Lawsuit: In Session Bank of Reveille v. Federal Reserve Bank (FRB) [2025] FCR 22

Your Honor,

The plaintiff rests.
 
The defendant may now cross-examine the witness. 48 hours to present questions, and the witness has 48 hours starting from the time of presentation to answer them.
 
Greetings. I will be taking over as presiding officer for this case.
 
Your Honor,

The plaintiff would like to request the reason for the change of presiding officer mid-case...
 
Nacho said:
Your Honor,

The plaintiff would like to request the reason for the change of presiding officer mid-case...
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The decision to change the presiding officer mid-case was made in the interest of upholding the right to a speedy trial. Given Kai's substantial caseload, the courts determined reassignment would be appropriate.
 
Your Honor, The Plaintiff requests a 14 hour extension to witness questioning due to some unexpected IRL obligations. (12:32am EST deadline).
 
Angryhamdog said:
Your Honor, The Plaintiff requests a 14 hour extension to witness questioning due to some unexpected IRL obligations. (12:32am EST deadline).
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Granted.
 
@Freeze_Line
  1. Does the DOJ have any legal requirement to comply with the requests of the FRB?
  2. Did the FRB take any part in executing the search warrant?
  3. In your opinion, was the execution of the warrant in line with standard legal procedures?
  4. Who was responsible for ensuring the warrant request was properly written?
  5. What would be the process for officially challenging a warrant?
  6. Did the Bank of Reveille provide the required balance sheets before the warrant was filed?
  7. Did the DOJ verify the claims made by Reserve Governor Stoppers before filing the warrant?
  8. Did the warrant seek anything other than the BORs balance sheets?
  1. "Why is that this policy is inaccessible to the public via the forums?" - Judicial Officer
    - Yes
  2. "How is the public supposed to find these policies?" - Judicial Officer
    - Yes
  3. "The policy says it’s open to the public, yet it is also classified?" - Judicial Officer
    - Yes
  4. "Why does this say Act, which converts the idea that this is an Act of Congress when this is a financial policy?" - Judicial Officer
    - Yes
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9. Did the Judicial Officer approve the warrant after stating the comments you confirmed above?

We will be asking follow-up questions depending on the Witnesses answers.
 
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1. Does the DOJ have any legal requirement to comply with the requests of the FRB?
- We always investigate if we believe something is illegal. I'm not entirely sure if there is a law that specifically requires us to do so however.

2. Did the FRB take any part in executing the search warrant?
- The balance sheet was later provided directly to the FRB instead of me, but they did not take any part in executing the search warrant.

3. In your opinion, was the execution of the warrant in line with standard legal procedures?
- I believe so, yes.

4. Who was responsible for ensuring the warrant request was properly written?
- I was, based on the information provided to the DOJ.

5. What would be the process for officially challenging a warrant?
- I don't think you can actually challenge a warrant. If the judge approves it, it's approved.

6. Did the Bank of Reveille provide the required balance sheets before the warrant was filed?
- I asked for the balance sheet after the warrant was filed, but it was not provided to the FRB before the warrant was filed.

7. Did the DOJ verify the claims made by Reserve Governor Stoppers before filing the warrant?
- The FRB provided screenshots.

8. Did the warrant seek anything other than the BORs balance sheets?
- No.

9. Did the Judicial Officer approve the warrant after stating the comments you confirmed above?
- Yes.
 
My apologies for the wait. The Defendant will only be asking one followup question:

@Freeze_Line
Follow-up for question 8:
Was the Bank of Reveille already legally required to provide the Balance Sheets under the powers granted to the FRB under the Bank Reserve Requirement Act?
 
Angryhamdog said:
Follow-up for question 8:
Was the Bank of Reveille already legally required to provide the Balance Sheets under the powers granted to the FRB under the Bank Reserve Requirement Act?
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Yes.
 
Your Honor, the Defense has no more questions. Thank you.
 
Cross-examination has now ended. The Plaintiff has 72 hours to submit their closing statement. @Nacho
 
Your Honor,

We request a 24-hour extension as I have been working straight 12-13-hour days in retail in the springtime. After getting home, I have been dead for the past couple of days.
 
Nacho said:
Your Honor,

We request a 24-hour extension as I have been working straight 12-13-hour days in retail in the springtime. After getting home, I have been dead for the past couple of days.
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Granted.
 
Your Honor,

We request a 24-hour extension, I have been requested to take up the closing statements at this time, and while I appreciate that the court has provided a 24-hour extension just prior, I would ask for just a smidge more to properly formulate a closing statement as the plaintiff has come unto a busy schedule.

We appreciate the court during this time and thank you for your patience in this matter, we will have a closing statement prepared within this time. Thank you again.
 
asexualdinosaur said:
Your Honor,

We request a 24-hour extension, I have been requested to take up the closing statements at this time, and while I appreciate that the court has provided a 24-hour extension just prior, I would ask for just a smidge more to properly formulate a closing statement as the plaintiff has come unto a busy schedule.

We appreciate the court during this time and thank you for your patience in this matter, we will have a closing statement prepared within this time. Thank you again.
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Granted. This will be your final extension.
 

Closing Statement


IN THE FEDERAL COURT OF THE COMMONWEALTH OF REDMONT
CLOSING STATEMENT

Reserve Ratios

The Federal Reserve Act outlines clearly the responsibilities in Section 3, and allows them some level of policy shaping and execution. The way they are to do so is outlined in Section 5 - Monetary Policy Tools.

'(e) Reserve Requirements
(i) The Reserve Bank sets reserve requirements, which are the minimum amounts of funds that banks must hold in reserve against their deposits. By adjusting these requirements, the central bank affects the amount of money banks can lend and the money multiplier.'

The key point here is that they may set a ratio ‘minimum amounts of funds’ that ‘BANKS MUST HOLD in reserve against their deposits’ -- Their policy executing authority only reaches so far, under this legislation, they MAY NOT dictate that banks hold funds in the Federal Reserve, and enabling them to do so could potentially CAUSE harm by delaying depositor withdraws.

The Bank of Reveille does not contend with the Federal Reserve’s ability to set a reserve ratio as compelled by legitimate policy.

On the Bank Reserve Requirement Act

Most importantly in all of this is that the ‘Bank Reserve Requirement Act’ isn’t public. P-1 clearly shows that this was never put up to motion by the Federal Reserve, and if you look today at the FRB Motions Thread they make use of this thread, but this ‘Act’ and the many others the FRB has ‘passed’ were never made public.

This confusion isn’t unique, as confirmed by the Attorney General the presiding judicial officer was quite confused on how the public would be aware of this act at all, and why it was being presented as a legislative ‘act’, the judicial officer also noting that the document was ‘classified’ -- witness testimony


Cloak and Dagger policy

While the Federal Reserve may enjoy certain independence, they are NOT a shadow legislator.
7 - Financial Independence and Accountability outlines that they are to make regular MONTHLY reports to congress, and that congress may overturn a decision (7.2 & 7.6), and the FRB has historically failed to follow through on these reports. In the PUBLIC #frb-reporting channel in Congress. Notably the ‘Bank Reserve Requirement Act’, was never posted there either.

The Federal Reserve may be able to draft policy, but it is not reasonable for them to execute policy made and kept in secret and labeled as ‘classified’. This is NOT how policy is regularly enacted in Redmont. The DCT has a thread for their policy which the courts have historically relied on as enactable policy. -- DCT Policy Thread

In the case of Intercepticon v. DCT [2021] FCR 10 ‘It is questionable to me that a department feels it is sufficient to operate policies with such a cloak and dagger approach. These policies and regulations affect the public; they should be accessible to the public.’ This feels staggeringly relevant to the facts of the case today, the Bank Reserve Requirement Act was never made public.

In the Verdict they asked the DCT to make their policy public barring reasonable justification.
‘The DCT to make public on the forums all non-sensitive BI protocols as soon as is reasonably practicable, given that such a change may require staff to edit permissions. Reasonable justifications must be given if any protocols are withheld from the public.’

This Verdict was clarified here that policies need to be accessible to the public to be binding on them. It is clear in that case as it is here, that it is unreasonable for a permanent location for a policy, and as such the Bank Reserve Requirement Act is not a binding policy.

This is a clear overreach of power that is NOT outlined to the Federal Reserve, they should be held to the same standards of policy as Departments are. Public and accessible to be binding.


On the expansion and assumption of powers not granted


The Federal Reserve additionally expanded its own responsibilities and assumed those already given to the Department of Commerce outlined in the Commercial Standards Act.

4 - Powers of the Commerce Department -

‘(2) The Department of Commerce is afforded access to financial institution accounts on request for the purposes of monitoring them for compliance.
’(5) The Department of Commerce is charged with investigating commerce-related white-collar crimes.’

Both the access to financial information AND the investigative nature in looking into being ‘non-compliant with the law’ as the Attorney General says here are responsibilities legislated to the Department of Commerce, and by assuming these responsibilities at all, but more importantly with secret policy is an overreach of their powers entirely and NOT something the Federal Reserve Act enables them.

Additionally in the Taxation Act, the role of the Department of Commerce is CLEAR.

8 - Powers of the Department of Commerce --

‘Historical events have proven that strong regulatory powers are necessary for the adequate protection of the depositors of deposit-taking institutions.’
‘These powers are vested in the Department of Commerce to uphold the integrity of financial institution taxation, ensure compliance with regulations, and protect the interests of depositors and the broader financial system.’

It is clear cut, the Department of Commerce is the REGULATORY body of financial institutions, and is given strong regulatory powers specifically for deposit-taking institutions such as BOR. The FRB CANNOT assume authority where it has already been granted explicitly, and should instead work with the DOC to enact on its policy.


On the defences opening statement

‘No “unreasonable search” was undertaken, and no rights were threatened as a result of these actions, because the only information requested was already required by law.’ -- If this is true then the search MUST have been unreasonable and rights threatened, because the information requested could NOT be binding as it was NOT public, and therefore not required by law.

‘It is clear to the defense that this case is an effort to circumvent congressionally-delegated economic regulations through the court system.’
BOR has no issue following legitimate and legal policy enacted according to law. BOR has not had issues with compliance with the DOC unlike some banks recently. This policy was not issued to the public, and is therefore non-binding. Additionally the delegated regulations were provided to the DOC, NOT the FRB, and as such the Federal Reserve has overreached in their powers and authority.

‘as Congress, through the Federal Reserve Act, has given the Federal Reserve the authority to establish regulatory measures relating to money in order to create a stable economy.‘
This is flatly false, the Federal Reserve Act allows them to ‘shape and execute policies related to money’ -- The Act does not enable them regulatory powers, and this is obvious by the clear outline of these powers to the Department of Commerce.


In Summary

It is our position that the Federal Reserve should not be allowed to regulate deposit-taking institutions in such a way as to request financial records directly from them, or to request that the DOJ investigate on their behalf as this was never allotted to them as it was the DOC, and the FRB is NOT a regulatory body.

We ask the court to recognize the importance of policy being public. If we enable the Federal Reserve to act in secret, they can make policy with no public oversight or knowledge, the public is deprived of any potential benefit or harm caused.

We believe it is important that this court clarify where reserve ratios are held and request an interpretation of the law explicitly should a legitimate policy be put into place in the future.

 
The Defence has 72 hours to submit their closing statement.
 
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