Why we are being taxed by an institution in which we do not elect? Taxation without representation?

sound_of_the_silenced3: Why we are being taxed by an institution in which we do not elect? Taxation without representation?
More money in circulation=higher prices

The devaluation of savings and our dollar is a tax. Who did you elect to the Federal Reserve?

Isnt it taxation without representation?

Answers and Views:

Answer by vinny_says_relax
The Federal Reserve has no authority to levy taxes.

Edit: To all the uneducated idiots who have given this answer a thumbs down, feel free to post a link showing the federal mandate allowing the Federal Reserve to levy a tax.

I’ll wait…

Answer by lordfrig
The Federal Reserve is held in check by Congress, so yes we are represented so no the taxation without representation argument could not work.

Answer by Riot106
Because a bunch of people who don’t pay taxes have representation. They voted this regime in to depreciate our currency.

Answer by Over bite
The term of the Federal Reserve chairman is set and the President at the time nominates the Fed chair, it is not unlike cabinet posts.

Answer by Brig. Gen. Sir H. Flashman
You have no understanding of how it works.

Answer by Pfo
Most people don’t understand it. When I say most I mean in the 90+% range.

Answer by Climbing Up the Walls
How is the Federal Reserve held in check by congress? The only thing they do is agree with the President who gets the Chairmanship and put on the BOD. They won’t even agree to audit the FED, something that should’ve been done yearly since it’s inception.

Answer by Chief Inspector Clouseau
No. Whether it’s a a quasi public-private organization like the federal reserve or a bank of the united states, theres no provision for them to be elected, so some unelected body establishes monetary police. We elect congress who legislated the Fed, we elect a president who appoints members to the board. Thats as good as it gets.

Answer by brown9500v13
Where was your pissing and moaning when they raised interest rates?

Answer by Bill O
You can thank the Progressive FDR for our never legally enacted PROGRESSIVE tax code! (the federal Reseve has nothing to do with taxes.)
Yes, and Obama, Pelosi, and Reid are self-proclaimed PROGRESSIVES!