Old Project Avalon Forum (ARCHIVE) - View Single Post - HR 1207 UPDATES "The Federal Reserve Transparency Act"

orthodoxymoron · 03-23-2009, 04:56 AM

It's about time! Why not audit Fort Knox gold? Or...how about an audit of all Deep Underground Military Bases? That would really be digging up dirt! Go Ron Paul!

Should the Sherman Antitrust Act be applied to the Fed?

Antitrust Act (Sherman Act,[1] July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. § 1–7) was the first United States Federal statute to limit cartels and monopolies. It falls under antitrust law.

The Act provides: "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal".[2] The Act also provides: "Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony [. . . ]"[3] The Act put responsibility upon government attorneys and district courts to pursue and investigate trusts, companies and organizations suspected of violating the Act. The Clayton Act (1914) extended the right to sue under the antitrust laws to "any person who shall be injured in his business or property by reason of anything forbidden in the antitrust laws."[4] Under the Clayton Act, private parties may sue in U.S. district court and should they prevail, they may be awarded treble damages and the cost of suit, including reasonable attorney's fees. [5]

03-23-2009, 04:56 AM	#14
orthodoxymoron Avalon Senior Member Join Date: Oct 2008 Location: Lunar Base II Posts: 3,093	Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act" It's about time! Why not audit Fort Knox gold? Or...how about an audit of all Deep Underground Military Bases? That would really be digging up dirt! Go Ron Paul! Should the Sherman Antitrust Act be applied to the Fed? Antitrust Act (Sherman Act,[1] July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. § 1–7) was the first United States Federal statute to limit cartels and monopolies. It falls under antitrust law. The Act provides: "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal".[2] The Act also provides: "Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony [. . . ]"[3] The Act put responsibility upon government attorneys and district courts to pursue and investigate trusts, companies and organizations suspected of violating the Act. The Clayton Act (1914) extended the right to sue under the antitrust laws to "any person who shall be injured in his business or property by reason of anything forbidden in the antitrust laws."[4] Under the Clayton Act, private parties may sue in U.S. district court and should they prevail, they may be awarded treble damages and the cost of suit, including reasonable attorney's fees. [5] Last edited by orthodoxymoron; 03-23-2009 at 05:03 AM.