"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 them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson...
- Thread starter cam_blev
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The people that run the world to be more specific.
He specifically said private banks in the beginning meaning banks owned by people.
Restored to "the people" not some people
do you believe the people or the government control the issuance of currency? That is what this statement is talking about
“The Bank of the United States is one of the most deadly hostilities existing, against the principles and form of our Constitution. An institution like this, penetrating by its branches every part of the Union, acting by command and in phalanx, may, in a critical moment, upset the government. I deem no government safe which is under the vassalage of any self-constituted authorities, or any other authority than that of the nation, or its regular functionaries. What an obstruction could not this bank of the United States, with all its branch banks, be in time of war! It might dictate to us the peace we should accept, or withdraw its aids. Ought we then to give further growth to an institution so powerful, so hostile?” –Thomas Jefferson to Albert Gallatin, 1803. ME 10:437
the people dont run this country the bankers do and you know it. Lobbying, federal funds going to gender studies and colleges having safe spaces. This all started after Occupy Wallstreet when THE PEOPLE were outside chanting at the banker "WE ARE THE 99%" curiously right after that media is focused on dividing the population and talking about racists and bigots and homophobes and Chase and JP Morgan and Lockheed Martin started coloring their logo like a rainbow for a month every year
So we take the money away from these bankers who run the country, and give it to electronic currency ran by people behind computers. Yeah. Nothing can go wrong there.
The problem is our fiscal policies which we use monetary policy to manage. It's a screwed up system where we borrow money we create out of nothing and charge ourselves confiscatory interest because we can't pay back what we're borrowing! So what do we do? Print more money we can borrow that we'll never pay pack!
The classsic definition of insanity:
Insanity: "The definition of insanity is repeating the same mistakes over and over again and expecting different results"
The classsic definition of insanity:
Insanity: "The definition of insanity is repeating the same mistakes over and over again and expecting different results"
THE PEOPLE. ME! YOU! Go buy a computer and plug it up, anyone who wants to can do it!
Do you know how hard it is to start a bank?
Your 100% correct. This is why every fiat system collapses as central banks have to always debase their currency because they are debt based systems. They get into debt as government corruption causes ever expanding bureaucracy and they have to print to pay their debt which leads to inflation.
I respect what you've posted in this thread, and I concur with much of it. However I believe the ultimate solution lies with us. As one other poster mentioned, we are the Government. We allow this corruption by not holding our representatives accountable, or demanding they be responsible to us...the people who fund their profligate spending.
If we would learn to stop looking to Government to solve every problem we refuse to take personal responsibility for on our own, they'd have no way to bribe the votes out of so many of us that they do. If our apathy doesn't kills us, our ignorance will finish the job.
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Here is the first part of a book called "Anatomy of the State" written by Murray Rothbard. This section is called "What the State is Not", its only 3 paragraphs, it might take 2-3 min to read
The whole book is fantastic and I cannot recommend it enough!
The whole book is fantastic and I cannot recommend it enough!
Bill Gates is a powerful person. Elon Musk is a powerful person. They control bankers because they are rich. Neither is rich because of things the government gave them. Both are rich because they provided product and services that alot of people wanted to buy.
Money is power. Banks have money so they have power. The people control all of this and we give all of these people the power. We elect the people who write favorable laws to the wealthy. We re-elect them. We buy their produ to and then buy some more.
Quit acting like rich powerful people got there using voodoo.
Money is power. Banks have money so they have power. The people control all of this and we give all of these people the power. We elect the people who write favorable laws to the wealthy. We re-elect them. We buy their produ to and then buy some more.
Quit acting like rich powerful people got there using voodoo.
Of course that's true, however they do NOT consult with us when deciding what they do with our finances. We have no input into their lending rules, limits, or procedures...and they absolutely do not allow us to examine their balance sheets or restrict them in any way on their investment strategies. I have a brokerage house that operates with a bit more transparency & integrity with the money I have placed under their care than most banks.
They're a necessary evil, but they have waaaay too much leverage over us and we in turn have very little over them IMO. That's just the way it is.
There are some alternatives out there though. Privately funded online lenders and virtual banks are growing in popularity. Credit union memberships are also offering many banking type services more responsive to depositors, and while Bitcoin is still somewhat of a overhyped fad...it does represent a serious challenge to the established monetary system we've allowed the Fed (Central bank) and its member institutions to control for themselves.
I still think we have ultimate control over what happens to our money, but too many people just don't give a damn and/or are too lazy to take a proactive approach to their personal finances. So they let the banks or the Government lead them around keeping them fat, dumb, & happy.
Anything banks do we allow them to do. If a bank hides it's procedures or its books take your money out. No money no bank. We give them all the power they take
No disagreement. My point is they do not handle our money based on what we (depositors) tell them. Yes we can take our money out if they're doing something we don't agree with...but they don't seek nor ask for our permission to do with our money whatever the Hell they want.
Perfect example: remember the "easy money" they offered to unqualified homebuyers that precipitated the '08 housing crash? They took it upon themselves to develop those risky lending practices, the "bundles" they sold knowing those assets were way overvalued, and the lax lending criteria they employed just to make more bad loans.
True enough they were under some threats from Uncle Sam, but nothing required them to take such risks with our money and in the end we taxpayers ended up baling them out for just poor money management.
You said it. Our money. Without our money they don't exist. When we make better decisions with our money and our votes we win.
But acting like somehow "bankers" are the problem with America is just a losers excuse. Just like the idiots who blame evilcorp. There are corrupt banks and corrupt corporations and they exist because they sell people a service that people buy and fund them.
All true. I just can't remember the last time my bank (Truist) called me and asked what I think they should do with my deposits? Hell they (Suntrust) bought out BB&T recently and closed over half the branches I was using banking with them! They never checked in with me, or any of the other depositors banking with BB&T!
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you know where they got their money recently? Not from the people, it came from the federal reserve when they increased them money supply by 30% and gave it to the banks for 0 interest to loan out to us plebs with interest.
The money was stolen from the people through inflation and given back to banks who then loan the money out to hedgefunds and investors who's investments are chosen by their ESG rating.
Banks get their money supply primarily from depositors, investors and profits. They also can borrow from other banks and the fed, but the money borrowed is repaid with interest not given. Your quote, in addition to apparently being at least partially fake, also probably requires a little context. That context being prior to the civil war some largely unregulated private banks were issuing their own currency tied to nothing. Kind of like crypto.
www.monticello.org/site/research-and-collections/private-banks-spurious-quotation
This is exactly what QE (Quantitative Easing), creating more money and pumping it into the system by giving it to banks to loan out. This chart shows the Fed Fund Rate gets kinda weird after the financial crisis huh?
here is more on QE
You didn't provide proof of your claims of the FED giving money to banks interest free.
Ok. That isn't true but you don't understand how it works.
Also. Federal reserve? People.
Head of FR appointed by guy elected by....people.
Banks are owned by people. Banks are not some monster robots. They are groups of people.
I do understand and I'll continue to be proven right time and time again as i have when discussing the economy here
Having magical money on the Internet will not solve any problems. It can be inflated or deflated just as much as our current monetary system. People are also behind that fake money as well. You are butthurt because this has taken a hit recently and probably have lost a lot of value that you once had in it years ago.