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The most important act of legislation ever passed by any Congress of the United States is the Federal Reserve Act passed December 23, 1913 and signed into law by President Woodrow Wilson. The Federal Reserve is not federal in the sense that it is a federal institution governed by the United States but "federal" in the sense that it is a federation of private bankers that control the means of currency. The Federal Reserve is not a central bank with a reserve of gold or some other precious resource to back the currency, the Federal Reserve is a reserve of private bankers who control the United States government through the creation of Fiat money that floats with out the backing of any precious resource. Thus, out of nothing these private banks create nothing and loan this nothing to the United States and then charge them interest on the nothing that was borrowed. The currency found in ones wallet or purse is no longer legal tender that would act as a promissory note where actual wealth could be exchanged for the currency because the currency is not backed by wealth and is worth no more than the paper and ink used to print the paper or the metal and molding used to make the coin.

The primary source of inflation is the propensity towards creating more currency to float in the economy. The more worthless money created the more worthless the dollar becomes. The more valuable the resource that backs the Euro or the Yen or the Pound the weaker the dollar becomes. As the inflation grows to staggering heights the inevitable fall and the depression or recession that follows brings only pain and suffering to most who are subject to the whims and fancies of a handful of private bankers who've gained control of the United States government by controlling economic prosperity. Any obligation the people may have had to God and country has been exchanged for an obligation to a handful of private bankers and no other act of legislation created prior to the Federal Reserve Act nor since has affected the United States as dramatically and woefully as this horrible act of legislation.

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11y ago

The National Defense Act- expanded the size of the army.

The Naval Construction Act- ordered building of more warships.

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The First Congress ratified the Bill of Rights and passed the Judiciary Act.

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the decleration of independance and the bill of rights

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The Judiciary Act of 1789 was the most important piece of legislation passed by the first session of congress. George Washington signed it into law on September 24, 1789.

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11y ago

food hygiene regulations 2006

the food safety act 1990

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Bill of Rights

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Q: What two important pieces of legislation did the first congress pass?
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