One Nation "Under God"

[mookiemookie]

Originally Posted by CaptainHaplo

US currency is not controlled by the government. The US Federal Reserve is a private holding, not a public (aka governmental) one. As such, they can put whatever they like on there without needing to conform to any "separation of church and state" - though that in and of itself is not in the US Constitution. The idea that it should be taken off as well is a statement that one (or many) private citizens have the right to tell another private enterprise what it must do to "conform". If you take issue with US currency - don't use cash. But your opinion that the "separation" bit has any bearing on the current design of physical US currency is incorrect.

Classifying the Fed as a "private entity" is wrong. The Federal Reserve is authorized under the Federal Reserve Act of 1913. It's only private in the sense that the monetary policy decisions of the Fed aren't subject to governmental approval.

However, the Fed is audited by the GAO, it reports to Congress semianually as mandated by the Humphrey Hawkins Act, the Fed Board of Governors and the Fed Chairman are appointed by the President and confirmed by the Senate and all profits made by the Fed are turned over to the Treasury.

So, no, the Fed is not a private entity. QED.