Below is my public statement of support for H.R. 8421, the Federal Reserve Board Abolition Act, sent on May 22, 2024 to Maine State Representative Lori Gramlich and Maine State Senator Donna Baily of Old Orchard Beach, Maine.
Dear Representative Gramlich and Senator Bailey:
Please contact Congresswoman Chellie Pingree, Senator Susan Collins and Senator Angus King and request that they co-sponsor the Federal Reserve Board Abolition Act (H.R. 8421), introduced by Congressman Thomas Massie of Kentucky. It has already been co-sponsored by twenty-one members of Congress.
If enacted, H.R. 8421 would fully abolish the Federal Reserve, repealing the 1913 Federal Reserve Act and abolishing the Board of Governors of the Federal Reserve and the Federal Reserve banks.
The Federal Reserve’s creation in 1913 remains one of the most egregious violations of the U.S. Constitution. In addition to blatantly violating the Constitution by its very existence, the Fed has the ability to single-handedly manipulate the economy and devalue the U.S. dollar.
By inflating the dollar — which has lost 97 percent of its value, or purchasing power, since 1913 — inflation effectively imposes a stealth tax on the American people, decreasing their wealth and standard of living.
A sound monetary policy is necessary for a nation’s economy to be stable and enable material prosperity. Already, the Federal Reserve and the Deep State have caused far too much damage through their inflation of the U.S. dollar and issuance of fiat currency. It is imperative that Congress follow the Constitution and put an end to this illegal monetary policy!
Congress must follow the Constitution and protect the U.S. economy by abolishing the Federal Reserve System. In addition to contacting the Maine Congressional delegation, please honor your oath to the US Constitution and issue a public message of support for H.R. 8421.
Please advise me when you have contacted Maine’s Congressional delegation in this matter.
Thank you for your service to the people of Old Orchard Beach in the Maine Legislature.
Best Regards,
James Duclos
Director
Saco Bay Citizens for Sound Money
Tel. 207-710-3167
Website: www.sacobaycitizens.org
E-mail: jduclos1985@spectrum.net
