Rep. Thomas Massie (R-KY) has introduced the Federal Reserve Board Abolition Act (H.R. 8421). “I just introduced ‘End the Fed,'” Massie said. “Americans would be better off if the Federal Reserve did not exist. The Fed devalues our currency by monetizing the debt, causing inflation,” he explained. I just introduced “End the Fed” Title: Federal Reserve Board Abolition Act, HR 8421 Americans would be better off if the Federal Reserve did not exist. The Fed devalues our currency by monetizing the debt, causing inflation.https://t.co/JWSaCssAJB pic.twitter.com/z8IDQ139Yc — Thomas Massie (@RepThomasMassie) May 16, 2024 * Image from Rep. Thomas Massie X Post * “Representative Thomas Massie (R-KY) announces the introduction of H.R. 8421, the Federal Reserve Board Abolition Act. Rep. Massie’s legislation abolishes the Board of Governors of the Federal Reserve and the Federal Reserve banks. It also repeals the Federal Reserve Act, the 1913 law that created the Federal Reserve System,” a press release from Massie’s office read. “Americans are suffering under crippling inflation, and the Federal Reserve is to blame,” Massie said. “During COVID, the Federal Reserve created trillions of dollars out of thin air and loaned it to the Treasury Department to enable unprecedented deficit spending. By monetizing the debt, the Federal Reserve devalued the dollar and enabled free money policies that caused the high inflation we see today,” he continued. “Monetizing debt is a closely coordinated effort between the White House, Federal Reserve, Treasury Department, Congress, Big Banks, and Wall Street. Through this process, retirees see their savings evaporate due to the actions of a central bank pursuing inflationary policies that benefit the wealthy and connected. If we really want to reduce inflation, the most effective policy is to end the Federal Reserve,” he added. Per Rep. Thomas Massie: Original cosponsors of Rep. Massie’s legislation include Rep. Andy Biggs (R-AZ), Rep. Lauren Boebert (R-CO), Rep. Josh Brecheen (R-OK), Rep. Tim Burchett (R-TN), Rep. Eric Burlison (R-MO), Rep. Kat Cammack (R-FL), Rep. Michael Cloud (R-TX), Rep. Eli Crane (R-AZ), Rep. Jeff Duncan (R-SC), Rep. Matt Gaetz (R-FL), Rep. Bob Good (R-VA), Rep. Paul Gosar (R-AZ), Rep. Marjorie Taylor Greene (R-GA), Rep. Harriet Hageman (R-WY), Rep. Ralph Norman (R-SC), Rep. Scott Perry (R-PA), Rep. Chip Roy (R-TX), Rep. Keith Self (R-TX), Rep. Victoria Spartz (R-IN) and Rep. Tom Tiffany (R-WI). The Federal Reserve Board Abolition Act was first introduced by former Representative Ron Paul (R-TX) in 1999 and hasn’t been reintroduced since 2013. In addition to introducing this legislation to “End the Fed,” Rep. Massie has also introduced H.R. 24, the Federal Reserve Transparency Act of 2023 to audit the Federal Reserve. H.R. 24 was originally introduced by former Representative Ron Paul (R-TX) in 2009. Fox News reports: Rep. Thomas Massie, R-Ky., has introduced legislation that seeks to end the Federal Reserve – which has operated as the nation’s central banking system since it was created more than 110 years ago. H.R. 8421, the Federal Reserve Board Abolition Act, abolishes the Board of Governors of the Federal Reserve and its banks. It also repeals the Federal Reserve Act, the 1913 law that created the Federal Reserve System. In announcing the move, Massie said Americans would be better off without “the Fed” and blamed it for rapid inflation and devaluing the dollar. Watch this interview with G. Edward Griffin, author of “The Creature from Jekyll Island,” which is a history of the creation of the Federal Reserve System. https://www.youtube.com/watch?v=pqhxzN0PMeg