I decided to watch this today...care to join me?
"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations (banking) have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands, and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war.It denounces, as public enemies, all who question its methods or throw light upon its crimes."
-- U.S. President Abraham Lincoln, Nov. 21, 1864 (letter to Col. William F. Elkins less than five months before he was assassinated.)
"Plutocracy is abhorrent to a republic; it is more despotic than monarchy, more heartless than aristocracy, more selfish than bureaucracy. It preys upon the nation in time of peace and conspires against it in the hour of its calamity. Conscienceless, compassionless and devoid of wisdom, it enervates its votaries while it impoverishes its victims. It is already sapping the strength of the nation, vulgarizing social life and making a mockery of morals. The time is ripe for the overthrow of this giant wrong. In the name of the counting-rooms which it has denied; in the name of business honor which it has polluted; in the name of the home which it has despoiled; in the name of religion which it has disgraced; in the name of the people whom it has oppressed, let us make our appeal to the awakened conscience of the nation."
--William Jennings Bryan speech at Madison Square Garden, New York, 30 August 1906
"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. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
--Possibly from Thomas Jefferson in a Letter to the Secretary of the Treasury Albert Gallatin (1802)
We, as a nation, need to stop worrying about the left and right puppets and worry about the puppet masters. End the FED.
I just read a fantastic article about this subject. It is worth the read for anyone.
The next major move in the stock market will be DOWN
Dan,
ReplyDeleteI don't think you have a clue as to hy the Fed as created or hat purpose it serves.
All three of your quotes are from a time before the FED was even created. Using them to criticise the Fed is absolutely absurd.
The Fed was created to alleviate the problem you are railing about.
You seem to be prone to shouting out ultra conservative rally cries without a clue as to what hey mean.
If not for the Fed you ould end up with a couple banks controlling all the money.
Anti trust las do the same to prevent the richest people from creating monopolies.
Read "the history of the Standard Oil Company" by Ida Tarbell if you want to see what it was like before anti trust laws.
Classic, you're frightened of the banks so you want to get rid of the one thing that keeps the banking system in check ... lol
ReplyDeleteYou both obviously haven't studied enough to make an informed opinion.
ReplyDeleteThe entire reason why we are in the current situation is because of credit fiascoes and printing of money from the FED.
Back in the day every dollar was backed by gold or silver. Yes, it had its problems, but that prevented the government from just printing more rubber money. Now the Fed prints rubber money (elastic money) anytime it wants at its own discretion. It can simply hold the world hostage, like it did in 2008-9, until they got what they wanted. Now trillions are gone and we are still in the same boat.
Plus I bet you have no clue what printing money, not backed by anything, does for the economy...anyone... that's right hyperinflation. Things are about to go through the roof.
You think foreclosures are bad now wait until all those ARMs (Adjustable Rate Mortgages) come to maturity in a couple of years, during the hyperinflation, and no one can refinance because the rates go through the ceiling. Then you will see a such a huge foreclosure rate that it will dwarf what we see today.
Yea keep trusting the FED. A privately held Plutocracy running the/our economy and government. Sure they will do the right thing. We can trust them. Sure keep believing that.
Maybe you both need to study a little about Austrian economics. It would be an eye opener.
Dan:
ReplyDeleteYour actual quotes were about the problems associated with concentrating wealth in the hands of few people. Certainly, soft currency carries its own problems. But, even with hard currency, the money gets backed by less and less silver. The actual issue that your quotes handle is the issue of self-sufficiency. When people become dependent on jobs with companies for basic necessities, they become subject to abuse. When the money is consolidated, there aren't even the jobs available. That's the problem. In the city farming your own land to feed your family is not an option.
I just read a fantastic article about this subject. It is worth the read for anyone.
ReplyDeleteThe next major move in the stock market will be DOWN
Obama is a complete unrealistic clown. More stimulus packages, more jobs, more energy, lower taxes!
ReplyDeleteWhen is he going to get with the frickin' program. I'm getting sick and tired of his dilly dallin'. The only reason his approval ratings are so high is because of his "personality." So personality replaces policy. Barf.