Wisdom From Our Founders

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Thomas Jefferson nailed it.

"I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."

"If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."

This is no argument against banks per se, of course, but only an argument against the banking practices that modern banks are built upon...thanks to the Fed.

Comments

Jeremy said…
thanks for the posts Doug!
October 13, 2008 at 11:01 AM
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