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Originally posted by Neo_Serf
I hear Jefferson was just a crazed CTer aswell.
'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. '
[edit on 2-4-2010 by Neo_Serf]
To say that "the most favorable condition for wage-labor is the fastest possible growth of productive capital", is the same as to say: the quicker the working class multiplies and augments the power inimical to it – the wealth of another which lords over that class – the more favorable will be the conditions under which it will be permitted to toil anew at the multiplication of bourgeois wealth, at the enlargement of the power of capital, content thus to forge for itself the golden chains by which the bourgeoisie drags it in its train.
He refused to say which BANKS RECEIVED WHAT SUMS OF MONEY because to tell that would lead to instability in the market and international banking systems. It's the best idea and only idea IMO.
This whole conspiracy that the fed is printing money for itself is kind of stupid.. why would it even need to do that? If it already owns all the money anyways.. why make more?
There are some good questions, like why the fed is propping up certain banks in the first place, and to what extent the fed is doing so -- because it shows favoritism towards some businesses, but not other, which is unfair.
But the idea that the federal reserve is some mega-bank, owned entirely by some mysterious rich guy who collects all the money we've ever printed is sort of stupid.
According to the Fed, there are presently five parts of the Federal Reserve System:
1. The presidentially appointed Board of Governors, a governmental agency in Washington, D.C.
2. The Federal Open Market Committee (FOMC), which oversees Open Market Operations, the principal tool of national monetary policy.
3. Twelve regional privately-owned Federal Reserve Banks located in major cities throughout the nation, which divide the nation into 12 districts, acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors.
4. Numerous other private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks.
5. Various advisory councils.
You do not understand equity markets.
You have made that obvious.
All the money in circulation is NOT owned by banks. I have several dollars sitting in my wallet right now -- as do 300,000,000 other Americans.. So, clearly, they don't own all the money. They don't even come close to owning all the money, frankly. They have "control" a large portion of it, as depository institutions should, but it's not theirs -- they're just borrowing it from their depositors.