Jefferson: banking institutions dangerous to our liberties

[rdean]

Thomas Jefferson said in 1802:
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered..”

Isn't that about where we are today?

 

[rdean]

Right wingers think Jefferson was a conservative.

 

[MajinLink]

I agree with Jefferson. Private companies need to get their roots out of government

 

[Mad Scientist]

Thomas Jefferson said in 1802:
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered..”

Isn't that about where we are today?

Been watching Zeitgeist have ya? Or did you read "It Came From Jekyll Island"?

Either way, this is the first time I actually agree with you. Repped.

 

[Ragnar]

TJ said what? LOL

snopes.com: Thomas Jefferson on Banks

 

[william the wie]

Certainly TJ was right about fractional reserve banks.

 

[rdean]

I agree with Jefferson. Private companies need to get their roots out of government

Darrell Issa, the Chairman of the Oversight Committee, on the very day he was sworn in, sent out emails to 150 companies asking them, "What do you want us to do first?"

Darrell Issa Asks Businesses Which Regulations Should be Killed - Political Hotsheet - CBS News

 

[Revere]

Banks were doing fine until government co-opted them for social engineering, for instance, forcing them to make home loans to borrowers who could not pay them back.

 

[loosecannon]

Certainly TJ was right about fractional reserve banks.

private banks. IMO.

 

[loosecannon]

Banks were doing fine until government co-opted them for social engineering, for instance, forcing them to make home loans to borrowers who could not pay them back.

it's a fine myth. Our banking system relies on ever expanding debt as it's solvency mechanism. You have cart/horse displacement syndrome.

 

[william the wie]

Certainly TJ was right about fractional reserve banks.

private banks. IMO.

State, local or federally owned banks are not a solution.