The founding fathers of the US, and other great minds, speak on bankers and paper currency

I found a really great compilation of quotes on banks and paper currency from many of the founders of the US (and other great minds):

prof77.wordpress.com...

“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.” . . . “Paper is poverty. It is the ghost of money and not money itself.”

- Thomas Jefferson, 1743-1826

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“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.”

– Napoleon Bonaparte, 1769-1821

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[Speaking about international bankers] “You are a den of vipers! I intend to rout you out, and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.” . . . “If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations.”

- President Andrew Jackson, 1829-1837

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“When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time, a legal system that authorizes it and a moral code that glorifies it.”

– Economic Sophisms, Frederic Bastiat 1801-1850

Classic....

You speak of founding fathers, and what they had to say in regards to bankers and paper currency....

YET SOMEHOW DID NOT CHOOSE TO QUOTE Alexander Hamilton! EPIC!!!!!

A national debt, if it is not excessive, will be to us a national blessing.
~Alexander Hamilton

Oh wow.... your link didn't even mention him... moving on before I die of laughter.

reply to post by nOraKat


Some more good ones:

"I wish it were possible to obtain a single amendment to our Constitution, taking from the federal government the power of borrowing."

~ President Thomas Jefferson, 1798

"Whosoever controls the volume of money in any country is absolute master of all industry and commerce... And when you realise that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate."

~ President James Garfield, 1881

"The government should create, issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers..... The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government's greatest creative opportunity. By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts and exchanges. The financing of all public enterprises, the maintenance of stable government and ordered progress, and the conduct of the Treasury will become matters of practical administration. The people can and will be furnished with a currency as safe as their own government. Money will cease to be the master and become the servant of humanity. Democracy will rise superior to the money power."

~ President Abraham Lincoln, Senate document 23, Page 91. 1865

If the American people ever allow private banks to control the issue of their currency
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When a government is dependent upon bankers for money, they and not the leaders of the government control the situation
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If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations
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Whosoever controls the volume of money in any country is absolute master of all industry and commerce
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The government should create, issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers


Can anyone see the common theme amongst most of these quotes?

THOSE WHO CONTROL THE QUANTITY/ISSUANCE OF MONEY HAVE SUPREME POWER.

Paper/fiat money has nothing to do with it... who controls the amount of paper money has EVERYTHING to do with the problem.

Fiat Money

Originally posted by MESSAGEFROMTHESTARS
Classic....

You speak of founding fathers, and what they had to say in regards to bankers and paper currency....

YET SOMEHOW DID NOT CHOOSE TO QUOTE Alexander Hamilton! EPIC!!!!!

A national debt, if it is not excessive, will be to us a national blessing.
~Alexander Hamilton

Oh wow.... your link didn't even mention him... moving on before I die of laughter.

edit on 26-5-2012 by MESSAGEFROMTHESTARS because: additional comment

Hamilton was one of the Federalists, the bad guys. Only a madman would say a national debt was a blessing, unless he was one of the few who would benefit from it. There is a reason he was killed in a duel. Guess they left that part out at your school, eh?

I see a lot of posts in my occasional browsing that lambasts the Federal Reserve.


Can someone explain to me what the conclusion of the forum has been on a preferred monetary system? How it would permit the level of inflation needed for easy access to loans and similar. Or is it that the whole system must be changed, and loans would no longer be a viable business plan?


I see a lot of complains, but haven't read anyone's solution.

Originally posted by CaptChaos

Originally posted by MESSAGEFROMTHESTARS
Classic....

You speak of founding fathers, and what they had to say in regards to bankers and paper currency....

YET SOMEHOW DID NOT CHOOSE TO QUOTE Alexander Hamilton! EPIC!!!!!

A national debt, if it is not excessive, will be to us a national blessing.
~Alexander Hamilton

Oh wow.... your link didn't even mention him... moving on before I die of laughter.

edit on 26-5-2012 by MESSAGEFROMTHESTARS because: additional comment

Hamilton was one of the Federalists, the bad guys. Only a madman would say a national debt was a blessing, unless he was one of the few who would benefit from it. There is a reason he was killed in a duel. Guess they left that part out at your school, eh?

Epic!

This is an argument that is not even worth the time... I was just simply stating that it is a joke that Hamilton was not quoted. The man was genius, and knew what it took to have a union. He knew what means were necessary to have it established. There's... more than meets the eye if you actually pick up a few books about it lol.

Left that part out of school?

I just got finished reading a book about the man, longer than the bible lol.

www.amazon.com...
For real... it's a goody.

check it out for yourself, then tell me exactly why he was shot and the relationships that he had with the men, and those that opposed him towards the end of his life. Then explain the propaganda, lies, and slander that ran through the streets about him... and being a loyalist. This man was one of the greatest men alive, and is easily the top 3 important men that are to be US's Founding Fathers....

Psst... I wonder what parts they left out of your school. This new school I go to leaves very little out.

reply to post by MESSAGEFROMTHESTARS

I just got finished reading a book about the man, longer than the bible lol.

Well no wonder you freaked out like a mad man when you saw the OP didn't quote the guy. There are many good quotes to choose from, you cannot expect the OP to know everything about everyone. How about instead of acting like a crazy person you share some of his quotes about money and contribute to this thread in a productive way.

1763
Franklin was called before the Parliament in London and asked how he could account for the prosperity in the colonies.


"That is simple. In the colonies, we issue our own paper money. It is called 'Colonial Script'. We issue it in proper proportion to make the goods pass easily from the producers to the consumers. In this manner, creating ourselves our own paper money, we control it's purchasing power and we have no interest to pay to no one." — Benjamin Franklin

1764
England

England passed a law making it illegal for the colonies to issue their own currency. It was called the "Currency Act of 1764". This caused a great depression in America.


"In one year, the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the Colonies were filled with unemployed." — Benjamin Franklin

reply to post by frazzle


Great quotes. Star for you good sir.

reply to post by ChaoticOrder


Thank you. I'm just afraid the solution to our debt crisis is too simple for most people to believe, everyone seems to think a monetary system must be complicated in order to work, even though they can look around and see that complicated isn't working out all that well.

Originally posted by frazzle
reply to post by ChaoticOrder

 

Thank you. I'm just afraid the solution to our debt crisis is too simple for most people to believe, everyone seems to think a monetary system must be complicated in order to work, even though they can look around and see that complicated isn't working out all that well.

Perhaps you can answer my question, I posted it a little earlier in this thread but it seems to have gotten missed in the rush: www.abovetopsecret.com...

Thanks in advance.

I wouldn't be positively quoting Jackson, outside of being a thug who who caused the Trail of Tears, his irrational hatred of banks basically sparked the panic of 1837 which only really hurt the common man as we went from having a somewhat decent central bank to crummy state banks that nobody trusted.

Of course this also forgets that after the Revolutionary War the colonies had to create a central bank institution to help pay for the war debts IIRC.

Originally posted by exponent
I see a lot of posts in my occasional browsing that lambasts the Federal Reserve.


Can someone explain to me what the conclusion of the forum has been on a preferred monetary system? How it would permit the level of inflation needed for easy access to loans and similar. Or is it that the whole system must be changed, and loans would no longer be a viable business plan?


I see a lot of complains, but haven't read anyone's solution.

Seems I got lost for awhile, too. Sorry to take so long to respond to your question. I don't claim to know what a preferred monetary system would be called, but the problem IS inflation and instability in the value of currency, so any system that doesn't involve those two aspects would be preferred. You might do some research on Islamic banking as that's the only banking system I know of that isn't based on debt. They do loan money for business, of course, but its a totally different kind of repayment system and doesn't involve usury.

Originally posted by exponent
I see a lot of posts in my occasional browsing that lambasts the Federal Reserve.


Can someone explain to me what the conclusion of the forum has been on a preferred monetary system? How it would permit the level of inflation needed for easy access to loans and similar. Or is it that the whole system must be changed, and loans would no longer be a viable business plan?


I see a lot of complains, but haven't read anyone's solution.

The problem is not so much the system itself, but more about who is running or managing it.

Currently, it is private, unaccounted, unaudited. There is no transparency.

(c3244172.r72.cf0.rackcdn.com...)

It should be run by a group who's intention is for the benefit of the whole, and not, for a small group of selfish self-serving people. They should be elected, and have government oversight.

The system should be transparent.

This is not to mention - The Big Scam...

And what is The Big Scam?

The Big Scam is being played by all sides - by the Gov't, the defense contractors, and the private Fed.

The Fed is willing to lend, and are lending enormous sums of money to the government for defense spending. These amounts are so huge that it exceeds the entire taxed income, in total, from every person and business in the United States. All of this money is going to private companies (defense contractors) ..private businesses!

At conservative estimates, defense spending equates to over 60% of the entire government revenue (1).

The total Gov't revenue for 2011 is $3.9 Trillion (not including the $1 trillion in social security income) (2). So we are talking about $2.34 Trillion for private defense companies. Total U.S. income from taxes for 2011 was $1.6 Trillion.

Remember, private company = a bunch of guys.

So that is the profit for the defense guys. They make the most.

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Then the bankers...

This money is lent at a regular interest rate of apx. 5%.

Total interest paid to the Fed for 2011 is $454,393,280,417.

Also goes to private companies (i.e. a bunch of guys).


The current national debt is: $15,712,446,368,243
www.treasurydirect.gov...

(1) www.warresisters.org... www.oneminuteforpeace.org...
(2) www.usgovernmentrevenue.com...

Disclaimer: The numbers are likely off and differ depending on the sources.

You get the idea though... imagine if only a portion of the defense budget could be used on more useful things.

Some related articles:

www.infowars.com...

www.warresisters.org...

irancoverage.com...