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The former Republican presidential candidate, who has introduced legislation to abolish the Federal Reserve Board, claims the Fed is unconstitutional.
His bill, H.R. 2755, would also require that U.S. currency be backed by gold or silver.
“They (the Federal Reserve Banks) are the official counterfeiters,” Paul told CNSNews.com. “The Constitution says only gold and silver can be used as legal tender. Printing paper money or creating money with a computer is not permissible, and economically it’s a disaster.”
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