Kunming mother sues US central bank over shrinking cash

Kunming mother sues US central bank over shrinking cash

www.scmp.com

In what could to grow into a class action in US courts, a Chinese woman is suing the Federal Reserve after discovering that the real value of the USD250 she put in an account in 2006 had shrunk by 30%. She claims it was the result of the Fed issuing too much money, and as The South China Morning Post reports, her son Li Zhen, the lawyer, called the lawsuit "litigation for the public good". Alleging "abuse of monopoly in issuing currency," the People's Court of Kunming has yet to rule on the litigants' demand that the Fed cease-and-desist from its quantitative easing policy.

(visit the link for the full news article)

Did a search, and didn't see this yet.

A Chinese woman is suing the Federal Reserve for her devalued federal reserve notes. Although this story in and of itself isn't huge news, there is a potential for a rolling class action lawsuit. Wouldn't that be something? Could this be the next leg up of the Economic war that is happening (not so) behind the scenes?

This was interesting as well:

While this may seem frivolous, there are some interesting points being made that bear watching, as Li notes, since "the Fed is private institution which enjoys monopoly over the issuing of currency, US Dollar holders can sue it for printing too much money."

Suing the FED has been talked about on ATS before, just as the liberty movement has blossomed, this may as well.

www.abovetopsecret.com...

BRICS begin to move away from the Dollar

Thoughts?




www.scmp.com
(visit the link for the full news article)

Good, fair, deserving case!

in contrast, arrogant Barry sued China for being TOOO efficient

www.cnn.com...

Tough for her - the fact is the Fed Reserve is perfectly entitled to do as they have done, whatever CT's may cry about it.

Spending money on a court case is just throwing good after bad, or just a waste of time if it's on a no win no pay basis - in either case there is no case (sic) to answer.

reply to post by Skerrako


This wont go anywhere...

First off the Government has to agree to be sued...

secondly the dollar in the US is a dollar, regardless.

Her issue is with the comparison to other currencies on the open market..

Originally posted by Xcathdra
reply to post by Skerrako

 

Her issue is with the comparison to other currencies on the open market..

Which are subject to change. Not to mention the fact that she wants to sue the Federal Reserve because the value of her US$250 shrank by 30%, which is $75. So think about it...she's suing the Federal Reserve for $75. Doubt that is going to court.

Originally posted by Xcathdra
reply to post by Skerrako

 

This wont go anywhere...

First off the Government has to agree to be sued...

The Federal Reserve is not a government agency. Careful about tossing that statement around as a reason her case has no merit.

What she will find out through court is:

1. Her "money" while in a bank, is NOT hers at all, but the banks, so the reduction is a bank issue - they could sue, but technically she is not the victim, the bank is.

2. Her "money" is actually an IOU, whose value is inherently worthless, as each transaction taken with a Federal Reserve Debt Note results in someone not paying but literally "passing the buck." While in the bank, she has no money at all, but a bank "account" which is different.

3. The US courts are an extension of the Federal Reserve, have been for the past 100 years, so she'll find out she's going to the slave master to complain about how the master treats her.

4. Without QE, she'd have nothing at all, not even the 30 percent less of the nothing he had before.

Originally posted by crankyoldman

The Federal Reserve is not a government agency.

The US Government certainly think it is - List of Federal Agencies and Commisions

Federal Reserve FAQ: Who owns the Federal Reserve?

Read this... Somewhat of a strange relationship.

But no matter what they say do a lil more digging and you'll find they're not part of our government. They're almost saying it here. Don't ask liars to tell you the truth about what they're doing.

Federal Reserve ? They are as federal as Federal Express.....

But at least FEDEX delivers and the other FED just takes....