"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." - Thomas Jefferson
Educate Yourself! http://video.google.com/videoplay?docid=638447372044116845
Comments (2)
1. It wasn't Jefferson who said that.
2. HR 1207 isnt the Federal Reserve Sunshine Act to end the Fed; it's:
http://en.wikipedia.org/wiki/Federal_Reserve_Transparency_Act
In any case: Ending back the Fed is the WRONG WAY to taking back the power to create money:
1. We will overpay for all toxic assets on their balance sheet;
2. They'll undervalue all obligations to other banks (gold leases, currency swaps, etc.)
3. So it will be more looting of the Treasury to enrich the Fed's private shareholders, as guaranteed by the Federal Reserve Act. (The banksters were smart enough to put in a poison pill provision.)
We could do to the Fed what happened to our 1st private central bank: go into competition with it, when State banks were chartered to compete with the Bank of North America. The modern version is the Bank of North Dakota - the DBA name for the State of ND - but the Constitution prohibits it from emitting dollar bills, and coining money, so it is required to get Congress to do so for it via their own banks, one of which has already been chartered in Puerto Rico: The Government Development Bank, so we don't have to wait for them to recharter the Reconstruction Development Bank in DC. Such banks in federal territories are constitutional pursuant to Art.4 Sec.3, and necessary to implement federal monetary policy and for State banks to create greenbacks - neither should be in the hands of a private Fed, who should remain in business, but only to run the system "evolved" by private national banks - otherwise we might as well nationalise Las Vegas.
If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, 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. - Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)
"I believe that banking institutions are more dangerous to our liberties than standing armies." - Thomas Jefferson
... The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating. -Thomas Jefferson