- Nov 26, 2011
- Reaction score
I am going to EDIT this post in about 10 minutes, I am typing up a page from a book to quote.
I am truly torn by the issue of a central bank, 2ndAmendment.
On the one hand I think a central bank controlling the amount of specie in the economy is an absolute necessity in a modern capitalist system.
On the other hand, giving that central bank so much power over the economy seems to inevitably lead to the establishment of a BANSTERS MAFIA of elites who eventually end up owning everything (which is about where we are now).
I am not at all sure how we can create the organization we need to control our currency that is incorruptable.
But certainly it is as obvious to me as it is to you (and it was to Jackson) that the FEDERAL RESERVE we have it constituted today, makes a mockery of authentic capitalism.
Correct. If you read the veto message, he asks wh does Congress surrender its power to a private central bank to create currency, and then "burrow it." Why not (just like Lincoln did with Greenbacks) just have Congress simply mint the coins (gold and silver) themselves at no interest?
There's a passage from this book that I'll type up (the Andrew Jackson and the Bank War book) give me 10 minutes to type this page and some surrounding context.
Funny you mention the Lincoln greenback, a fiat currency. There were people who believed greenbacks were also unconstitutional since it was paper money.
A Resource of War - The Credit of the Government Made Immediately Available ... - Elbridge Gerry Spaulding - Google Books