$2 + Billion of your money may go to the wrong place! (dollars, federal government)

[AksarbeN]

HR-5818 Coin Act of 2006 authorizes the transfer of the United States Mint and Bureau of Engraving and printing to the Federal Reserve Board. This act instructs the Secretary of the Treasury to arrange for accounting, transfer of all assets and liabilities to the Federal Reserve Board. Sounds like nothing too terrible until you understand that there is over 2 billion dollars that in profit that would normally go in the federal government to help taxpayers with paying down debt. Instead, the 2 plus billion dollars will go to the Federal Reserve Board. The Federal Reserve Board is not part of the U.S. Government and the money will allow paying extra large dividends to those who have “invested” in the Federal Banking System. Thus those who are wealthy with investments in the Fed will become more wealthy with the windfall of the extra $2 + Billion dollars of profit that the Mint has at this time. This profit money would normally go to the Federal Government and be used there with other funds (tax) coming into the treasury.

I understand that HR-5818 wants to kill the penny. There isn’t any problem with that part of the bill, however buried deep inside the bill is the restructuring of the profits and moving it to the wrong location that would benefit taxpayers of this country.

From what I gather HR5818 needs to be stopped from being passed. Discontinuing the making of pennies is ok, but the giving of $2+ Billion dollars profit to those who are not worthy of the money is wrong thing to do.

From what I’m hearing and finding so far – this administration is pushing for HR5818 to be passed. It’s got’a stop. The government give-a-way program to the rich needs to end!