Reserve Notes, and abolishment of the Federal Reserve System.